Shahjalal Islami Bank on Friday night filed a case against 11 top executives of Bismillah Towels Limited and former SIB Eskaton branch manager on the charge of embezzlement of about Tk 102 crore from the bank branch.
The accused persons listed the first information report include Khaza Solaiman Anwar Chowdhury, managing director of Bismillah Towels, managing director of Network Freight System Limited and owner of Banglus Middle East FZE, UAE, Nowrin Hasib, chairman of Bismillah Towels and director of Network Freight System Limited, Bismillah Towels directors Abid Hasan, Nahid Anwar Khan, Khandekar Muhammad Moinuddin Ishaq, Safiqul Islam Anwar Chowdhury, and Sarowar Jahan, Akbar Aziz Muttaqui, deputy managing director of Bismillah Towels, and director of Network Freight System, M Abul Hossain Chowdhury, senior manager of Bismillah Towels, M Akter Hossain, chairman of Network Freight System, M Mainuddin owner of TW Express, and M Aslamul Haque, suspended manager of Shahjalal Islami Bank’s Eskaton branch.
M Nakibul Islam, the new branch manager of Shahjalal Islami Bank filed the case with Ramna police station, according to the FIR.
The FIR states that Bismillah Towels illegally embezzled the money in collusion with the former branch manager of Shahjalal Islami Bank Aslamul Haque, now under suspension.
The manager of the bank branch, Aslamul Haque illegally allowed Bismillah Towels Limited to open the back to back letter of credit against sales contract without the master letter of credit, said the FIR and withdraw the money causing loss to Shahjalal Islami Bank, said the FIR.
Bismillah Towels drew about Tk 240 crore from the bank branch between October 2011 to Jun 2012, abusing the whole process, said the FIR.
Later, Bismillah Towels showed that about Tk 137 crore was adjusted as export prize, the FIR said.
The FIR said that Shahjalal Islami Bank’s head office instituted several investigations out of suspicions that the credit was provided on fishy grounds and it would risky to realize it.
The bank’s inspection teams found that Bismillah Towels provided sales contract it had signed with International Trading Company, USA, having no address, said the FIR.
No importer could be identified from the sales contract as it does not provide the designations of the persons who had signed the contract on behalf of International Trading Company, USA, said the FIR.
The commercial invoice showed Banglus Middle East FZE, UAE and Banglus Singapore as the notifying party representing International Trading Company, USA, said the FIR.
Shahjalal Bank found out that the owner of Banglus Middle East FZE, UAE Khaza Solaiman Anwar Chowdhury is also managing director of Bismillah Towels Limited, the FIR said.
The FIR said the then manager of the Eskaton branch of Shahjalal Islami Bank sanctioned the credit without scrutinizing the loan documents of Bismillah Towels.
The FIR said that the Bismillah Towels submitted false 119 shipping documents to the bank branch as an exporter of products.
Bismilla Towels prepared the false documents at the office two Chittagong based companies: TW Express and Faridpur Shipping Line, said the FIR.
Shahjalal Bank’s inspection team also found out that Network Freight System, a sister concern of Bismillah Towels, issued fake house bills of lading.
All these forgery was exposed by reviewing the export general manifest with Chittagong Custom House, said the FIR.
Plaintiff M Nakibul Islam refused to reply to questions from New Age.
The matter is ‘very confidential’ and it is not for the media, he said.
Anti-Corruption Commission is investigating into allegations that Bismillah Group, of which Bismillah Towels is an enterprise, embezzled around Tk 1,100 crore from five banks, including Shahjalal Islami Bank, by producing fake documents. (Source)
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