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
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.
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.
Jatiya Party lawmaker Mahjabeen Morshed and her husband have been sued for Tk 275-crore loan scam at the state-run BASIC Bank.
Anti-Corruption Commission (ACC) sues Jatiya Party lawmaker Mahjabeen Morshed, her husband and five others for allegedly misappropriating around Tk 275crore of Basic Bank.
Around Tk 20 crore was transferred to bank accounts of two firms, owned by Sheikh Abdul Hye Bacchu's younger brother, from several companies that got loans from BASIC Bank through scams when Bacchu was its chairman.
Former BASIC Bank chairman Sheikh Abdul Hye Bacchu has been interrogated by the Anti-Corruption Commission (ACC) in scam cases.
The High Court yesterday severely rebuked the Anti-Corruption Commission for foot dragging and showing weaknesses in investigating cases over the BASIC Bank loan scam. The commission lacks neutrality, transparency and competence in dealing with the cases, the court said, adding that the ACC is applying the “pick and choose” policy as "it keeps detaining and releasing people in connection with the cases".
The High Court rebukes the Anti-Corruption Commission (ACC) for dillydallying and weakness of its investigation into the cases filed for Basic Bank loan scam.
BASIC Bank has finally been able to trace 50 firms which took loans from the bank showing fake documents with the help of its former chairman Abdul Hye Bachchu.
The Supreme Court expresses discontent at the Anti Corruption Commission as it did not implicated the then chairman of BASIC Bank Sheikh Abdul Hye Bacchu and its former board members in two loan scam cases involving Tk 75 crore.
