Finance Minister AMA Muhith has held flaws in bank's management system responsible for the Hall-Mark scam.
"Hall-Mark loan scam was caused due to the loopholes in the bank's management system.
"But, it is not unnatural that political influence was also there," he said while inaugurating the 57th branch of Basic Bank Ltd at Sylhet's Sonarpara yesterday.
"Fraudulent incidents are taking place in banks and other financial institutions all over the world," he said adding that many banks in the US were shut down due to crooked financial practices.
Only 40 percent of our population are now getting banking service while the rest of the people are out of the purview of banking coverage, he told his audience.
There were 48 commercial banks operating all over the country, he said adding that more banks were being established to improve banking services.
The minister observed that online banking facilities should be reached to every people at the grassroots level as soon as possible.
Basic Bank Chairman Sheikh Abdul Hai Bachchu, Sylhet city Mayor Badar Uddin Ahmed Kamran, lawmaker Shofiqur Rahman Chowdhury, among others, addressed the function.