Depositors on Saturday alleged being cheated after depositing their money in Padma Bank.
They also said that they had deposited it in the bank thinking it was safe and risk-free. But a gang under the influence of the previous Awami League-led government turned the country's banking sector into a state of loot.
The depositors also claimed to have been robbed of lakhs and crores of taka, going door to door to bank officials but not getting any solution. Many are unable to withdraw their money even after pleading with Padma Bank officials.
At a press conference at the Dhaka Reporters Unity (DRU) Sagar-Runi Auditorium in the capital, the victims demanded a roadmap with a specific time frame from Bangladesh Bank to return the money.
In addition, they demanded an impartial investigation through Bangladesh Bank and the Anti-Corruption Commission (ACC); a ban on the accused from leaving the country, cancellation of passports and seizure of assets.
Otherwise, they warned of a larger movement for the affected customers.
At the press conference, Md. Ibrahim said: "We have not come here just to express our sorrow, but to expose one of the biggest banking corruption cases in the history of Bangladesh. Our goal is to expose the masterminds of a well-planned financial scam. Those who have embezzled around Tk2,500 crore from the savings, pensions and business money of 200,000 depositors.
He also said: "Our biggest question is - after embezzling thousands of crore taka from the bank, how did Tarek Reza Khan get a no-objection certificate to leave the bank after resigning from Padma Bank and is still active in the banking sector? What is more worrying is - his corrupt associates are also in charge in various banks, as if nothing had happened. This is not only an example of lack of justice, but also a reflection of extreme negligence towards justice and accountability in the financial sector of Bangladesh. We want to know - who or who is sponsoring these corrupt people?"
Marzia Akhter, another victim, said: "My father kept a deposit in Padma Bank thinking about the happiness of the family. But now my mother is seriously ill, suffering from kidney problems. At this time of danger, my father has no money. There is uncertainty about my mother's treatment. Even though there is money in the bank, I cannot withdraw my money for months. Branch officials are wasting time saying today, tomorrow, the day after tomorrow. I have gradually met many victims who were cheated in Padma Bank. Now we have united, we want a solution. We have to return our deposit. Bangladesh Bank has given the licence to Padma Bank, they have to take responsibility.”
Another depositor, Juella Akhter, said: "I have kept the money I collected little by little in the bank." Other family members have also kept money in the bank, thinking it is safe, but now we are not getting any money. It is said that savings are the friend of danger. And when we are in danger, we are not able to withdraw our savings. There is nothing more painful than this. Many times when we go to the bank for money, the officials misbehave with us. They threaten us and throw us out. In such a situation, to whom will we go, to whom will we seek a solution. Is there no helper for us in the country!”
In written statements, the speakers said that after Chowdhury Nafiz Sarafat took charge as the new chairman of the bank, a ray of hope began to appear for overcoming the crisis of the bank under his leadership, and Bangladesh Bank provided the bank with some policy benefits based on his promise to bring foreign investment.
But unfortunately, Sarafat failed to keep his promise. Instead, he sold 65% of the shares of Padma Bank to five state-owned institutions, Sonali Bank, Rupali Bank, Agrani Bank, Janata Bank and Investment Corporation of Bangladesh for a total of Tk715 crore.
After this transaction, Sarafat's behavior became more arbitrary and he was accused of more financial corruption. With the help of an authoritarian government, he rose to a position of influence and looted assets from the bank in various ways.
This was not an isolated incident of corruption but a long-running secret partnership, depositor Faisal Bhuiyan said: At the heart of this corruption are two influential individuals, former chairman of Padma Bank PLC Chowdhury Nafiz Sarafat and former Managing Director and CEO Tarek Riaz Khan.
This inner circle is alleged to have been involved in the following crimes: sanctioning loans through forgery and forged documents, disbursing SME loans without approval, embezzling about Tk800 crore (through disbursing fake loans), and laundering money abroad. When Tarek Riaz Khan joined as MD in 2019, Padma Bank had Tk1,200 crore in cash. When he resigned in 2024, the bank's position stood at negative Tk400 crore.
At the press conference, depositor Mirazur Rahman said: "We kept our business money in the bank, now we are beggars on the streets. We are not getting our hard-earned deposits back. We are not getting a solution even after going to the bank's branch office, head office and Bangladesh Bank. As a result, we, the ordinary depositors, have lost all our savings and become destitute."
