Wednesday, March 16, 2016

#Bangladesh central bank governor resigns after $101m cyber-theft

Bangladesh Bank (BB) Governor Atiur Rahman resigned on Tuesday.He resigned from his post because the country's account at the US Federal Reserve had been hacked and some $101 million was stolen.The heist came to light in Bangladesh only a couple of days ago following a media report in the Philippines though it occurred early last month.

Rahman has been criticized by keeping the Bangladeshi government in the dark for more than a month about the stealing that made headlines in the country and beyond.Some $101 million worth of foreign reserves of the Bangladesh Bank, deposited with the US central bank, was on February 5 stolen by hackers and transferred to Sri Lanka and the Philippines.

Former finance secretary of Bangladesh Fazle Kabir has been appointed as the new Governor.