Sonali board members blame management

Hallmark Scam
Sonali board members blame management
Four members of the board of directors of Sonali Bank on Wednesday alleged the bank management was involved in the Hallmark money swindling, claiming their non-involvement in the loan scam.
Members of the board of directors Suvas Chandra Singho Roy, Jannat Ara Henry, KM Zaman Romel and Sattayendra Chandra Bhakta made the allegation after being interrogated by

Read more

ACC starts Sonali scam probe

Tk 500cr embezzlement
ACC starts Sonali scam probe
The Anti-Corruption Commission has started inquiry into an allegation of embezzlement of around Tk 500 crore from three more branches of Sonali Bank. The three branches are the Sonali Bank’s local office, Gulshan branch and Agargon branch, an ACC official told New Age.
The ACC on Monday formed a four-member inquiry team led by its deputy director

Read more

Swindle unearthed at another branch

Sonali Bank Scam
Swindle unearthed at another branch
Tk 159cr loan given illegally
Like its scam-hit Ruposhi Bangla Hotel branch, Sonali Bank’s Gulshan branch has helped a number of companies to swindle Tk 159 crore out of it.
The branch approved and disbursed the money in loans and advances in the last two and a half years through underhand ways, according to an

Read more

Two Sonali Bank DMDs made OSD

Two GMs also removed
The government on Tuesday made Sonali Bank Limited deputy managing directors Atiqur Rahman and Mainul Haq officer-on-special duty following the bank’s financial scandal in siphoning out around Tk 3,600 crore by the Hallmark Group.
The ministry of finance in an order on the day made the officials of the state-owned bank

Read more

The enemy within

Inside the bank, it was in the air that something grossly wrong was going on at three Sonali Bank branches — Ruposhi Bangla, Gulshan and Motijheel local office — regarding loans to a powerful company named Hall-Mark. It was also in the air that some influential political figures were involved in the still unknown scams there. Yet the management showed no interest to

Read more

Muhith at odds with central bank

Sonali Board Recast
Muhith at odds with central bank
Bangladesh Bank’s request to the finance ministry to recast the board of state-owned Sonali Bank following the Tk 3,832-crore loan scam has sparked off a debate.
“This is not Bangladesh Bank’s duty,” said Finance Minister AMA Muhith when asked by reporters on the central bank’s recommendation for restructuring of the

Read more

BB for reconstituting Sonali Bank board

Failure To Stop Loan Scam
BB for reconstituting Sonali Bank board
The central bank yesterday requested the finance ministry to reconstitute the board of directors of Sonali Bank Ltd for its failure to stop Tk 3,832-crore loan scam.
In a letter to the finance minister, Bangladesh Bank Governor Atiur Rahman said the nature of the irregularities at the state-run commercial bank was very

Read more

Bangladesh Fund floated

The much-talked-about ‘Bangladesh Fund’ entered the stockmarket formally on Thursday by purchasing shares of the state-run Titas Gas.
The Securities and Exchange Commission (SEC), a day ago, approved the registration of Tk 5,000 crore fund

Read more

Sonali Bank inks pact with CityCell for broadband services

State-owned Sonali Bank, the country’s largest commercial bank, yesterday signed an agreement with mobile broadband service provider CityCell to avail the latter’s high-speed broadband services, to speed up remittances. Golam Anjumanarul Islam, head of business, CityCell and Sahid Hossain, deputy general manager (IT Division), Sonali Bank, signed the agreement at

Read more