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Awami League tenure: ACC probing 15yrs of financial irregularities
The Anti-Corruption Commission (ACC) has launched an investigation into alleged corruption by individuals, financial institutions, industrial groups, and loan defaulters during the Awami League’s 15-year tenure, which it claims led to the destruction of the country’s financial system.
Awami League tenure: ACC probing 15yrs of financial irregularities
The Anti-Corruption Commission (ACC) has launched an investigation into alleged corruption by individuals, financial institutions, industrial groups, and loan defaulters during the Awami League's 15-year tenure, which it claims led to the destruction of the country's financial system.
As part of this move, the commission is examining the role of former top officials of Bangladesh Bank, including three former governors and four former deputy governors, in major irregularities in the financial sector.
In a recent letter signed by ACC Deputy Director Mominul Islam, the commission sought information on various allegations of irregularities in the banking sector over the last 15 years.
"Several teams are working on financial irregularities. Once the investigation is complete, the assigned committee will submit its report. The findings will be disclosed in due time," ACC Director General (Prevention) and spokesperson Md Akhter Hossain told The Daily Star.
According to ACC sources, information has been sought regarding former BB governors Atiur Rahman, Fazle Kabir, and Abdur Rouf Talukder; former deputy governors SK Sur Chowdhury, SM Moniruzzaman, Abu Hena Mohammad Razee Hassan, and Abu Farah Mohammad Nasser; and former heads of the Bangladesh Financial Intelligence Unit Masud Biswas and Kazi Saidur Rahman.
These nine individuals held responsibilities at the central bank at different times during the past 15 years.
The ACC has also requested documents related to the approval of new banks during their tenure, all loan policies issued during that period, information on loan disbursements, money laundering, notices regarding US dollar disbursement from reserves to businesses, and copies of any internal investigation reports by BB concerning these matters.
Additionally, the ACC asked for policies issued since 2009 regarding the regularisation of default loans, and details of companies that benefited from these policies, including: Beximco Group, MR Group, Ratanpur Group, Keya Group, Jamuna Group, Thermax Group, Sikder Group, BBS Group, Abdul Monem Ltd, AnonTex Group, and others.
The commission has sought names of these companies and their owners, permanent and current addresses, loan amounts, and current loan statuses.
The ACC also demanded approval-related notices, documents, and circulars for nine banks approved after the AL came to power in 2009, namely: Meghna Bank, Midland Bank, Madhumati Bank, NRB Bank, NRB Commercial Bank, NRB Global Bank, South Bangla Agriculture and Commerce Bank, Union Bank, and The Farmers Bank, currently named Padma Bank.
In response to a letter from Salman F Rahman, the commission has also asked for the notice and documents related to the 2015 policy on loan restructuring; attested copies of policies issued after 2009 regarding bank inspections; and documents related to the formulation and issuance of those policies.
Furthermore, the ACC has sought attested copies of notices and circulars regarding the acquisition and ownership control of Islami Bank and Social Islami Bank.
If the central bank has conducted any internal investigations on these matters, the commission wants those reports as well.
Contacted, BB spokesperson Arif Hossain Khan said, "Recently, the ACC has issued several letters requesting various information. We are trying to provide all the required data to the best of our ability."
The Anti-Corruption Commission (ACC) has launched an investigation into alleged corruption by individuals, financial institutions, industrial groups, and loan defaulters during the Awami League's 15-year tenure, which it claims led to the destruction of the country's financial system.
As part of this move, the commission is examining the role of former top officials of Bangladesh Bank, including three former governors and four former deputy governors, in major irregularities in the financial sector.
In a recent letter signed by ACC Deputy Director Mominul Islam, the commission sought information on various allegations of irregularities in the banking sector over the last 15 years.
"Several teams are working on financial irregularities. Once the investigation is complete, the assigned committee will submit its report. The findings will be disclosed in due time," ACC Director General (Prevention) and spokesperson Md Akhter Hossain told The Daily Star.
According to ACC sources, information has been sought regarding former BB governors Atiur Rahman, Fazle Kabir, and Abdur Rouf Talukder; former deputy governors SK Sur Chowdhury, SM Moniruzzaman, Abu Hena Mohammad Razee Hassan, and Abu Farah Mohammad Nasser; and former heads of the Bangladesh Financial Intelligence Unit Masud Biswas and Kazi Saidur Rahman.
These nine individuals held responsibilities at the central bank at different times during the past 15 years.
The ACC has also requested documents related to the approval of new banks during their tenure, all loan policies issued during that period, information on loan disbursements, money laundering, notices regarding US dollar disbursement from reserves to businesses, and copies of any internal investigation reports by BB concerning these matters.
Additionally, the ACC asked for policies issued since 2009 regarding the regularisation of default loans, and details of companies that benefited from these policies, including: Beximco Group, MR Group, Ratanpur Group, Keya Group, Jamuna Group, Thermax Group, Sikder Group, BBS Group, Abdul Monem Ltd, AnonTex Group, and others.
The commission has sought names of these companies and their owners, permanent and current addresses, loan amounts, and current loan statuses.
The ACC also demanded approval-related notices, documents, and circulars for nine banks approved after the AL came to power in 2009, namely: Meghna Bank, Midland Bank, Madhumati Bank, NRB Bank, NRB Commercial Bank, NRB Global Bank, South Bangla Agriculture and Commerce Bank, Union Bank, and The Farmers Bank, currently named Padma Bank.
In response to a letter from Salman F Rahman, the commission has also asked for the notice and documents related to the 2015 policy on loan restructuring; attested copies of policies issued after 2009 regarding bank inspections; and documents related to the formulation and issuance of those policies.
Furthermore, the ACC has sought attested copies of notices and circulars regarding the acquisition and ownership control of Islami Bank and Social Islami Bank.
If the central bank has conducted any internal investigations on these matters, the commission wants those reports as well.
Contacted, BB spokesperson Arif Hossain Khan said, "Recently, the ACC has issued several letters requesting various information. We are trying to provide all the required data to the best of our ability."
