The politically appointed bosses of the country’s Nationalised Commercial Banks (NCB) are allegedly involved in plundering their respective banks enjoying immunity.
They are getting “safe exit” from the government having looted the depositors money, some bankers alleged on Sunday.
Talking to The New Nation separately, they referred to ‘safe and honourable exit’ of Basic Bank Chairman Sheikh Abdul Hye Bacchu, who is involved in swindling Taka 45 billion depositors’ as an example.
An amount of about Taka 43 billion depositors’ money was plundered from the country’s biggest bank-Sonali Bank earlier in 2012 but none of board of directors of the bank was taken to task for the scandal, said some bankers requesting not to be named.
As some ministers were involved with the much-talked about ‘Hallmark scam, so none of the board of directors of the bank was even touched in such a big scandal, it is alleged.
Stressing the need for dissolution of all politically appointed board of directors, including chairmen, the bankers said sounding a note of caution that the entire banking system of the country might collapse and no foreign country will accept Letter of Credit (L/C) of Bangladeshi banks in near future if those behind plunder of banks continue to enjoy immunity. Meanwhile, the government has made chairman of the Board of Directors of Bangladesh Krishi Bank Alauddin A Majid Chairman of BASIC Bank to salvage it from the crisis.
The Bank and Financial Institutions Division of Finance Ministry said the government accepted the resignation letter of immediate past BASIC Bank chairman Sheikh Abdul Hye Bachchu. Besides, the Board of Directors of the BASIC Bank has been dissolved. “This is for the first time the government dissolves a board of directors of a bank following the allegation of swindling of depositors money,” another banker said adding that the dissolution took place two days after the Basic Bank’s Chairman, reportedly the kingpin of the plunderers tendered his resignation. “Finance Minister AMA Muhith received Bacchu at his official residence on Friday, when the latter wanted to hand over his letter of resignation to the Minister in person.” another banker said while criticizing the minister’s comment that Abdul Hye Bacchu resigned honourably.
“How, a swindler of depositors’ money could get such treatment by none other than the Finance Minister himself at his residence,” he said posing a question. The plunder of Taka 620 million by chairman of Premier Bank BH Harun was cited as another example of looting of the country’s banks one after another by those enjoying political blessings.
“The plunder of Basic Bank and Premier Bank could not have taken place had the Chairman, members of Board of Directors and Managing Director of Sonali Bank were taken to task ,” a top official of the Bangladesh Bank said.
Bangladesh Bank has removed BASIC Bank Managing Director (MD) Kazi Faqurul Islam on charge of irregularities on May 25. Bangladesh Bank investigations found massive financial irregularities involving around Taka 45 billion in three branches of the BASIC Bank during 2009-2013.
A high official of the Finance Ministry said the government could not remove the Chairman and dissolve the board of director of the BASIC Bank as per the recommendation of the Bangladesh Bank as the Finance Minister wanted that they resign without facing any disciplinary action.
Finance Minister AMA Muhith was censured in the Parliament by senior members of the treasury bench that the money (nearly Taka 40 billion) involved in Hallmark-Bismillah gtoups’ scam of Sonali Bank was not a ‘big amount’ and that the Hallmark should be given a new cash loan to the tune of Taka 2.5 billion so that it could earn money to repay the previous loan.
Finance Minister Muhith did not want trial of those who plundered about Taka 250 billion from Share Market in 2009-2010 financial year. He termed share market as ‘naughty’.
However, the Finance Minister on Saturday said that the government would conduct an enquiry into the Basic Bank-scam and those found involved in the scam, would be brought to book. Bangladesh Bank Executive Director Mustafizur Rahman Khan told this Correspondent on Sunday that the realization of plundered money was the responsibility of the law enforcement agency . Anti-corruption watch dog Anti-Corruption Commission (ACC), he said could play its role in this regard.
“Bangladesh Bank has nothing to do in realizing money,” he said adding that the bank-scams did not erode depositors confidence in banking system or NCBs. “So far there is no complain that any depositor loss his/ her money due to these corruption,” he said, adding “You media people you have lost confidence in banking.”
“There is no reason for depositors worry after these scandal since the government, which own the Bank, will refinance,” he said.When asked whether it was correct to refinance bank, which fall on its own corruption trap, from the tax payers money, he said, “We can not comment on this. Owners usually refinance.”
