Banks asked to freeze accounts of Union Bank MD ABM Mokammel

The Bangladesh Financial Intelligence Unit (BFIU) has instructed banks to freeze the accounts of ABM Mokammel Hoque Chowdhury, managing director of Union Bank, and his wife.

The anti-money laundering agency issued the directive yesterday to suspend transactions in both their personal and business accounts for 30 days.

The BFIU also asked banks to submit all transaction records and vouchers over Tk 5 lakh of the Union Bank MD within the next two business days.

ABM Mokammel Hoque Chowdhury is reportedly a close associate of Mohammed Saiful Alam, chairman of the Chattogram-based conglomerate S Alam Group, which is believed to be a major beneficiary of the Awami League government ousted in August this year.

Union Bank is one of the six banks where the S Alam Group had significant influence over the board. 

Recently, the central bank reconstituted Union Bank's board.

While the bank is struggling to repay its depositors, on October 2 and 3, Chowdhury withdrew Tk 1.53 crore from the bank.

The Daily Star tried to reach Mokammel over phone for comments. He did not respond  immediately.