Although the commercial banks run their business based on money deposited by the ordinary people, directly or indirectly, the depositors do not have any control over them. On behalf of the depositors, it is the responsibility of the banking sector supervising institutions to ensure the interest of the depositors. The Bangladesh Bank, established under the 1972 Presidential Order number 127 and run according to the Bank Company Act, 1991 is supposed to supervise and control the banking sector of Bangladesh as central policymaking and controlling authority.
However, particularly during the last one decade, according to various research and media reports, the banking sector of Bangladesh is highly prone to corruption, irregularities, scam, fraud, capital shortfall, high-interest rate, liquidity crisis and high rates of default loan. Over the years, the money deposited by ordinary people has been misappropriated and plundered through willful default loans.
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