Bangladesh Financial Intelligence Unit on Thursday froze the bank accounts of NRB Commercial Bank chairman SM Parvez Tamal, its vice president Md Jafar Iqbal Howlader and former executive committee chairman Adnan Imam and their companies.
The anti-money laundering intelligence sent a letter to all banks to comply with the instruction immediately.
The individuals and their associates allegedly accumulated huge assets at home and abroad.
Adnan Imam is also a business partner of Parvez Tamal while Jafar Iqbal Howlader is vice-president and head of the financial administration department of the bank.
Adnan Imam is the chairman of listed company Genex Infosys PLC.
The BFIU letter stated that any bank accounts operated in the name of the individuals or their companies are to have transactions suspended under the Anti-Money Laundering Act for 30 days.
Banks and financial institutions have been instructed to submit information regarding their bank accounts (account opening forms, KYC, and transaction details), ongoing loan details (customer name, loan account number, current status, classification), suspicious import or export bills, and locker-related information to the BFIU within two business days.
There are numerous allegations of corruption, money laundering, and recruitment business against a number of board members and top management of NRB Commercial Bank, especially its chairman, Parvez Tamal and former executive committee chairman Adnan Imam.
Experts, however, argued that the inquiry into Tamal鈥檚 accounts and his assets could be influenced for his being the chairman of the bank.
The bank outsourced various services to the companies linked to NRBC Bank鈥檚 board members at higher rates and also provided them with loan facilities, violating banking rules, according to a Bangladesh Bank report.
The financial integrity and customer services departments of Bangladesh Bank prepared the report in 2022.
According to the 48th board meeting minutes held on December 7, 2016, chairman Tamal, directors Adnan Imam and Rafiqul Islam Mia, and sponsor AM Tushar Iqbal obtained Tk 64 crore in anonymous loans in the names of Pubali Construction, NES Trading, an NGO called the Voluntary Organisation for Social Development (VOSD), Lanta Services, and Ornita Agro.
The Anti-Corruption Commission in 2023 found that officials from NRBC Bank and Ixora Apparels Limited colluded to inflate a loan amount to Tk聽78.57 crore without sufficient collateral, aiming for unfair benefits. They failed to repay or recover the amount, leading to misappropriation.
Both entities are accused of not repatriating $7.05 lakh of export proceeds, potentially engaging in money laundering.
Adnan Imam allegedly accumulated huge assets in the United Kingdom.
Jafar Iqbal Howlader was allegedly involved in suspicious transactions of huge amounts of money using his credit cards and the overdraft account with NRBC.
BB investigation found that NRBC had given him undue increments and undue promotions.
