Earlier, on 17 February, Bangladesh Bank authorities formed an inquiry committee headed by deputy governor AKM Sajedur Rahman following observations of the High Court. Members of the committee include former judges and bureaucrats.

The committee is likely to submit its final report to the governor of the central bank next month.

The Bangladesh Bank constituted the committee mainly to investigate financial irregularities at Bangladesh Industrial Finance Company Limited (BIFC) and to ascertain the concerned officials' involvement in this connection.

The committee has been investigating incidents of financial irregularities in other financial institutions as well as the role of concerned officials. The committee members have been talking to officials of the central bank and directors and officials of other banks and financial institutions to this end.

On 17 December last year, the High Court bench of justice Khurshid Alam Sarker issued an order in a petition filed seeking removal of the BIFC board of directors.

The court observed that everyone in charge of overseeing the activities of financial institutions since 2002 should be made accountable.

Read more from Crime and Law