Basic Bank

Former Ctg chamber president, his wife ordered to clear Tk 184 crore default loans

The duo has so far defaulted on loans of Tk 904 crore given by different banks

Anti-corruption day: Cases filed, but no progress in probes

Several big loan scams in the banking and financial sectors came to the fore in the last decade and the Anti-Corruption Commission (ACC) has done its job by filing cases. But, no progress is apparent.

BASIC Bank loan scams: ‘A drama is all we’re watching’

The High Court yesterday expressed disappointment at the embezzlement of large amounts of money from the state-run Basic Bank and the Anti-Corruption Commission’s failure to press charges in any of the 56 cases filed over the bank’s loan scams in the last seven years.

HC stays BASIC Bank circular on reducing employees’ salary structure

The High Court stays for four weeks the effectiveness of a circular issued by the BASIC Bank authorities on reducing the salary structure of its employees.

BASIC Bank staff confine board members for 4 hrs

A section of employees of BASIC Bank confines board members of the bank for nearly four hours demanding reinstatement of the previous salary structure.

Basic Bank employees stage demo

Basic Bank employees stage demonstration at its head office in Dhaka’s Motijheel area protesting decrease of their salaries.

Plea seeks enquiry over BASIC Bank recruitment of 1,173 employees

An application is filed with the High Court seeking its order on the government to conduct an enquiry into an alleged corruption in appointments of 1,173 employees in BASIC Bank during the chairmanship of Sheikh Abdul Hye Bachchu.

HC asks Mozaffar to surrender to court for embezzling Tk 141cr from BASIC Bank

The High Court cancels the bail of businessman Syed Mozaffar Hossain in a corruption case filed for misappropriating Tk 141 core from BASIC Bank and ordered him to surrender to the trial court immediately.

Tk 4,500cr ‘vanishes’

Nobody “knows” where it is. The 4,500 crore taka laundered from BASIC bank between 2009 and 2013 has apparently just disappeared.

March 18, 2019
March 18, 2019

BASIC drowning in default loans

BASIC Bank continues to be overwhelmed with default loans despite going on a loan rescheduling spree, with the scam-hit bank logging in operating loss of Tk 118 crore last year.

June 19, 2018
June 19, 2018

BASIC Bank scam: ACC to file plea challenging ex-DMD's bail

The Anti-Corruption Commission (ACC) will file six appeals with the Supreme Court challenging the High Court verdict that granted bail to Fazlus Sobhan, former deputy managing director of BASIC Bank, in six loan-scam cases.

June 4, 2018
June 4, 2018

BASIC 'plunderers' go happy

In the four years between 2009 and 2013, Tk 4,500 crore was swindled out of BASIC, once a healthy public bank. But what followed was more shocking than the country's biggest loan scam itself.

May 31, 2018
May 31, 2018

Ex-BASIC Bank brass Fazlus Sobhan gets bail

The High Court grants permanent bail to Fazlus Sobhan, former deputy managing director of Basic Bank, in six cases involving loan scam of Tk 4,500 crore.

January 11, 2018
January 11, 2018

BASIC Bank: JP MP, husband sued over Tk 275cr scam

Jatiya Party lawmaker Mahjabeen Morshed and her husband have been sued for Tk 275-crore loan scam at the state-run BASIC Bank.

January 10, 2018
January 10, 2018

JP MP sued for misappropriating Tk 275cr loan of Basic Bank

Anti-Corruption Commission (ACC) sues Jatiya Party lawmaker Mahjabeen Morshed, her husband and five others for allegedly misappropriating around Tk 275crore of Basic Bank.

December 6, 2017
December 6, 2017

BASIC Bank Loan Scam: Transfer of Tk 20cr raises questions

Around Tk 20 crore was transferred to bank accounts of two firms, owned by Sheikh Abdul Hye Bacchu's younger brother, from several companies that got loans from BASIC Bank through scams when Bacchu was its chairman.

December 4, 2017
December 4, 2017

ACC quizzes ex-BASIC Bank chairman Bacchu over scam cases

Former BASIC Bank chairman Sheikh Abdul Hye Bacchu has been interrogated by the Anti-Corruption Commission (ACC) in scam cases.

November 9, 2017
November 9, 2017

HC on Basic Bank Scam: ACC lacks neutrality in probe

The High Court yesterday severely rebuked the Anti-Corruption Commission for foot dragging and showing weaknesses in investigating cases over the BASIC Bank loan scam. The commission lacks neutrality, transparency and competence in dealing with the cases, the court said, adding that the ACC is applying the “pick and choose” policy as "it keeps detaining and releasing people in connection with the cases".

November 8, 2017
November 8, 2017

Basic Bank scam: HC rebukes ACC

The High Court rebukes the Anti-Corruption Commission (ACC) for dillydallying and weakness of its investigation into the cases filed for Basic Bank loan scam.

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