A director of Shahjalal Islami Bank Limited was arrested yesterday for his alleged involvement in embezzling Tk140 crore from a Chittagong branch of the bank with the SIBL authorities having detected his link to the misappropriation of another Tk25 crore.
The bank authorities are going to file another case against the director, Mohammad Solaiman, who was also the bank’s chairman.
Anti-Corruption Commission’s Assistant Director Mohammad Rafiqul Islam with the assistance of the Detective Branch of police held Solaiman from his residence at Akram Tower in city’s Bijoy Nagar area.
The ACC official later told reporters that Solaiman had been arrested in a case filed for influencing the bank’s Jubilee Road branch to approve loans to Chittagong-based SK Steel, with which the director had personal business relationships.
The SIBL branch filed two cases – one against SK steel authority and another against Solaiman, his two brothers and former branch manager ANM Jahangir, who is Solaiman’s nephew, on charge of loan forgery of Tk140 crore.
The case was filed with the Kotwali police station of Chittagong.
“We have decided at an emergency board meeting to file an another case following an inquery conducted by the bank,” said SIBL Chairman AK Azad at a press conference yesterday.
“We have already informed the Bangladesh Bank about the new findings of embezzlement against Solaiman and requested punitive action. The central bank is conducting an inquiry against Solaiman.
“We will call an extraordinary general meeting very soon to take decision on the directorial post of Solaiman as he still holds the position,” said Azad.
He, however, denied the allegations Solaiman had raised against him on loan disbursement and recruitment.
Following the arrest, Solaiman claimed that AK Azad had been harassing him for “taking strong position against some illegal work of Azad.” He also claimed that Azad had used the ACC and other law enforcement agencies to arrest him.
Azad told reporters that Solaiman had approved loans to Joinab Steel and SK Steel by convincing the board that the clients had been known to him and he would be liable if they failed to repay.
Azad, however, admitted the responsibility of the board for the incident as they had been convinced by Solaiman.
This was the first time for a private bank to have unearthed anomalies against its director, he said.
SIBL Managing Director Farman R Chowdhury, who was at the press conference, claimed that the internal inquiry had found anomalies of Tk165 crore, including interests, against Solaiman.
The SIBL was burdened with non-performing loan of around Tk700 crore up to March because of such anomalies, he said.
The anomalies were from the 2010-2011 period when Solaiman became the chairman of the bank, said the MD.
According to the new inquery report, a loan of Tk23 crore was approved at the recommendation of Jubilee Road branch manager ANM Jahangir for its client Joinab Steel and its associate organisation Nasir and Brothers. False information about the stocked goods of the clients was presented for getting the loan.
Jahangir mailed Solaiman with information relating to the investment offer of Joinab Steel from time to time, which proves Solaiman’s involvement in the approval of the loan, says the report.
Joinab Steel deposited Tk7.63 crore to the account of Paradise Corporation, owned by Solaiman, instead of repaying the SIBL loan.
The report also says Solaiman has had assistance of some bank officials in the embezzlement.
