“We’ve received the complaint filed by former home minister Muhiuddin Khan Alamgir on the Padma Bank. We are working on the matter. We will seek the Padma Bank’s statement,” SEC Chairman Shibli Rubayat-Ul-Islam said at a dialogue organised by the Economic Reporters Forum in Dhaka on Saturday.
Alamgir, the founding chairman of the bank, has alleged that his successor Sarafat invested Tk 1 billion of the bank in a fund in a “breach of rules”.
“We will talk to the asset management company as well. We will check everything to determine which information is correct. Everything will happen according to the law of the land. There is no reason for deviation on our side,” said SEC chief Islam, responding to a query from a reporter.
Muhiuddin Khan Alamgir
Viewed as a blot in Bangladesh’s financial sector, Padma Bank is back into sharp focus after its current management traded charges with founding chairman Muhiuddin Khan Alamgir who points the finger at his successor Chowdhury Nafeez Sarafat. );
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After receiving the complaints, Bangladesh Securities and Exchange Commission says it will look at the charges ranging from abuse of office and embezzlement of money.
Dogged by loan scam and irregularities, the ownership and management of The Farmers Bank changed in 2018 before it was rechristened Padma Bank the following year apparently to restore its image.
MK Alamgir, a former home minister, now says incumbent Chairman Sarafat invested Tk 1 billion of the bank in a fund which is “in breach of rules”.
Chief Economics Correspondent, bdnews24.com File Photo
The Bangladesh Bank thinks Padma Bank Managing Director Ehsan Khasru “neglected duty” by breaching the rule that requires chief executives to secure the central bank’s permission to leave the country. );
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Such “unacceptable” action is a big obstacle to establishing good governance in banks, the central bank observed in a notice that asked for his explanation about the matter.
Khasru did not take not take phone calls or respond to messages for his comments for this story.
The Bangladesh Bank had given him until Jan 7 to come up with a statement. Officials at the Padma Bank said they do not know whether he answered the central bank, whose officials also declined to comment.
BULLETIN BOARD
Canadian University of Bangladesh presents English Genius STAFF CORRESPONDENT STAFF CORRESPONDENT
The Department of English, Canadian University of Bangladesh (CUB) has recently launched a competitive online event named English Genius with a view to bringing out genius minds from all over Bangladesh on multiple categories.
The event is being organized with CUB English Club as a co-host and youth organization Evolution360 as a promotional partner. The eligible participants for this amazing event are the students of college and HSC batch 2020. Deadline of registration is January 10, 2021. There are five segments in total where a participant can get the opportunity to participate in English Olympiad, Poem Writing, and Poem Recitation, Short Story, and Online speech. The rules to participate in all of these segments are simply made for the participants. The registration is FREE of cost. Most importantly, all the participan
Reazul Bashar and Farhan Fardaus,
bdnews24.com
Published: 25 Dec 2020 12:50 AM BdST
Updated: 25 Dec 2020 09:08 AM BdST The corporate office of Best Holdings Le Méridien Dhaka RACE Portfolio and Issue Management of Chowdhury Nafeez Sarafat has worked as one of the issue managers of Best Holdings Controversial businessman Giasuddin Al Mamun Best Holdings’ Chairman Amin Ahmad wanted to contest in elections with the BNP’s ticket Le Méridien Dhaka
The value of the land and the building of Le Méridien Dhaka in Nikunja doubled in a single revaluation in 2019 and the total value of assets of Best Holdings, which owns the 5-star hotel, jumped 126 percent in rounds of reassessments.