Bangladesh Bank yesterday banned 10 members of Sikder family and two officials of Sikder Group from using international credit cards for two years as they took loans from National Bank Ltd beyond their credit card limit grossly violating the banking rules.
National Bank Limited has apologised to Bangladesh Bank for extending unprecedented amounts of credit card loans to its directors and their relatives violating the rules.
The Bangladesh Bank has fined National Bank Tk 55 lakh as it tried to conceal loan related information of 11 persons, which is a gross violation of the banking rules.
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National Bank allowed 11 persons, including its board directors and their family members, to spend a staggering $10.65 million (about Tk 91.4 crore) through credit cards, in a serious breach of banking rules.