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The Anti-Corruption Commission (ACC) has launched an investigation into former Bangladesh Bank governor Atiur Rahman over a series of allegations including abuse of power, irregularities, and facilitating large-scale loan fraud in the country’s banking sector during his tenure.
The investigation spans alleged actions across the last 15 years that ACC officials say contributed to the “deterioration” of the banking sector.
The national anti-graft agency has sought detailed records covering the terms of Atiur and several other top officials from Bangladesh Bank.
ACC spokesperson Akhtarul Islam confirmed the inquiry but declined to provide further details, reports bdnews24.com.
A senior ACC official said the allegations against Atiur include issuing policies favouring loan defaulters, enabling systemic fraud such as the Hallmark and S Alam Group scandals, and failing to act against widespread loan embezzlement across banks.
The 2016 Bangladesh Bank reserve heist also falls within the scope of the probe.
As part of the investigation, the ACC has formally asked Bangladesh Bank to provide documents covering the tenure of former governors Abdur Rouf Talukder and Fazle Kabir, and former deputy governors SK Sur Chowdhury, SM Moniruzzaman, Abu Hena Mohammad Razi Hasan, and Abu Farah Md Nasser.
Records have also been sought on former Bangladesh Financial Intelligence Unit (BFIU) heads Masud Biswas and Kazi Sayedur Rahman.
This move comes months after the ACC, on Feb 20, prosecuted Atiur over the AnonTex loan scam involving nearly Tk 3 billion embezzled from Janata Bank.
Former Janata Bank chairman Abul Barkat was also named in the case.
Atiur was appointed the 10th governor of Bangladesh Bank in May 2009, just five months after the Awami League government returned to power.
He was reappointed for a second term, set to end in August 2016.
He, however, resigned in March that year amid growing criticism over the reserve theft.
The ACC has formed a three-strong team to conduct the new investigation, headed by Deputy Director Md Monirul Islam.
The team includes Deputy Director Ranjit Kumar Karmakar and Assistant Director Md Yasin Mollah.
According to ACC officials, the following documents and information have been requested from Bangladesh Bank:
>> Certified copies of policies related to the rescheduling of defaulted loans before 2009, and all subsequent policies issued after 2009.
>>Lists of companies and individuals who benefited from the post-2009 rescheduling policies, including Beximco, Ratanpur, Keya, Jamuna, Thermex, Sikder, BBS, Abdul Monem, AnonTex and others. The ACC has asked for beneficiary names, aliases, associated financial institutions, branch names, account holders, proprietors, addresses, loan amounts and current status of the loans.
>> A complete list of defaulted loans from 2009 to 2024.
>> Certified copies of all inspection-related policy documents issued after 2009, including note sheets and internal communications.
>> Internal investigation reports and related documents concerning the Hallmark scam and Basic Bank fraud, along with official actions taken by the central bank.
>> All documents related to the approval of nine banks during Atiur’s tenure—Meghna, Midland, Modhumoti, NRB, NRB Commercial, NRB Global, South Bangla Agriculture, Union, and Farmers Bank—including note sheets and official notifications.
>> Note sheets, policy documents and circulars linked to the 2015 loan restructuring policy, which was allegedly influenced by a letter from Salman F Rahman, then advisor to the prime minister and vice-chairman of Beximco Group.
>> Certified copies of all documents related to the reserve theft, including Bangladesh Bank’s internal investigation findings and updates on the matter.
>> Certified copies of note sheets and circulars concerning ownership or share transactions of Islami Bank and Social Islami Bank, including any internal investigations.
>> All credit policy circulars issued during the tenure of former governor Kabir, including documents on the 9 percent interest rate policy and the loan regularisation mechanism for defaulters.
>> Information on any financial institutions or banks shut down during Kabir’s tenure, including relevant policies.
>> Information on anonymous or fraudulent loans sanctioned during the tenure of former governor Rouf, including records on dollar disbursement from reserves to businesses and any related internal investigations.
>> Note sheets and policy documents related to bank approvals during former deputy governor SK Sur’s term, including NRBC, Union, South Bangla Agriculture and Commerce, Midland, Meghna and NRB banks.
>>Documentation on banking inspection practices during the tenures of former deputy governors Moniruzzaman and Abu Hena.
>>Information from the BFIU during Sayedur’s tenure on volatility in the dollar market
>>Note sheets, policy circulars and notifications on credit policies issued under deputy governor Md Nasser