The scam was detected during probe by a three-member team led by SM Abul Kashem, Gnenegal Manager (Audit) at Bangladesh Bank (BB), Dhaka. Two other members of the team were joint directors Kazi Syedur Rahman and Sobhan Talukder at Barisal BB.

Sources at BB here said Abul Kashem has left for Dhaka and the probe report will be submitted to authorities concerned soon.

BB Barisal General Manager Chowdhury Mohidul Huq when contacted said process has been started for action against the accused person-- Abul Kalam Azad, Assistant Manager at Savings Bond Section at Barisal BB.

One Jainul Abedin had purchased three savings bonds (Sanchaya Patra no.-3-Ga-014049-50 and 3-Ka-023370/Reg.no. -288/2000) worth Tk 11 lakh on September 7, 2000.

He took loan from Sonali Bank's Corporate Branch in Barisal against the bonds. Sonali Bank realised Tk 12 lakh from Bangladesh Bank (BB) on September 7 this year against these bonds.

But Assistant Manager Abul Kalam Azad paid Sonali Bank through voucher and did not 'cancel' the bonds and mark 'paid' seal on those, the sources said.

He again cashed the bonds from BB on October 20 this year through forgery and with that money purchased three more savings bonds (no.-3-Ga-051584-85 and 3-Kha-172818, Reg.no. -954/03) in the fake name and address of Alauddin Ahmed, Tumchar, Selimpur, Barisal.

The Assistant Manager personally filled in the newly purchased bonds and made "marks and corrections" on the previous bonds.

Another official at BB's savings bond section detected the 'irregularities' in the transactions and 'corrections' made on bond registers. The official brought the matter to the noticed of General Manager Chowdhury Mohidul Huq.

Pending investigation, the GM transferred Azad to the treasury and audit section. The official who detected the irregularities was also transferred to aother section.

The GM brought the matter to higher authorities. When the irregularity were detected, the probe team asked Azad to refund Tk 11 lakh he drew from BB by cashing through forgery the bonds against which Sonali Bank realised its loans.

The sources said Azad has refunded the money.