Bankers involved in Beximco loan scandal will face legal steps as well, says Advisor Sakhawat

The advisor questions why a bank would give Tk 400 billion loan to Beximco concerns without thoroughly investigating

Labour and Employment Advisor M Sakhawat Hussain has said bankers who loaned money to Beximco by overstepping the rules will also be “served justice”.

Everyone involved in lending the money, including the Bangladesh Bank or Securities Exchange Commission, will face lawsuits and investigation, Sakhawat, a retired brigadier general, said at the Secretariat on Thursday.

“Numerous apparel factories are opening up rapidly taking loans from banks. The banks never verified whether [the factories] export” he said.

“A bank is giving loans of tens of billions of taka. Shouldn’t it look at what [borrowers] have or don’t? Was no one from Bangladesh Bank there? Where’re the bankers?” he questioned.

According to media reports, the bank owes nearly Tk 400 billion to both popular and unpopular Beximco concerns.

“We strictly said in [Wednesday’s] meeting that looking only at Beximco won’t do. Who gave that money? They’re so afraid. They gave away Tk 400 billion by just being asked?” he added.

“The finance ministry will investigate. They will be judged and punished under the law, be it bank officers or employees.”

“There’s no reason to think that people [involved] went abroad. Those who did may face trials upon returning to the country. Otherwise, they’ll become non grata overseas.”

“If needed we’ll request the home ministry to cancel their passports.”