Financial Scams
BB grills BASIC Bank MD
Bangladesh Bank on Monday asked BASIC Bank managing director Kazi Faqurul Islam to give evidence in support of his claim that he is innocent of the financial scams occurred at his bank in the last few years. Earlier on May 12, The BB issued a letter to the MD of the state-owned bank to appear for a hearing before the central bank’s standing committee formed to check corruption in the banking sector.
BB deputy governor Nazneen Sultana is the head of the committee.
A member of the BB standing committee told New Age on Monday that in the hearing BASIC Bank MD had claimed that he was innocent of the financial crimes taken place at his bank as he had done everything in line with the directions of the bank’s board of directors.
The hearing was held at the central bank headquarters in the capital.
Nazneen Sultana, BB executive directors Md Ahsan Ullah and Ahmed Jamal, and general manager Md Nasiruzzaman were present in the hearing.
The standing committee questioned Faqurul who had submitted the loan proposals for getting approval before the BASIC Bank board, the committee member said.
In reply, the BASIC Bank MD said that the management of his bank had submitted the proposals in line with the directions of the board.
Under the circumstance, the BB committee asked the BASIC Bank MD to submit documents in support of his claim in the next hearing meeting.
A BB official said the standing committee would take its next course of actions once the BASIC Bank MD submits the documents.
The central bank has to arrange hearing if it wants to remove any managing director of a bank due to his/her involvement in a graft, the official said.
A BB inspection team earlier had unearthed that huge financial crimes were occurred at BASIC Bank in the last few years and the top management and board members were involved in the corruption.
-With New Age input
