Bangladesh’s banking sector reform task force has decided to initiate asset quality reviews (AQR) of 11 additional banks, most of which were embroiled in irregularities and scams during the 15-year tenure of the Awami League-led government.

Central bank officials, speaking on condition of anonymity, confirmed the list includes Islami Bank Bangladesh, Al-Arafah Islami Bank, National Bank, Bangladesh Commerce Bank, United Commercial Bank, IFIC Bank, AB Bank, Premier Bank, NRB Commercial Bank, NRB Bank, and Meghna Bank.

The World Bank will support the process, with global audit firms assigned to conduct the reviews. The decision was made at a recent meeting of the banking reform task force held at the Bangladesh Bank headquarters in Dhaka.

Bangladesh Bank Executive Director and Spokesperson Arief Hussain Khan confirmed to The Daily Star that AQRs are scheduled for 11 banks, though he did not name them.

The task force was formed following the political transition to an interim government and is part of a broader initiative to restore discipline in the banking system. A newly established Bank Restructuring & Resolution Unit is overseeing implementation.

Previously, six banks—EXIM Bank, Social Islami Bank, ICB Islamic Bank, First Security Islami Bank, Global Islami Bank, and Union Bank—underwent similar reviews, conducted by Ernst & Young and KPMG.

The AQRs will assess a range of factors, including asset risk and valuation, internal control frameworks, loan classification and rescheduling, compliance with single borrower and large loan exposure limits, and accounting policies.

Dedicated officials from both the central bank and the audit firms will be assigned to each institution to ensure a comprehensive and accountable audit process, according to officials familiar with the matter.