HC wants to know steps taken against 5 BB deputy governors

The High Court on Tuesday has asked The Bangladesh Bank (BB) and Anti-corruption commission (ACC) to inform what steps have been taken against 249 central bank officials including five former deputy governors in connection with the embezzlement of Tk3,700 crore.

The court asked the ACC to submit a report within 27 October, the hearing day on the matter.

The High Court bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat passed the order taking a report published in a national daily into cognisance.

Earlier on 17 October, a national daily published a report titled "Five Deputy Governors responsible for looting TK3700" based on an investigation report of the Bangladesh bank.

According to the report, a total of Tk3,730 crore has been embezzled from Bangladesh non-bank financial institutions (NBFIs) Industrial Finance Company Limited (BIFC) and International Leasing and Financial Services Limited (ILFSL).

Last year another HC bench formed a committee to investigate the scam of the two NBFIs.

The news report said, a total of Tk3,730 crore has been embezzled from BIFC and ILFSL listed in the capital market with illegal unsecured loans. Out of this, ILFSL has taken Tk3,130 crore under the name of Prashant Kumar Halder (PK Halder) imprisoned in India and his various organisations. From BIFC, General Secretary Major (Retd) Mannan and his organisation took Tk600 crores. Despite the massive embezzlement, the insiders of the organisation and the responsible officials of Bangladesh Bank remained silent.

The report further said that as a result of this unprecedented looting, the liability of the two financial companies are double the value of their assets. The total assets of ILFSL are worth Tk4,598 crores while their total liability is Tk7,810 crores. Similarly, BFIC's total assets are worth Tk927.29 crore against the liability of Tk1835.96 crore.

According to the report, all those who were on the board of directors of the two financial institutions during the looting and embezzlement that crippled the country's economy were the cohorts of PK Halder and Major (retd) Mannan.

In the investigation report, Bangladesh Bank's Financial Institutions and Markets Department and Banks and Financial Institutions Inspection Department were pointed out as responsible behind this embezzlement.

Three deputy governors, 6 executive directors, 11 general managers (GMs) and 15 deputy general managers (DGMs) and 124 other officials at various levels who served in the Financial Institutions and Markets Department of Bangladesh Bank from 2009 to 2020 were held responsible in the report.

Besides, a total of 51 people including two deputy governors and executive directors of the Bank and Financial Institutions Inspection Department have been held responsible.

Also the names of two deputy governors, eight executive directors, five GMs and a total of 29 officials of the financial institution inspection department came up in the report.