MONEY LAUNDERING

ACC summons AB Bank ex-chair, MD

Staff Correspondent | Published: 00:19, Dec 28,2017 | Updated: 00:52, Dec 28,2017

 
 

The Anti-Corruption Commission on Wednesday summoned M Wahidul Haque, who recently resigned as chairman of AB Bank, and its former managing director M Fazlur Rahman to interrogate them over their alleged involvement in laundering around Tk 165 crore to the United Arab Emirates.
The money was laundered to the UAE through two suspicious organisations in the name of investment, ACC public relations officer Pranab Kumar Bhatacharjee told reporters.
ACC officials have asked the people to appear in the commission head office for interrogation while it will also quiz six other former and current officials of the bank in this connection, informed Pranab.
A Bangladesh Bank probe report revealed that AB Bank’s board of directors in December 2013 approved investment of $20 million in Singapore-based fundraising and investment company Pinnacle Global Fund Pte Ltd through the bank’s Offshore Banking Unit.
The report found that the OBU laundered the money to an account at UAE-based Abu Dhabi Commercial Bank in February 2014.
The central bank sent the report to the commission on November 15.
Following media report, AB Bank’s Wahidul, vice-chairman Selim Ahmed and director Fahimul Haque resigned from their positions in the bank.
Their resignations were disclosed at the bank’s annual general meeting held at a Dhaka hotel on December 20.

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