HC issues rule on money laundering allegation against National Bank

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FE ONLINE REPORT | Posted: Jan 11, 2023 8:01:16 PM

The High Court on Wednesday issued a rule requiring relevant authorities to explain within 10 days why they should not be asked to bring appropriate legal action against National Bank Limited and its board of directors for their alleged involvement in the corruption and money laundering by issuing a letter of credit (LC) in the name of the fictitious organizations.

Relevant government officials; The Bangladesh Bank and the Anti-Corruption Commission (ACC) have been implicated.

The HC also requested the Managing Director of the National Bank to submit the relevant documents regarding the alleged LC issued by the bank on behalf of Santana Enterprise and Inter-Asia Group PTE Ltd for the importation of products from overseas to this court. within 60 days.

The HC bench consisting of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat issued the rule and order following a writ motion filed by Supreme Court Counsel Chowdhury Hasan Mahmud Abdullah seeking the necessary directions about this question.

The petitioner’s lawyer, Md Munsurul Hoque Chowdhury, said that the National Bank board and their family members allegedly laundered money and committed acts of corruption by abusing their positions and powers ; and used fictitious organizations Santana Enterprise and Inter-Asia Group PTE Ltd for issuing LCs on behalf of importing goods from Singapore.

Attorney Shah Monjurul Hoque appeared for the nationwide ban, while AKM Deputy Attorney General Amin Uddin Manik represented the state at the motion hearing.

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