HC dissatisfied over rescheduling money launderer’s defaulted loan
It orders the ACC to look into whether there is any violation of the law
The High Court (HC) on Tuesday expressed its dissatisfaction over the facilities provided by Bangladesh Bank for rescheduling defaulted loans of a money launderer.
Angered by the central bank's decision, the bench of Justice Nazrul Islam Talukder and Justice Izarul Haque Akand ordered the Anti-Corruption Commission (ACC) to look into the matter.
"We are not giving any order right now. However, you check whether there is any violation of the law," the court told the ACC lawyer after a suo moto hearing following a report published in an English daily on 28 June.
In its order, the HC said such a decision of Bangladesh Bank would encourage money launderers to commit corruption again.
According to the news report, the central bank allowed a person accused of money laundering to reschedule a defaulted loan of Tk199 crore taken from Bangladesh Commerce Bank Limited (BCBL) through forged documents.
Bangladesh Bank also gave the BCBL permission to waive interest to the tune of Tk71 crore on the defaulted loan of SB Exim owned by the alleged money launderer, Shahjahan Bablu.
However, according to the rules of Bangladesh Bank, no bank can reschedule any defaulted loan secured through forged documents.
In such a case, a bank must file a lawsuit with a court to recover the embezzled fund.
ACC lawyer Khurshid Alam Khan told the media, "I have read the news. This decision of Bangladesh Bank will encourage money laundering."
