The Bangladesh Bank has issued show-cause notices to at least 10 of its officials, ranging from joint directors to executive directors, alleging that they shared information with journalists.

Such type of action against the central bank officials had not been taken under any tenure of the previous governors, said BB officials who are panicked due to the unprecedented measure.

The BB officials said that at least 10 officials from the banking inspection department, off-site supervision department, forex reserve and treasury management department, and banking regulation and policy department have been asked to explain why they had shared information with journalists.

However, it was not proved that they had shared information with the journalists, claimed the central bank officials.

A deputy governor of the Bangladesh Bank issued the show-cause notices when the country’s media outlets are publishing reports about forex reserves, volatility in the foreign exchange market and other banking issues in recent times, as per industry insiders.

Contacted, Bangladesh Bank Executive Director and spokesperson Md Serajul Islam told The Business Post, “Journalists are collecting information from both central bank and other banks but I do not know why the such show-cause notice was issued by the BB high-ups.”

The Business Post correspondent contacted three high officials of the central bank and two chief executives of private commercial banks. They said that the practice is not a very good sign for the country and its economy.

Preferring not to be named, they said that such type of measure against the BB officials had not been taken before. This action might be taken by the BB high-up being influenced by some influential groups, they said.