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He said: “We have received the letter of complaint from former Interior Minister Mohiuddin Khan Alamgir about Padma Bank. We are working on that. We would like to hear your statement from Padma Bank. ”
The BSEC president made the remarks at a debate organized by the Economic Reporters Forum (ERF) in Dhaka on Saturday.
Mohiuddin Khan Alamgir alleged that Chowdhury Nafiz Sarafat had “broken the rules” and invested Tk 100 crore in a bank fund.
Shibli Rubaiyat-ul-Islam said: “We will also address the matter with the Asset Management Company. After checking everything, we will see what information is correct. Whatever happens according to the law of the land, there is no reason for us to deviate here. “
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The ownership and management of Farmers Bank, which was embroiled in irregularities and loan scandals, changed in 2016. Mohiuddin Khan Alamgir, a former member of the Awami League presidium, resigned as president at the time under pressure.
The following year, Chowdhury Nafiz Sarafat became the chairman of Farmers Bank, who is also the chairman of Race Asset Management plc and the board of directors of the Canadian University of Bangladesh.
Former Padma Bank Chairman Mohiuddin Khan Alamgir and current Chairman Chowdhury Nafiz Sarafat
Mohiuddin Khan Alamgir wrote a letter to the Governor of the Bank of Bangladesh on March 8, asking him to investigate and take action against Chowdhury Nafiz Sarafat.
Copies of the letter were also sent to the Minister of Finance, the Senior Secretary, the Department of Financial Institutions, the Ministry of Finance and the Bangladesh Securities and Exchange Commission.
It is said that on November 1, 2015, when he was the bank’s chairman, in his “absence”, a Farmers Bank Board meeting approved an investment of Rs 100 million in an alternative investment fund.
Mohiuddin Khan Alamgir, the bank’s sponsoring shareholder, said the board learned of the investment after receiving a photocopy from Momo recently.
His letter read: “I learned that Chowdhury Nafiz Sarafat took that investment money as chairman / CEO of Bangladesh Alternative Investments at the time. It violates the law because he was a director of the bank at the time and according to the law , he cannot get funds from Farmers Bank while he is a director.
Article 27 (2) of the Banking Companies Act of Bangladesh states that no bank may make loans to any institution in which a bank director is associated as director or partner.
The loan can only be approved when the majority of the directors vote in its favor. However, the opinion of the director who is in that organization will not be acceptable here.
Mohiuddin Khan Alamgir said in his letter that so far no dividend has been ‘paid’ from that alternative investment fund to Padma Bank, that they have not ‘returned’ the original money.
“That fund has been illegally sanctioned and the way in which that money has been invested or withdrawn from the bank’s capital has caused serious irregularities.”
Mohiuddin Khan Alamgir’s letter has asked to investigate the matter and identify those involved, as well as take steps to return the investment money to the bank.
In response to a question from bdnews24.com, Mohiuddin Khan Alamgir said: “Such acts must be punished. People’s money has been looted here. “
When asked why he made this accusation after so many days, the former president of the bank said: “Some employees of the bank hid the matter. Now the matter is in my hands, I have reported it.”
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According to the website of the Bangladesh Securities and Exchange Commission (BSEC), Strategic Equity Management Limited is managed by the Bangladesh Alternative Investment Fund. Premier Bank Limited is the trustee.
Chowdhury Zafarullah Sharafat, who is the older brother of Padma Bank Chairman Nafiz, is an independent director on Premier Bank’s board of directors.
On the same day that Mohiuddin Khan Alamgir sent a letter to the governor, Padma Bank sent a letter to the BSEC accusing him of “abuse of power and irregularities”.
The letter, signed by Padma Bank managing director Ehsan Khasru, said that Mohiuddin Khan Alamgir had “directly interfered” with the bank’s work during his tenure as president and approved the loan.
The letter also stated that Padma Bank’s Mohiuddin Khan Alamgir has been requested to help recover Tk 745.45 crore from 19 of those clients.
It has been said that Tk 8 crore 33 lakh 75 thousand have been transferred from the client’s loan account at different times to “City Medical College and Hospital owned by Mohiuddin Khan Alamgir”.
On the other hand, Mohiuddin Khan Alamgir denied the allegations by Padma Bank and said it “has no stake” in City Medical College and Hospital. The allegations made by Padma Bank are “false.”
Bdnews24.com did not respond to multiple calls from current Padma Bank chairman Chowdhury Nafiz Sarafat to discuss the Mohiuddin Khan Alamgir allegations.
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