Rupali, Brac in dispute over Tk 3.97 crore
Rupali Bank is embroiled in a dispute with Brac Bank over non-settlement of Tk 3.97 crore withdrawn through the latter's ATM system.
Selim RF Hussain, CEO of Brac Bank, said money was withdrawn from seven to eight Rupali accounts in 2012 although there was no balance in those.
The incident baffled officials of both the banks.
Managing Director M Farid Uddin of Rupali Bank said they hired Bangladesh University of Engineering and Technology to probe the incident.
Brac shares 43 of its ATMs with Rupali under a deal signed between the two banks in 2011.
According to the agreement, Brac provides services to Rupali related to ATMs, ATM cards, card management system and feeding cash into machines.
Clients of the state-run Rupali Bank can withdraw money from Brac ATMs using cards. Rupali debits the money from its clients' accounts and pays back the withdrawn amount to Brac.
Since 2011, Rupali clients have withdrawn Tk 226 crore using Brac ATMs. Rupali has repaid the money to Brac, said a senior Rupali Bank official.
Farid Uddin said they couldn't adjust Tk 3.97 crore as the money was not debited from the clients' accounts.
Comments