BFIU seeks bank records of ex-BB governors, deputies

BFIU of Bangladesh Bank

Dhaka, Aug 13 -The Bangladesh Financial Intelligence Unit (BFIU) has sought bank account details of three former governors and six former deputy governors of the Bangladesh Bank.

The move comes following a request from the Anti-Corruption Commission (ACC) as part of an investigation into allegations of corruption and mismanagement in the banking sector.

The three former governors are Dr Atiur Rahman, Fazle Kabir and Abdur Rouf Talukder, all of whom served during the 15-and-a-half-year rule of the Awami League government.

The allegations suggest that the country’s banking sector was systematically weakened during their tenure.

The six deputy governors whose bank accounts have been subpoenaed are Sitangshu Kumar Sur Chowdhury (SK Sur), Masud Biswas, SM Moniruzzaman, Abu Hena Mohammad Razee Hasan, Kazi Saidur Rahman and Abu Farah Mohammad Naser.

Allegations Against Former Governors

Dr Atiur Rahman’s tenure was allegedly marked by a weak regulatory oversight, which is said to have enabled financial scandals such as the Hall-Mark and Basic Bank loan scams.

He is also accused of being a ‘mastermind’ behind the cover-up of the 2016 Bangladesh Bank reserve heist, an event that ultimately led to his resignation.

During his time as governor, Fazle Kabir allegedly approved the controversial takeover of Islami Bank Bangladesh and Social Islami Bank by the S Alam Group.

According to the information, he allegedly approved these takeovers in the dead of night, paving the way for large-scale looting at the banks.

He is also accused of relaxing loan policies to conceal default loans, keeping interest rates artificially low at 9 percent and introducing methods for loan defaulters to get off with minimal payments.

Serving as governor for two years, Abdur Rouf Talukder is said to have made numerous controversial decisions. He resigned from a secret location after the fall of the Awami League government.

The report claims that his tenure saw the continuation of fraudulent loan distribution and that he failed to address irregularities, with allegations that he became an accomplice to the businesspeople involved.

He reportedly issued a new policy offering significant concessions to loan defaulters and allegedly had new money printed to provide funds to S Alam Group banks.

According to sources, the three former governors have largely remained out of the public eye since the change in government.

Dr Atiur is believed to have left the country following the fall of the Hasina government, although his passport has been ‘blocked’ over his alleged link to the reserve heist.

Fazle Kabir is believed to still be in Bangladesh but has not appeared in public, while Abdur Rouf Talukder reportedly went into hiding after August 5, though he is also thought to remain in the country.

Deputy Governors Also Under Scrutiny

Among the former deputy governors, SK Sur Chowdhury and Masud Biswas, the latter a former chief of the BFIU, are now behind bars on charges of amassing wealth beyond their known sources of income.

The report also makes serious allegations against the others, accusing SM Moniruzzaman of halting bank inspections during his tenure; former BFIU chief Razee Hasan of failing to act against money laundering under his watch; Kazi Saidur Rahman of triggering turmoil in the foreign currency market; and Abu Farah Mohammad Naser of crippling the banking sector by excessively relaxing loan policies. - UNB