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Dhaka Tribune

NBL MD made OSD due to alleged irregularities

Update : 23 Jun 2015, 07:58 PM

National Bank Managing Director Shamsul Huda Khan has been made an Officer on Special Duty (OSD) due to his alleged involvement in financial irregularities.

The decision was made at the board meeting held at the bank’s headquarters in the capital yesterday. Bangladesh Bank General Manager Kazi Sayedur Rahman was present as an observer.

“The board raised some allegations against Huda and the complaints were seemed to be appropriate as per my initial observation,” said Syedur. Huda has been made OSD till further instruction for further investigation over the allegations.

“The legal action will be taken against him after detail investigation.’’

The board alleged that the MD was involved in financial irregularities in the recent sand filling activities at NBL twin-tower construction site that collapsed due to land subsidence, risking adjacent Sundarban Hotel recently.

Moreover, he allegedly took financial benefits personally from the bank in irregular way, alleged the board. 

The construction of the 12-story NBL tower at Karwan Bazar was started allegedly without necessary approval from Bangladesh Bank.

A day after the road collapsed near the construction on May 27, Bangladesh Bank asked the bank to submit necessary documents of the NBL tower construction including agreement made with the Korean company.

Though the bank replied to the queries made by the central bank in this regard, no further action has been in sight as yet on behalf of the Bangladesh Bank.

Despite, the NBL tower construction was started without permission, Bangladesh Bank did not take any action till now.

“Still we did not take any decision over the NBL tower construction works,” said Bangladesh Bank General Manager of Banking Regulation and Policy Department Chowdhury Md. Feroz Bin Alam.

On the other hand, the construction of NBL tower remained suspended since the incident of land subsidence.

The National Bank has already provided over Tk85 crore as advance against its tower, according to the published financial statement of 2014.  The project cost was estimated at around Tk200 crore.

An allegation was raised that a large amount of money of the NBL project went to the pocket of bank’s high ups. 

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