BSEC will conduct special audit of Uttara Finance

The Bangladesh Securities and Exchange Commission (BSEC) has decided to appoint a special auditor to audit the financial accounts of the capital market-listed company Uttara Finance and Investment. The commission recently issued an appointment letter to an institution. This information has been known from the relevant sources.

A recent special inspection of Bangladesh Bank has revealed information about a major financial scandal in the company. Bangladesh Bank says its directors have taken out hundreds of crores of rupees in loans without the approval of the central bank. The managing director (MD) has also taken a loan without permission to buy a car or a house.

Sunbd/NJ