Tk 1 million fine for Farmers Bank

By | January 28, 2016

The Supreme Court (SC) has said Farmers Bank can move the Bangladesh Bank for a review of the decision to slap a Tk 1 million fine for concealing loan disbursement information.

The Appellate Division led by Chief Justice Surendra Kumar Sinha passed the order after disposing the writ petition filed in this regard on Thursday.

According to the laws, the bank now has 14 days to file a review plea with the central bank.

Thursday’s order by the top court means it is the central bank, which will now decide whether the Farmer`s bank has to pay the fine.

Farmers Bank was launched just two and a half years ago with former home minister and Awami League MP Mahiuddin Khan Alamgir as the main sponsor.

Alamgir is the chairman of the bank`s 21-member board of directors, having replaced his wife.

The central bank has brought it under strict surveillance and appointed an observer following irregularities relating to Tk 4 billion.