Dhaka, Bangladesh (BBN) – Premier Bank Limited has filed a criminal case against nine of its officials for misappropriating nearly BDT 600 million between 2011 and 2012.
The case was lodged with the Motijheel Police Station by a senior executive vice-president of the bank on Sunday, a police officer confirmed.
Shahinur Rahman, the then Motijheel branch manager, sanctioned a loan of BDT 593.40 million to Alppa Composite Towels Limited, a concern of Bismillah Towels Group, by bypassing the existing rules and regulations for loan approval, a senior official of the private commercial bank said.
It was alleged in some newspapers that the Premier Bank authorities confined some of the bank’s officials at its headquarters in Banani on charges of fund misappropriation.
But the bank’s senior official denied the allegations, terming them to be “exaggerations”.
Premier Bank, known as a third-generation private commercial bank, got the central bank licence in 1999, and has 64 branches across the country.
BBN/SSR/AD-21Jan13-8:15 am (BST)