HC scraps directive for probing alleged loan scams in 3 banks

The High Court today discharged its suo moto (voluntary) rule that had directed the authorities concerned to probe the alleged loan scams in Islami Bank, Social Islami Bank and First Security Islami Bank.
The court, however, said the Anti-Corruption Commission (ACC), Bangladesh Bank, Bangladesh Financial Intelligence Unit (BFIU) and Criminal Investigation Department (CID) of Police can take legal steps on the matter, if they think necessary.
The bench of Justice Md Nazrul Islam Talukder and Justice Kazi Ebadoth Hossain delivered the verdict in light with a judgement of the Supreme Court's Appellate Division that on February 5 discharged the HC's suo moto rule for conducting an enquiry into S Alam Group's alleged wealth abroad.
S Alam Group's lawyer Ahsanul Karim told The Daily Star that there is no rule or directive for holding any enquiry into the allegations of loan scams in Islami Bank, Social Islami Bank and First Security Islami Bank following the HC verdict.
S Alam Group is the principal share holders of these three banks, he added.
Meanwhile, ACC's lawyer Khurshid Alam Khan told The Daily Star that the ACC, BB, BFIU and CID can conduct enquiry into the allegations of loan scams in the three banks if they want.
The ACC must conduct a probe into the allegations, he added.
On December 4, 2022, the bench led by Justice Md Nazrul Islam Talukder issued the suo moto rule asking the secretaries at the ministries of finance, law and home affairs, the Bangladesh Bank governor, the ACC chairman and heads of BFIU and the CID to explain why their inaction towards the persons involved in the loan scams should not be declared illegal and why they should not be directed to take action against them.
It also ordered the ACC, BB, BFIU and CID to conduct enquiry into the allegations of loan scams in the three banks to submit probe reports before it.
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