Part of that sum includes the ￡1.15 million the BBC profited by selling the interview's global rights. The explosive 1995 BBC and Panorama interview with the Princess of Wales was revealed to have been organised under false pretences.

       An internal BBC inquiry found that Mr Bashir breached BBC rules by creating false bank statements and false documents to gain the Princess' trust.

       By gaining access to Diana through Earl Spencer, Mr Bashir persuaded the Royal to give the interview.

       In the interview, Princess Diana famously said: "There were three of us in this marriage."

       Lord Dyson, the judge who led the inquiry, said the BBC "fell short of the high standards of integrity and transparency which are its hallmark".

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       The Mail on Sunday understands that the reparation money will come from BBC Studios, the commercial operation which is not funded by the licence fee.

       However, the terms of the agreement have yet to be specified and there is no date set for when the money will be donated.

       Diana's close friend, Rosa Monckton, told the Mail on Sunday: "This is an admirable decision, though obviously it cannot undo the damage that has been done or erase the BBC’s guilt."

       Mr Bashir broke his silence on the scandal in May, telling the Sunday Times that he doesn't believe he harmed Diana “in any way”.

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       "Everything we did in terms of the interview was as she wanted, from when she wanted to alert the Palace, to when it was broadcast, to its contents... My family and I loved her,” he told the paper.

       "I don't feel I can be held responsible for many of the other things that were going on in her life, and the complex issues surrounding those decisions.

       "I can understand the motivation [of Earl Spencer, Diana's brother] but to channel the tragedy, the difficult relationship between the royal family and the media purely on to my shoulders feels a little unreasonable... the suggestion I am singularly responsible I think is unreasonable and unfair."

       Reportedly, donating the money was suggested by Earl Spencer, Princess Diana's brother.

       Mr Bashir apologised for falsifying the documents, however, he stopped short of admitting he conned the Princess into giving the interview.

       "The bank statements had no bearing whatsoever on the personal choice by Princess Diana to take part in the interview,” he said in a statement.

       "Evidence handed to the inquiry in her own handwriting unequivocally confirms this, and other compelling evidence presented to Lord Dyson reinforces it."

       The BBC and Kensington Palace have declined to comment to the Mail on Sunday's request.