Former Ctg chamber president, his wife ordered to clear Tk 184 crore default loans

A Chattogram court today ordered Murshed Murad Ibrahim, a former president of the Chittagong Chamber of Commerce and Industry, and Mahjabin Murshed, Ibrahim's wife and a former lawmaker, for clearing Tk 184 crore of their defaulted loans.

Chattogram Money Loan Court Magistrate Mujahidur Rahman issued the order against a money loan defaulting case filed by the Agrabad branch of the Basic Bank.

The court also imposed a foreign travel ban on Ibrahim, also the managing director of Crystal Group, and his wife, who is also a director of Crystal Group.

The two were also asked to submit their passport to the court, said Rezaul Karim, bench assistant of the court.

In 2021, Basic Bank authorities moved to the Chattogram Money Loan Court for the recovery of the loans from the two.

Despite several attempts, this correspondent could not reach Ibrahim and his wife for comments.

The duo has so far defaulted on loans of Tk 904 crore given by different banks.

Basic Bank has so far filed six cases against the duo for defaulting on loans worth Tk 524 crore.

Various banks, including Farmers Bank, Rupali Bank, Sonali Bank, Trust Bank, City Bank, Premier Bank, National Finance Limited, owe Ibrahim and his wife over Tk 380 crore of defaulted loans, according to the information provided by the Chattogram Money Loan Court and banks.

According to the cases filed by Basic Bank, no immovable property was given as collateral against these loans.

The loans were disbursed on the basis of trust receipts and personal guarantees signed by the defendants.

After taking the loan, the defendants operated the business but did not repay any loan.