Court clamps foreign travel ban on Premier Bank officers in Tk 30bn 'loan fraud'

ACC tells the court the accused officials were trying to flee the country

A Dhaka court has barred four officers of Premier Bank from leaving Bangladesh amidst allegations of approving a Tk 30 billion in fake loan.

Dhaka Metropolitan Sessions Judge Mohammed Ash-Shams Joglul Hossain issued this order upon a plea from the Anti-Corruption Commission or ACC.

The accused officials are Md Shahid Hasan Mallik, additional managing director and manager of Narayanganj branch; Mushfiqul Alam, vice president and second officer; Depak Kumar Debnath, foreign exchange in-charge; and Mohammad Mehedi Hasan Sarkar, credit in-charge of the same branch.

ACC Public Prosecutor Mahmud Hossain Jahangir confirmed the ban, noting an investigation for potential money laundering.

In his application, ACC Deputy Director Mostafizur Rahman stated the officials colluded to grant fraudulent loans to 43 suspicious garment exporters.

A three-member ACC team is investigating.

The court application revealed that the officials planned to smuggle money and flee the country, necessitating the travel ban.