A Dhaka court today sentenced seven former officials of Oriental Bank, which has later been renamed as ICB Islamic Bank Limited, to life term imprisonment for misappropriating Tk 1.7 crore in the name of disbursement.

Judge Dr Akhtaruzzaman of the Special Judge's Court-5 handed down the punishment in absence all of the accused.

The court also fined the convicts Tk 1, 07, 95, 818.

The punishment of the fugitives will be effective from the day of their arrests or surrender.

On December 29, 2006 the then Bureau of Anti-Corruption filed the case with Motijheel Police Station in Dhaka.

Later, the anti-corruption watchdog pressed charges against the bankers on December 31, 2011. 

The officials are: former deputy general manager Imamul Haque, former senior vice president Shah Mohammad Harun, senior assistant Abul Kashem Mahmudullah, assistant vice-president Fazlur Rahman, executive officer and vice-president Torikul Alam, senior executive vice-president Mahmud Hossain and executive vice president Qamrul Islam.

Qamrul Ahmed, introducing himself the owner of M/s Tanveer Agency, opened an account at the bank's headquarter on July 27, 2005.

On the same day, he applied for Tk 1 crore loan, which was granted on that very day. Without making any delay, he encashed the money.