DHAKA, April 26, 2025 (BSS)-The Bangladesh Cricket Board (BCB) issued a
clarification on its financial transactions today, stating that these
transactions were done to strengthen the safety of board's funds to safeguard
the organization from vested quarters.

"The BCB has noted with concern certain reports in sections of the national
media concerning the Board's financial transactions. The BCB is of the view
that these reports are misinformed, inaccurate, and appear to be
intentionally constructed to tarnish the image of the Board and its
President, Mr Faruque Ahmed," The BCB said in a press release.

"Upon assuming the role of BCB President in August 2024, Mr Faruque Ahmed
identified the safeguarding of the Board's financial interests as a top
priority, especially in the context of allegations of financial
irregularities in previous years and the difficult economic period the
country was experiencing in the months following the mass uprising of July-
August 2024," the release added.

The BCB also attached the statement of the FDR in the press release.

As part of this initiative, the BCB undertook a reassessment of its banking
relationships and made a strategic decision to engage only with financial
institutions categorised by Bangladesh Bank under the Green and Yellow Zones.

"Considering the paramount importance attached to ensuring security, the BCB
withdrew BDT 250 crore from banks considered risky and reinvested BDT 238
crore of it in Green and Yellow Zone banks. The remaining BDT 12 crore was
transferred to a designated account to facilitate BCB's operational
expenses," the release said.

It should be noted that the BCB President does not take unilateral decisions
without the knowledge of the BCB Board in regards to changing Banking
partners or financial transactions with Banks, the BCB stated.

"The Board has two signatories authorising banking transactions - BCB Finance
Committee Chairman Mr Fahim Sinha and BCB Tender & Purchase Committee
Chairman Mr Mahbubul Anam. The Board President is not a signatory on these
matters."

The BCB is also aware that disruptive elements and a vested quarter, both
outside and within the cricket administration, remain active with the sole
intention of maligning the Board and undermining its efforts, the release
added.

"This was another pertinent reason to strengthen the security and safety of
BCB's funds and operations."

"Since September 2024, the BCB has entrusted 13 such banks with the
responsibility of holding its funds and fixed deposits. This move not only
ensured the security of the Board's finances but also allowed the BCB to
leverage partnerships that offered the most competitive interest rates."

As a result of this strategy, the BCB has realised an increase of 2-5 percent
in interest earnings from its fixed deposits compared to previous periods,
the release said.

"Furthermore, in the past six months alone, the BCB has received
approximately BDT 12 crore in sponsorship support from three of its current
banking partners. In addition, around BDT 20 crore of sponsor investment by
BCB's partner banks has been pledged for infrastructure development, further
underlining the strength and depth of these financial relationships."

"The BCB remains dedicated to upholding the highest standards of financial
governance and welcomes scrutiny from legitimate and factual sources."

"The Board also requests media outlets to refrain from publishing
unsubstantiated reports that may undermine the integrity of Bangladesh
cricket and the individuals who serve it," the release concluded.