Dhaka, Bangladesh (BBN)– State-owned BASIC Bank Limited has fired two officials for their alleged involvement in a financial crime at its Gulshan branch in the capital Dhaka.
The officials are Shipar Ahmed and Zahid Hasan, who were deputy general manager and deputy manager, respectively, of the branch during 2011-2013. Mr. Ahmed was also the in-charge of the branch.
The board of the bank took the decision at a meeting on December 11, 2014 and an office order was issued last week, a bank official told BBN in Dhaka.
He also said the BASIC Bank authority will file criminal cases against them shortly.
The Bangladesh Bank (BB) earlier found different types of irregularities by the BASIC Bank in giving loans, which include non-verification of customer’s creditworthiness, absence of ‘know your customer (KYC)’ procedures, and extending loans to defaulters.
The central bank investigations detected financial irregularities involving around Tk 45 billion of loans in the three branches located at Gulshan, Dilkusha and Shantinagar in Dhaka between 2009 and 2013.
BBN/SSR/AD-18Jan15-8:05 am (BST)
