Abul Hashem has been serving the bank as chairman since 2020
The Anti-Corruption Commission yesterday pressed charges against former BASIC Bank chairman Sheikh Abdul Hye Bacchu, his wife Shirin Aktar and six others over money laundering.
BASIC Bank is experiencing a deep liquidity crunch as depositors have been withdrawing money for weeks following news that the state-run lender is going to be acquired by a private commercial bank.
Law enforcers have no idea where former BASIC Bank chairman Sheikh Abdul Hye Bacchu is even though a Dhaka court has so far issued 52 warrants for him in as many cases since February 28.
A recent rush to withdraw money from the BASIC Bank and National Bank is worsening the situation the troubled institutions are facing.
As a state-run bank, BASIC Bank's officers and employees enjoy and job security alongside various employee benefits -- including salaries, provident fund facilities, gratuity, retirement allowance -- which may differ from those offered at City Bank.
They submitted a memorandum to Bangladesh Bank governor
State-owned and trouble-ridden BASIC Bank is expected to merge with City Bank — a development that comes less than a week after the government decided in principle to merge four state banks
The duo has so far defaulted on loans of Tk 904 crore given by different banks
Abul Hashem has been serving the bank as chairman since 2020
The Anti-Corruption Commission yesterday pressed charges against former BASIC Bank chairman Sheikh Abdul Hye Bacchu, his wife Shirin Aktar and six others over money laundering.
BASIC Bank is experiencing a deep liquidity crunch as depositors have been withdrawing money for weeks following news that the state-run lender is going to be acquired by a private commercial bank.
Law enforcers have no idea where former BASIC Bank chairman Sheikh Abdul Hye Bacchu is even though a Dhaka court has so far issued 52 warrants for him in as many cases since February 28.
A recent rush to withdraw money from the BASIC Bank and National Bank is worsening the situation the troubled institutions are facing.
As a state-run bank, BASIC Bank's officers and employees enjoy and job security alongside various employee benefits -- including salaries, provident fund facilities, gratuity, retirement allowance -- which may differ from those offered at City Bank.
They submitted a memorandum to Bangladesh Bank governor
State-owned and trouble-ridden BASIC Bank is expected to merge with City Bank — a development that comes less than a week after the government decided in principle to merge four state banks
The duo has so far defaulted on loans of Tk 904 crore given by different banks
Several big loan scams in the banking and financial sectors came to the fore in the last decade and the Anti-Corruption Commission (ACC) has done its job by filing cases. But, no progress is apparent.
