PK Halder

The Bangladesh Bank yesterday withdrew its executive director Shah Alam from the responsibility of monitoring two departments for his alleged connection with scammer PK Halder.

Shah Alam was discharged of his duties at the central bank's Department of Financial Institutions and Markets (DFIM) and the Department of Banking Inspection 2.

The high-ups of the BB took the decision after Rashedul Haque, a close associate of PK Hader, confessed to a Dhaka court that two high officials of the BB had assisted them to conduct the financial scams.

SK Sur Chowdhury, a former deputy governor of the central bank, also assisted PK Halder, according to the confessional statement.

Approached by The Daily Star, Md Serajul Islam, spokesperson and an executive director of the central bank, said they had taken the decision following the confessional statement made by Rashedul.

As per the latest central bank decision, Shah Alam will supervise three departments instead of previous five.

Asked whether the central bank will form an investigation committee on the matter, Islam said they would consider it if required.

Shah Alam did not respond to a request for comment from The Daily Star.

Halder misappropriated loans of Tk 10,200 crore from the NBFIs and laundered the money to Canada, Singapore and India, using 30 organisations, owned by him and his associates.

The allegation of embezzlement against him surfaced after the Anti-Corruption Commission launched an enquiry into the wealth of illegal casino owners last year.

Halder, who is now in Canada, embezzled Tk 2,500 crore from International Leasing and Financial Services (ILFS), Tk 2,200 crore from FAS Finance, Tk 3,000 crore from Peoples' Leasing and Tk 2,500 crore from Reliance Finance.

Shah Alam supervised the non-bank financial institutions (NBFIs) since 2013 when he was appointed as general manager of the DFIM, which is responsible to make policies and monitor those.

He promoted as an executive director in 2017 and was appointed to supervise NBFIs once again.

In the confessional statement, Rashedul Haque, also a former managing director of ILFS, said Shah Alam was given Tk 2 lakh per month to hide the scam.

Reliance Finance and ILFS gave Tk 5 lakh to Tk 7 lakh to the central bank's inspectors when they inspected the NBFIs, he said.

SK Sur Chowdhury had played a key-role among the central bank officials to help the scammers, he added.

Rashedul Haque also confessed that he disbursed crores of money including Tk 70.82 crore as loan to a non-existent company as per PK Halder's direction.

Dhaka Metropolitan Magistrate Baki Billah recorded confessional statement of Haque after Anti-Corruption Commission Deputy Director Gulshan Anwar Pradhan, also investigation officer of the case, brought him at his chamber.

After recording the statement, the magistrate ordered to send him to Dhaka Central Jail in Keraniganj, an official of the ACC told The Daily Star.

In his statement, Rashedul told the magistrate all the activities regarding submission of application for loan in the name of Anan Chemical Ltd and sanction of loan were done as per PK Halder's direction even though there were no existence of the company.

"I had disbursed crores of money as loan to a number of non-existing companies and a number of high-profile persons as per PK Halder's direction.

ACC official Gulshan interrogated Rashedul and Uzzal Kumar Nandi, former chairman of People's Leasing and Financial Services Limited, at the ACC office on January 25 and then they were kept at Ramna Police Station -- out of fear that they might leave the country -- for their alleged involvement in the scam.

The ACC also filed a case against 24 people including the two with its Integrated District Office-1 of Dhaka.

PK Halder is the prime accused in the case.

According to the prosecution, it was alleged that Uzzal, one of directors of the fake company "Anan Chemical Ltd", and Rashedul in collusion with PK Halder and others took Tk 70.82 crore as loan and laundered the money.

According to ACC sources, Rashedul and Uzzal were named in the case as close associates of PK Halder, who has laundered huge amount of money abroad with their help.