Standard Bank MD faces corruption charges, goes into hiding

A Dhaka Court has issued arrest warrant against the Managing Director of Standard Bank, Md. Habibur Rahman in a corruption case, filed earlier by the Anti Corruption Commission (ACC).

The warrant was issued responding to an allegation of defalcating Tk 11 crore, filed with ACC earlier while Habibur Rahman was serving Mercantile Bank as the AVP.
 
Standard Bank management said they have already sent Habibur Rahman on three months leave to sustain the banks reputation and trust of  valued customers.
Former president of FBCCI and Chairman of Standard Bank Kazi Akram Uddin Ahmed said they knew nothing about the corruption issues of Habibur Rahman before appointing him as the Managing Director, said a press release.

The bank will take necessary measures now to save the image of the bank and preserve the interest of a huge number of its customers, it said.

Kazi Akram Uddin Ahmed told that they have sought intervention and guidance of the central bank for removal or to determine what to do about the MD as he is an accused in an ACC case.

Banking sources said the financial irregularities, loan forgery and finally issuing arrest warrant against the MD has put the Standard Bank into an unwanted crisis of image. Bank customers are also expressing concern about safety and security of their deposits, although all the routine activities of the bank is going on as usually.

Sources said Habibur Rahman remains hiding to avert arrest, but he has been trying to join the bank again and certain quarter is trying to help him in this regard.

Although Habibur Rahman has claimed that he is victim of conspiracy and is trying to resolve the issue through legal process.

The case on misappropriating Tk 11 crore was filed by ACC with Motijheel Thana and then arrest warrants were issued against three bank officials including Habibur Rahman while he was serving in Mercantile Bank. Investigation Officer of the case, ACC Deputy Assistant Director Mohammad Monirul Islam said Senior Special Judge of Dhaka, Mohammad As-Shams Joglul Hossain issued the arrest warrant on April 28.

Earlier on January 18 this year charge sheet was submitted against a total of five officials.