Manager, where is my money?

I am beginning to worry about the few thousands I have in our banks here. Are they safe?

The BNB scandal involving millions took place over several years under the watchful eyes of the management. The BoB incident of an employee using their client’s money sounds like it isn’t unusual practice. These show that there are no proper (not even basic) risk management systems in place in our banks.

I am very unsettled by the fact that the general manager, Tharpo Drukpa, casually dismisses the BoB incident as a general practice and ‘is common in most banks’ (does he mean BNB????).

The individuals responsible for the BNB embezzlement and the BoB have been punished, so with these, have the organisations banished the flaws and weaknesses in the banks. I am not very confident about it. Have the banks learnt any lessons from the past? No executives got fired or resigned in the BNB scandal. It is unlikely in this case too. I even can't remember a proper communication to the stakeholders. These things don't make me comfortable.

So up-to what extent does the leaders take ownership of the activities their organisations indulge in? When an organisation fails or they do not deliver, it is ultimately the leaders who should take responsibility and be answerable.

The irresponsibility and the inadequate leadership displayed by the executives in our banks have been largely accepted or ignored by the customers, shareholders and the regulators. This is not a good trend and it is too costly. We must ask questions and demand that our savings/investments are protected.