Bangladesh has incurred losses more then 500 crore taka due to an unprecedented financial scam at the Bangladesh Petroleum Corporation (BPC).
Senior officials are allegedly involved in embezzlement linked to fixed deposit receipts (FDRs) placed at unusually low profit rates compared to prevailing bank rates.
An investigation by DBC News, based on reviews of three years of audit reports, found evidence of large-scale misuse of public funds.
According to analyses of BPC and its subsidiary companies, funds held by the three state-owned fuel marketing companies — Padma, Meghna, and Jamuna — were deposited in banks at standard market profit rates up to the 2021–22 fiscal year.
However, during the 2022–23, 2023–24, and 2024–25 fiscal years, the profit rates on these FDRs dropped abnormally.