Padma Bank Fails to Repay BTRC Dues, ACC Investigates CRI’s Fixed Deposits
Three years after its establishment in 2013, Farmers Bank plunged into a severe liquidity crisis due to widespread irregularities and corruption. Despite this, a substantial amount of government funds was deposited in the struggling bank. In November 2017, when Awami League leader Mahbubuddin Khan Alamgir resigned as chairman, controversial businessman Nafiz Sarafat took over the leadership. The bank was subsequently rebranded as Padma Bank.
That same year, Bangladesh Telecommunication Regulatory Commission (BTRC) deposited significant funds in Padma Bank’s Motijheel, Mirpur, Bashundhara, and Imamganj branches. As of now, BTRC is owed BDT 39.42 crore by the bank. Despite holding multiple meetings with Padma Bank over the years and sending numerous letters to Bangladesh Bank, the Ministry of Finance, and the Governor of Bangladesh Bank, BTRC has yet to recover its dues.
According to sources, at the end of January this year, BTRC once again decided to issue a letter to Padma Bank. Additionally, the regulatory body plans to request Bangladesh Bank to facilitate a tripartite meeting on the matter.
Meanwhile, Padma Bank CEO Kazi Md. Talha has told the media that repayment of the outstanding amount is awaiting a decision from the task force. On the other hand, Mohiuddin Ahmed, President of the Mobile Phone Subscribers’ Association, has demanded accountability, stating, “The officials who deposited BTRC’s money in a weak bank like Padma and earned additional commissions from it should be held responsible.”
In a separate development, the Anti-Corruption Commission (ACC) has discovered a fixed deposit of BDT 35.21 crore under the name of the Awami League’s research organization, the Center for Research and Information (CRI). ACC Director General Md. Akhter Hossain disclosed this information at a press conference held at the commission’s headquarters in Segunbagicha, Dhaka, on Tuesday.
He confirmed, “CRI has a fixed deposit of BDT 35.21 crore in IFIC Bank, and we have also found evidence of transactions in Sonali Bank.”
According to ACC sources, CRI’s board of trustees includes ousted-Prime Minister Sheikh Hasina’s ICT Advisor Sajeeb Ahmed Wazed (Joy) as chairman, his sister Saima Wazed Putul as vice-chairman, along with Sheikh Rehana’s son Radwan Mujib Siddiq and former State Minister for Power Nasrul Hamid as trustees.
