BASIC Bank dismisses DMD Monayem

Staff Correspondent | Published: 22:34, Oct 31,2016

 
 

Scam-hit BASIC Bank on Monday dismissed its suspended deputy managing director A Monayem Khan on grounds of financial irregularities.
An office order on the job termination of the official was issued by the bank’s human resource department, a senior official of BASIC Bank told New Age.
The official said that the board of directors of BASIC Bank had suspended Monayem in April, 2016 for his involvement in the financial scams.
Bangladesh Bank inspection teams earlier found huge irregularities in Basic Bank in sanctioning loans, which include no verification of customer’s creditworthiness, absence of proper procedures and giving loans to defaulters.
The central bank team unearthed that around Tk 3,500 crore had been misappropriated from BASIC Bank between 2012 and 2013 and some officials of the bank had been involved in the financial scams.
Most of the anomalies were detected in the bank’s Dilkusha, Shantinagar and Gulshan branches in Dhaka.
Bangladesh Bank earlier dismissed former BASIC Bank managing director Kazi Faqrul Islam due to his involvement in the financial scam.
Scam-hit BASIC Bank dismissed four of its top officials on grounds of financial irregularities.
The troubled bank earlier also dismissed its four top officials in December, 2015 for their alleged involvement in the financial irregularities. Of them, three were deputy managing directors and one general manager.
The DMDs are: Fazlus Sobhan, Md Ruhul Alam and Md Salim and general manager Mahbubul Alam. 

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