Basic Bank
Withdrawals put BASIC Bank in liquidity crisis
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.
Cops clueless about Bacchu’s whereabouts
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.
Basic, National Bank Mergers: People withdrawing money in panic
A recent rush to withdraw money from the BASIC Bank and National Bank is worsening the situation the troubled institutions are facing.
BASIC Bank officials ‘terrified’ by impending merger
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.
BASIC Bank employees want merger with another state bank
They submitted a memorandum to Bangladesh Bank governor
City Bank eyes takeover of BASIC Bank
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
Former Ctg chamber president, his wife ordered to clear Tk 184 crore default loans
The duo has so far defaulted on loans of Tk 904 crore given by different banks
Anti-corruption day: Cases filed, but no progress in probes
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.
BASIC Bank loan scams: ‘A drama is all we’re watching’
The High Court yesterday expressed disappointment at the embezzlement of large amounts of money from the state-run Basic Bank and the Anti-Corruption Commission’s failure to press charges in any of the 56 cases filed over the bank’s loan scams in the last seven years.
BASIC Bank staff confine board members for 4 hrs
A section of employees of BASIC Bank confines board members of the bank for nearly four hours demanding reinstatement of the previous salary structure.
Basic Bank employees stage demo
Basic Bank employees stage demonstration at its head office in Dhaka’s Motijheel area protesting decrease of their salaries.
Plea seeks enquiry over BASIC Bank recruitment of 1,173 employees
An application is filed with the High Court seeking its order on the government to conduct an enquiry into an alleged corruption in appointments of 1,173 employees in BASIC Bank during the chairmanship of Sheikh Abdul Hye Bachchu.
HC asks Mozaffar to surrender to court for embezzling Tk 141cr from BASIC Bank
The High Court cancels the bail of businessman Syed Mozaffar Hossain in a corruption case filed for misappropriating Tk 141 core from BASIC Bank and ordered him to surrender to the trial court immediately.
Tk 4,500cr ‘vanishes’
Nobody “knows” where it is. The 4,500 crore taka laundered from BASIC bank between 2009 and 2013 has apparently just disappeared.
BASIC Bank: Two held over embezzlement of Tk 75.66cr
The Anti-Corruption Commission (ACC) yesterday arrested two people in a case filed over misappropriation of about Tk 75.66 crore from the state-run BASIC Bank.
BASIC drowning in default loans
BASIC Bank continues to be overwhelmed with default loans despite going on a loan rescheduling spree, with the scam-hit bank logging in operating loss of Tk 118 crore last year.
BASIC Bank scam: ACC to file plea challenging ex-DMD's bail
The Anti-Corruption Commission (ACC) will file six appeals with the Supreme Court challenging the High Court verdict that granted bail to Fazlus Sobhan, former deputy managing director of BASIC Bank, in six loan-scam cases.
BASIC 'plunderers' go happy
In the four years between 2009 and 2013, Tk 4,500 crore was swindled out of BASIC, once a healthy public bank. But what followed was more shocking than the country's biggest loan scam itself.
Ex-BASIC Bank brass Fazlus Sobhan gets bail
The High Court grants permanent bail to Fazlus Sobhan, former deputy managing director of Basic Bank, in six cases involving loan scam of Tk 4,500 crore.
