‘SBAC Bank chief flexed muscles to get loans’

 ‘SBAC Bank chief flexed muscles to get loans’

Probe finds Tk 40cr taken resorting to irregularities

SM Amzad Hossain

“>



SM Amzad Hossain

Amzad Hossain, chairman of South Bangla Agriculture and Commerce (SBAC) Bank, brought out Tk 40 crore from the private commercial bank misusing his powers and through forgery, according to an investigation into the alleged scam.

Of the amount, the bank gave a loan of Tk 20 crore to one Khulna Builders. In its inspection, Bangladesh Financial Intelligence Unit (BFIU) has not found the organisation’s existence in the place where it was supposed to be located, said sources aware of the investigation findings.

“Amzad had the loan approved abusing his power,” one of the sources said.

Amzad also allegedly created and approved loan applications in the name of the organisation’s staffers and then…

Read full article at www.thedailystar.net