Staff Reporter: The central bank has fined the Sikder family Tk 55 lakh for concealing credit card information and laundering money. Bangladesh Bank has recently given a letter to National Bank giving time to explain within next 15 days.
The regulator also asked why the bank’s card department was shut down due to various frauds and the foreign currency accounts of the bank’s directors Ron Haque Sikder and Rick Haque Sikder were not closed.
Central Bank executive director and spokesman. Sirajul Islam said they were recently fined Tk 55 lakh for some credit card irregularities.
An inspection of Bangladesh Bank revealed various frauds in the international credit card of National Bank. The investigation revealed that the Sikder family had smuggled around Tk 117 crore through transactions in 11 international credit cards issued by the National Bank.
It is learned that according to the guidelines of the central bank, there is an opportunity to spend 12 thousand US dollars a year outside the country in the general travel quota. In violation of the directive, nine members of the Sikdar family and two officials of the Sikdar Group have spent an additional কোটি 138,30,529 against the card issued against them.
This expenditure is money laundering outside the permitted limits. The bank has kept the details of this expenditure from 2016 to 2021 in the Credit Information Bureau (CIB) of Bangladesh Bank. The central bank has imposed a fine of Tk 5 lakh on each card as punishment for this crime.
Ron Haque Sikder and Rick Haque Sikder, sons of the late Zainul Haque Sikder and directors of the National Bank, are among the members of the Sikder family who have spent more than the limit on credit cards. Zainul Haque also has three children Dipu Haque Sikder, Mamtazul Haque and Lisa Fatema Haque.
Rick Haque Sikder’s two sons John Haque Sikder and Shon Haque Sikder, Nasima Haque Sikder’s daughter Monica Sikder Khan and Jeffrey Sikder are on the list. Besides, Syed Kamrul Islam, Chief Operating Officer (COO) of Sikdar Group and Varvara Zarina, Group Officer also spent more than the limit.
In response to the inspection last November, the bank said that on December 2, 2019, at the verbal request of the then chairman of the bank, the late Zainul Haque Sikder, and on the recommendation of the higher management, the facility of spending dollars outside the travel quota was granted.
Source: Daily StockBangladesh by www.dailystockbangladesh.com.
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