Enhance bank vault security to prevent gold heists

Taking a loan by depositing gold in the bank is the easiest way. Those who take loans by depositing gold are not all affluent; most of them are middle-class or low-income individuals. They may deposit gold to quickly obtain a loan for business needs, travel abroad, or for medical purposes. Most of this gold consists of jewelry belonging to mothers, wives, or sisters. These items hold not only financial value but also many memories and emotional connections. Everyone hopes to repay the loan one day and retrieve the jewelry to return it to their loved ones. However, if the bank's chairman sells this gold, it is not just theft; it is a serious crime. This cannot be judged solely on its monetary value; the punishment must be determined as the most severe for breach of trust regarding deposits.

A news report published on Wednesday (October 2) reveals that general customers had taken loans by depositing or pledging gold at Bangladesh samabaya bank ltd. The former chairman of the bank sold those assets by faking owners. His name is Mohiuddin Ahmed, who was a joint general secretary of the Jubo League and is now the joint general secretary of the Dhaka Metropolitan Awami League (South). Documentation indicates that during his tenure as chairman of the Bangladesh samabaya bank ltd in 2020, Mohiuddin Ahmed sold a total of 7,398 bhori of gold, which currently has a market value of around 100 crore taka. Affected by this, 2,316 customers of the bank have suffered losses.

Information indicates that the Rural Development and Cooperative Department, which oversees the cooperative bank, had initiated an investigation into the gold selling incident. Bank officials claim that Mohiuddin Ahmed exerted influence to halt that investigation. In 2021, the Anti-Corruption Commission (ACC) filed a case regarding the sale of gold. Mohiuddin's name was listed first among the nine accused in the case's charge sheet. However, he managed to have his name removed from the charge sheet by using political influence. Following the fall of the Awami League government on August 5 due to a student-led uprising, Mohiuddin Ahmed has gone into hiding.

The question arises: how could such a massive embezzlement occur without any action from the former Awami League government? Mohiuddin was able to use political influence to have his name removed from the charge sheet! What kind of power allows an individual to exert such influence? If a bank chairman can wield such power, how many others like him have committed similar crimes? This indicates that vast sums of money have been embezzled and corruption has flourished during the tenure of the previous government.

The previous government has been ousted, and the current government has taken a strong stance against such corruption, which has pleased the public. However, there is still fear among the people. If this situation continues, trust in banks will diminish. Many banks are beginning to feel the impact on their banking experience. People want to see their deposited gold and are withdrawing it when possible. Some are even taking out cash from various banks. All of this could have a negative impact on the overall economy and public safety.

We urge for stronger security measures in banks. No bank should suffer due to the influence of any individual. Furthermore, no one should become embroiled in corruption under political shelter. The current interim government must take steps to eradicate this political corruption. We need to establish a state where no individual can exert such political influence to become a predator within any institution.