Economic Reporter :
Finance Minister AMA Muhith said the investigation has found that former Chairman of BASIC Bank Sheikh Abdul Hye Bacchu was involved in a loan scam of Tk2,200 crore.
He said the involvement of the ex-chairman was revealed in the finance ministry’s probe report.
Muhith was speaking at the Media Award 2017 ceremony of the Anti-Corruption Commission at Shilpakala Academy in the city on Thursday.
He said the ACC is also now investigating the loan scam.
According to the sources, the ACC will interrogate Sheikh Abdul Hye Bachhu in connection with the incident.
In financial scams that took place between 2011 and 2013, three of the state-run banks – Sonali Bank, Janata Bank and BASIC Bank – had lost Tk12,000 crore.
In September 2015, the ACC filed 54 cases against 56 people, including bank officials.
In its inspection, the BB found irregularities in approving loans of around Tk4,500 crore in the four branches between December 2009 and November 2012.
Majority of the loans were approved by the then chairman Bacchu against forged documents without proper scrutiny and collateral.
Besides, the bank gave loans to several companies and approved loans to clients soon after they had opened accounts. In several inspection reports, the Bangladesh Bank mentioned Bacchu’s involvement in the loan scams.
Finance Minister AMA Muhith said the investigation has found that former Chairman of BASIC Bank Sheikh Abdul Hye Bacchu was involved in a loan scam of Tk2,200 crore.
He said the involvement of the ex-chairman was revealed in the finance ministry’s probe report.
Muhith was speaking at the Media Award 2017 ceremony of the Anti-Corruption Commission at Shilpakala Academy in the city on Thursday.
He said the ACC is also now investigating the loan scam.
According to the sources, the ACC will interrogate Sheikh Abdul Hye Bachhu in connection with the incident.
In financial scams that took place between 2011 and 2013, three of the state-run banks – Sonali Bank, Janata Bank and BASIC Bank – had lost Tk12,000 crore.
In September 2015, the ACC filed 54 cases against 56 people, including bank officials.
In its inspection, the BB found irregularities in approving loans of around Tk4,500 crore in the four branches between December 2009 and November 2012.
Majority of the loans were approved by the then chairman Bacchu against forged documents without proper scrutiny and collateral.
Besides, the bank gave loans to several companies and approved loans to clients soon after they had opened accounts. In several inspection reports, the Bangladesh Bank mentioned Bacchu’s involvement in the loan scams.
