Standard Bank’s rejoinder and our reply

Standard Bank has sent a rejoinder to a report titled "Standard Bank uneasy with its managing director over corruption charges" published by The Business Standard yesterday (19 November), stating that the allegations against its MD Habibur Rahman in the report are "false and intentionally motivated."

In a statement issued yesterday, the bank said, "It is highly inappropriate and defamatory to label someone as an accused before any allegation is verified or proven. Sadly, your report accuses Mr Md Habibur Rahman of guilt, allegedly based on a Bangladesh Bank report. This claim is untrue, as no official report has been issued by the central bank stating Mr Habibur is guilty of the conduct mentioned."

"Rather, the letter [Ref No BRPD (CMS)/651/28/2025-14491] issued on 6 November 2025 by the BRPD Division 2 instructing the chairman of Standard Bank to retain Mr Habibur Rahman in his position proves the allegations are false and intentionally motivated," the rejoinder stated.

"The report's claim regarding the removal of various bank employees without reason is entirely baseless. All terminations were valid and in accordance with the bank's policy, rules, and regulations," it stated.

"The report wrongly states that Mr Habibur Rahman's tenure at Union Bank was three years; his actual tenure was one year and two months," the rejoinder added.

Our reply:

Our report is based on the Bangladesh Bank investigation and the ACC charge-sheet reports.