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Dhaka Tribune

Money may be recovered through court cases: Muhith

Update : 06 Nov 2013, 08:29 PM

Finance Minister AMA Muhith has said the Sonali Bank will recover the financial loss of Tk15bn from the Hall-mark scam through court cases against the accused.

The minister was speaking to journalists on Wednesday after meeting the newly appointed board of directors of the country’s largest state owned commercial bank Sonali Bank. Managing Director and CEO of Sonali Bank Pradip Kumar and Chairman of Sonali bank board Prof AHM Habibur Rahman also attended the meeting.

Pradip told reporters that the total liabilities of Hall-mark scam were Tk25bn but total wealth against the scam was Tk11.7bn. “We have taken different strategies to release the rest of the amount from Hall-mark Group,” he said. 

Muhith said the newly-appointed the board of directors of Sonali Bank had asked him for two things: to not give

Tk6bn for inland bill purchase of 26 private and state-owned commercial banks and to increase the interests on government bonds. He said there had been no decisions regarding the inland purchase bills as this matter was within the jurisdiction of Bangladesh Bank.

He also said they wanted assistance from the finance ministry regarding those issues and the Sonali Bank would financially benefit from a waiver of the amount Tk6bn.

“Sonali Bank gives 37 types of social services to the country’s people which the private commercial banks cannot do,” the minister said. He also said in most of the cases pensions of the Bangladesh armed forces were given from Sonali Bank without any service charge.

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