MIND BOGGLING figures. The share market scam, 20,000 crore taka. Destiny’s rip-off, 33,000 crore taka. The Hallmark Group-Sonali Bank’s embezzlement, about 3,600 crore taka. But these are only particular instances of fraud and embezzlement, ones that have featured prominently in public outpourings of anger. Financial corruption is far deeper, more extensive. Continue reading “CONCLUDING PART: SHARE MARKET, DESTINY, HALLMARK…”
By David Bergman The New Age
Thursday, 2 February, 2012
Five non-governmental organisations have admitted to the World Bank that they made corrupt payments to Bangladesh government officials to receive contracts under a bank-funded project.
The admissions are contained in a report of an investigation which the World Bank?s Integrity Vice President conducted into the disbursement to hundreds of NGOs of part of a $53.3 million loan that the bank had given the Bangladesh government to further post-literacy continuing education.
Four of the five NGOs told World Bank investigators that to get a contract under the project, which lasted between 2001 and 2007, they each had to pay at least Tk 100,000 in bribes to government officials, money that was channelled to the officials through intermediaries.
Some NGOs had to pay as much as Tk 600,000 in bribes to obtain a contract, the investigators were told. Continue reading “WB finds graft rampant in govt, NGOs”