by
Dhaka, May 26, 2025: Md. Delowar Hossain, previously sacked from NRBC Bank over allegations of involvement in a Tk 232 crore fraud and money laundering, has been serving as the manager of the principal branch of Bangladesh Commerce Bank for two years by concealing these facts.
A recent inspection by Bangladesh Bank uncovered this, declaring his appointment illegal and ordering its cancellation. The current board of Commerce Bank has decided to issue a show-cause notice to him, seeking an explanation as to why he should not be terminated.
Currently, Md. Delowar Hossain serves as a Senior Executive Vice President at the principal branch of Bangladesh Commerce Bank. Previously, he was the Executive Vice President and manager of NRBC Bank’s Uttara branch, where he was implicated in irregularities involving Tk 231.77 crore in loans and illicit benefits in import-export transactions. In 2022, an internal audit by NRBC Bank recommended his dismissal due to these allegations. Although he resigned on December 5, 2022, the bank rejected his resignation on December 18, citing his involvement in fraudulent activities and recommending legal action.
According to Bangladesh Bank’s inspection, Delowar joined Commerce Bank on March 27, 2023, without a clearance certificate from NRBC Bank, submitting an affidavit on a Tk 300 stamp claiming no pending administrative or disciplinary actions against him and no ongoing court cases. He also promised to submit a clearance certificate within six months, which he failed to do. On July 11, 2023, the Anti-Corruption Commission (ACC) filed a case against him and eight others for embezzling Tk 74.6 crore and money laundering involving $703,095 in sweater exports to the UK, a case that remains ongoing.
Further investigations revealed that during his tenure at NRBC Bank’s Uttara branch from 2017 to 2022, Delowar was involved in multiple irregularities. For instance, a client, Messrs. Beck Knit, exported goods worth $8,419 in April 2019 but failed to repatriate the funds within four months. Instead of reporting this to Bangladesh Bank as required, the branch concealed the expired export bill and provided Tk 4.86 crore in cash assistance to the client across 57 cases. Similarly, two other garment companies received nearly Tk 2 crore in assistance under similar circumstances.
At Commerce Bank, Delowar is accused of irregularly withdrawing Tk 11.94 crore between 2023 and June 2024. This includes Tk 32.5 lakh as agent commissions and Tk 78.5 lakh without vouchers, raising suspicions of money laundering. Other unverified withdrawals include Tk 2.4 crore on October 14, 2023, and Tk 18.11 lakh on November 7, 2023, which were later adjusted through the bank’s Khatunganj branch without proper justification.
In response, Delowar told Samakal that he provided loans based on directors’ recommendations and claimed his name was deliberately implicated. He stated that expenses at Commerce Bank were approved by the managing director and head office, and the Tk 78.5 lakh could not be adjusted due to Bangladesh Bank’s intervention. He denied personally benefiting from any transactions. On May 22, he was reassigned to the human resources department, and a show-cause notice was issued.
Efforts to contact Commerce Bank’s Chairman Md. Ataur Rahman and Managing Director Mohammad Mosharraf Hossain for comments were unsuccessful. A bank official noted that the circumstances under which the previous board appointed an accused individual remain উঞ্চলেয়ার
AI/MR
.webp)
.jpeg)
0 coment rios: