Standard Bank MD faces corruption charges, goes into hiding

Staff Reporter :
A Dhaka Court has issued arrest warrant against the Managing Director of Standard Bank, Md. Habibur Rahman in a corruption case, filed earlier by the Anti Corruption Commission (ACC).
The warrant was issued responding to an allegation of defalcating Tk 11 crore, filed with ACC earlier while Habibur Rahman was serving Mercantile Bank as the AVP.
Standard Bank authority said they have already sent Habibur Rahman on three months leave in a bid to sustain the bank’s reputation and trust of its valued customers.
Renowned business leader, former President of FBCCI, also the Chairman of Standard Bank Kazi Akram Uddin Ahmed said they knew nothing about the corruption issues of Habibur Rahman before appointing him as the Managing Director, but they will take necessary measures now to save the image of the bank also to preserve the interest of a huge number of its customers.
Kazi Akram Uddin Ahmed told that they have sought intervention and guidance of central bank for removal or to determine what to do about the MD as he is an accused in an ACC case.
Sources said the financial irregularities, loan forgery and finally issuing arrest warrant against the MD has put the Standard Bank into an unwanted crisis of image. Customers of the bank are also expressing their concern about safety and security of their hard earned deposits, although all the routine activities of the bank is going on as usually.
Sources said Habibur Rahman remains hiding to avert arrest, but he has been trying to join the bank again and some certain quarter is trying to help him in this regard.
Meanwhile analysts opine that as the managing Director has already faced charges of ACC, he has lost his morality to hold such a top position of any financial institute like a bank.
Although Habibur Rahman has claimed that he is victim of conspiracy and he is trying to resolve the issue through legal process.
Meanwhile the central bank guideline suggest that competent and professionally skilled persons will be eligible for the position of Managing Director but any person accused in criminal court, involved in forgery or morally degraded, will not be eligible to hold the position of MD.
The case on misappropriating Tk 11 crore was filed by ACC with Motijheel Thana and then arrest warrants were issued against three bank officials including Habibur Rahman while he was serving in Mercantile Bank.
Investigation Officer of the case, the Deputy Assistant Director of ACC, Mohammad Monirul Islam said the Senior Special Judge of Dhaka, Mohammad As-Shams Joglul Hossain issued the arrest warrant on April 28. Earlier on January 18 this year charge sheet was submitted against a total of five officials.