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Published : 29 Oct 2025, 11:57 PM
Police have sought court permission to conduct a full investigation into allegations that former Premier Bank chairman and Awami League leader HBM Iqbal “threatened to kill” the bank’s current chairman and managing director.
At the same time, the bank’s board has decided to move all its operations out of Iqbal Centre -- a building owned by Iqbal -- amid the ongoing dispute over rent payments.
Banani Police chief Russell Sarwar said, “We received the complaint on the 14th of September. It was recorded as a general diary, and a sub-inspector has been assigned to investigate.
“A petition has already been submitted to the court seeking permission for a full investigation.”
He said the matter will be fully investigated once the court grants approval.
The complaint was filed by the bank’s then additional managing director (AMD) Shahed Sekandar on behalf of Premier Bank, alleging that Iqbal made multiple phone calls threatening to kill the bank’s Chairman Arifur Rahman and Managing Director Mohammad Abu Jafar if overdue rent payments were not cleared within the deadline.
According to the police filing, Iqbal phoned twice on Sept 12, in the morning and again at night, demanding payment for the rent of the bank’s Gulshan branch at the Renaissance Hotel and offices at Iqbal Centre by 5pm on Sept 14.
It cited Iqbal as warning that if the payment was not made in time, the chairman and MD would “face trouble” and that Abu Jafar’s house would be “vanished”.
He also allegedly threatened to cut off water and electricity connections to the bank offices.
The following day, on Sept 13, Iqbal reportedly called Shahed again, asking that rent be cleared by Sept 15, warning that otherwise the two senior officials would face “dire consequences”.
A senior bank official, requesting anonymity, said the bank currently occupies Iqbal Centre, for which it pays around Tk 65 million in monthly rent.
The official added that after the new board took over, Bangladesh Bank began investigating Iqbal’s alleged loan irregularities and recruitment anomalies.
“Because of the reputational concerns, the new board decided to move out of Iqbal Centre immediately and announced this through a newspaper notice. The bank also halted rent payments due to unsettled dues owed by Iqbal to the bank. Angered by this, Iqbal made the threatening calls,” the official said.
The alleged threats were later raised in the bank’s board meeting, which decided to file the GD against Iqbal, he added.
Arifur, who succeeded Iqbal as chairman, declined to comment on the issue.
Attempts to reach MD Abu Jafar and AMD Shahed were unsuccessful.
Following the July Uprising that toppled the Awami League government on Aug 5, 2024, Bangladesh Bank restructured several private bank boards, including Premier Bank’s, as part of financial reforms.
Iqbal, who founded Premier Bank in 1999 and served as chairman for nearly 26 years, resigned on Jan 12 citing health reasons.
His resignation was accepted two days later. His son Moin Iqbal, the then vice-chairman, also resigned without giving a reason. Both stepped down as directors as well.
Iqbal’s other son, Md Imran Iqbal, was then appointed chairman, allowing the family to retain influence over the board, according to banking insiders.
However, in late August, Bangladesh Bank dissolved the board citing “governance failures”, effectively removing the Iqbal family’s control.
The central bank appointed Arifur, formerly vice-chairman under Iqbal, as the new chairman.
After the political transition, the Anti-Corruption Commission (ACC) launched an inquiry into allegations of corruption against Iqbal.
Preliminary findings by the ACC allege that since 2011, Iqbal abused his power as chairman to accumulate vast assets, including Renaissance Dhaka Gulshan Hotel, Hilton Hotel and Resort at Gulshan-2, and Royal University of Dhaka.
He also served as a member of the Bangladesh Association of International Recruiting Agencies (BAIRA).
The ACC alleges he owns numerous companies and has amassed substantial wealth while holding multiple positions.
Bangladesh Bank, meanwhile, is preparing a detailed report on all financial transactions conducted by Iqbal during his tenure as Premier Bank chairman.
