Finance Minister AMA Muhith said the investigation has found that former Chairman of BASIC Bank Sheikh Abdul Hye Bacchu was involved in a loan scam of Tk2,200 crore.
He said the involvement of the ex-chairman was revealed in the finance ministry’s probe report.
Muhith was speaking at the Media Award 2017 ceremony of the Anti-Corruption Commission at Shilpakala Academy in Dhaka on Wednesday.
He said the ACC is also now investigating the loan scam.
According to the sources, the ACC will interrogate Sheikh Abdul Hye Bachhu in connection with the incident.
In financial scams that took place between 2011 and 2013, three of the state-run banks — Sonali Bank, Janata Bank and BASIC Bank — had lost Tk12,000 crore.
In September 2015, the ACC filed 54 cases against 56 people, including bank officials.
In its inspection, the BB found irregularities in approving loans of around Tk4,500 crore in the four branches between December 2009 and November 2012.
Majority of the loans were approved by the then chairman Bacchu against forged documents without proper scrutiny and collateral.
Besides, the bank gave loans to several companies and approved loans to clients soon after they had opened accounts. In several inspection reports, the Bangladesh Bank mentioned Bacchu’s involvement in the loan scams.
In July 2014, Bacchu resigned from the bank on Bangladesh Bank’s advice. Bangladesh Bank then sent the scam case to the ACC for further investigation.
In June 2015, Finance Minister AMA Muhith for the first time raised the BASIC Bank issue in the budget session of the Parliament.
After a meeting with BASIC Bank officials in 2016, the minister told reporters that the loan scam was no less than robbery.
“Big embezzlement took place in BASIC Bank. Its then Chairman Sheikh Abdul Hye Bacchu was behind it.”
Muhith further said: “There was ample evidence of Bacchu’s wrongdoing, and it would be easy to take action against him.”
Tuesday, July 21, 2026
