The High Court yesterday summoned Jamuna Bank's Managing Director Shafiqul Alam to appear before it on January 29 for not complying with its 2017 directive regarding non-payment of Fixed Deposit Receipt (FDR) money of Tk 51 lakh.

The order was passed by the bench of Justice Mamnoon Rahman and Justice Ashish Ranjan Das following a petition filed by AIM Hasanul Mujib, a businessman.

Mujib had presented an FDR made by one Talebur Rahman at the bank's Nawabpur branch as Mudaraba Term Deposit in 2005.

The deposit matured after five years.

Rahman gave the power of attorney to Mujib for drawing the FDR money from the bank, according to the petitioner's counsel Barrister ABM Altaf Hossain.

Since Jamuna did not release the FDR money to Mujib, he knocked on the doors of the Bangladesh Bank but in vain.

He then filed a writ petition with the HC against the authorities concerned of the BB and Jamuna. 

Subsequently, the HC on February 12, 2017 directed Jamuna to pay Tk 51 lakh to Mujib against the FDR in 30 days.

The Supreme Court's Appellate Division also upheld the HC verdict, but the bank did not give the money to Mujib.

The HC on January 24 last year issued a contempt of court rule against the BB governor, the finance secretary, the Jamuna's MD and three others for not complying with its directive.

“This is a blatant violation of the court order and contempt of court,” Hossain said.

Contacted, Alam said the bank did not give the money to Mujib, who came with an authorisation letter from Rahman, as the FDR is a non-transferrable instrument.

Only the instrument holder himself can collect the sum, as per the rules.

The bank had asked Mujib to come with Rahman but he failed to. “Even we tried to contact the account holder but could not reach him,” said Alam.

Since Mujib has gone to court, the matter will now be dealt by the bank's legal department, he said. Jamuna Bank is represented by Ajmalul Hossain QC in the case.