The Anti-Corruption Commission (ACC) Thursday questioned seven officials from Sonali Bank for their alleged involvement in lending Tk1.5bn to Partex Sugar Mill to import sugar.
The officials questioned are Bangabandhu Avenue corporate branch’s former deputy general manager Mejbah Uddin (currently working in their International trade finance division), head office deputy general manager Tariqul Islam Chowdhury, assistant general managers Abul Kalam M Ishaq and Sukhendu Bikash Saha, senior executive officer (industrial project financing) Md Shah Alam, executive officer Md Ismail, and former deputy general manager Mejbaul Haque of the Sonali Bank head office, ACC public relations officer Pranab Kumer Bhattacharya told reporters.
ACC sources said as per the bank rules, Partex Sugar Mill was supposed to deposit a minimum of 5% cash against their four Letters of Credit (LC) for importing sugar. Instead they deposited a Fixed Deposit Receipt (FDR) against the LCs in instances where the Sonali Bank officials have allegedly helped them with the fraud.
Moreover, the profit from FDR always goes to the client’s account. As a result, Partex Sugar have received profits from these LC’s, whereas, the Sonali Bank did not receive any money against these LCs, which incurred losses to the bank.