Fresh loan scam at Sonali Bank

Gazi Anowarul Hoque :
The Anti-Corruption Commission (ACC) has launched an inquiry into a complaint filed against Showban International (Pvt) Limited that it reportedly embezzled a sum of Tk 6 crore from Sonali Bank Limited by managing GM Rafiqul Islam and DGM Mohammad Alauddin, sources said.
The bank itself sent a complaint to ACC for investigation against those officers who violated banking rules and regulation while sanctioning the loan.
“Recently, we have collected the loan disbursement documents from the bank. We are investigating the loan scam in a proper way,” Mahbub Alam, Deputy Assistant Director of ACC told The New Nation on Saturday.
According to the loan documents, the bank authority sanctioned Tk 1.20 crore as loan to Showban International to import capital machinery from Germany with the condition of giving registered mortgage.
The borrower, however, wanted to mortgage land for Tk 26 lakh, but the then AGM of RAJUK Branch Rafiqul Islam disbursed of Tk five crore violating banking rules in 2005. The borrower imported machinery from China instead of Germany. Thus the AGM got illegal benefits through over invoice.
In the same way, Mohammad Alauddin, DGM of the bank, disbursed Tk 1.20 crore without mortgage of 54.66 decimal lands which was a clear violating of the head office sanction. At the time of loan disbursing Mohammad Alauddin held the post of Branch Manager.
Sources said, by this time the borrowing company has been in bankruptcy. The bank filed a case against the loan receiver of about Tk 12 crore on 3rd March 2014 but the party has not been found anywhere.
ACC has already summoned GM Rafiqul Islam and DGM Mohammad Alauddin and they have been asked to explain as to why they disburse loans to Showban International without mortgage, sources said.
DGM Mohammad Alauddin told The New Nation on Saturday, “The loan was disbursed under order of higher authority.”