NRBC Bank PLC has sent a rejoinder in response to our story "Capital Flight Covered Up", published on March 22, 2024, and a follow-up rejoinder in response to our story titled "Gun in Boardroom", published on March 21, 2024.

On March 25, 2024, The Daily Star has already published in full a rejoinder, sent by NRBC Chairman Tamal Parvez, on "Gun in boardroom" along with our response. Today, we are again publishing the full text of the rejoinder, this time sent by Chairman of the bank's Executive Committee Adnan Imam, along with our reply.  

The rejoinder

I am writing to address the unfounded and defamatory allegations made against me, as recently circulated news report in your esteemed newspaper titled Gun in NRBC Boardroom and NRBC Branch covered Capital Flight. These allegations, suggesting that I have engaged in illegal and immoral activities, are baseless and without merit.

First and foremost, I categorically deny each and every claim made against me in this context. Not only are these accusations false, but they are also deliberately designed to tarnish my reputation and undermine my integrity both professionally and personally.

It is deeply disappointing and concerning that such slanderous statements have been made public without any regard for the truth and how my statement has been presented. These allegations have caused me significant distress and have potential implications for my professional standing and relationships.

Current chairman Mr. Tamal Pervez was accompanied by his body guard, as he was under threat (I refer to Mr. Tamal's own statement). We arrived in separate cars and I was coincidently in the same lift. (There is video proof to this) I can confirm that no gunman entered the board room and the minutes, along with probe report has been fabricated using photoshopped photos. Thus I strongly deny and condemn the writing that myself and Mr. Tamal entered the board room with a Gun man. There are police report confirming the same. The contents in the 48th Board minutes were simply fabricated which was later reversed in the Board minutes of the 56th meeting.

I strongly deny that I took 28 Cr of "disguised loans" under the name of NES, Pubali and Ornita. There is no evidence and I strongly protest the wrong statement that I owned any of these companies. I request The Daily Star to present such evidence. Bangladesh Bank investigated the allegations and found the allegations were false. It is astonishing that a newspaper like Daily Star presented the facts in such a way to implicate me into a crime, where I have no part. NES, Pubali and Ornita were normal customers of the bank got facilities based on their credentials and more importantly these loans have been paid by these customers in full. There are no loans that exist anymore. The Daily Star implicated me on a matter after 8 years where I have no involvement.

I strongly deny allegation that I forged/submitted bill for a branch through my company Adrita trading. I have no connection or link with this company and again I am requesting Daily Star to provide me evidence that I have connections with the company called Adrita. Again, the 48th minutes which seems to be the focus of this report is simply false. Daily Star brought the issues simply to defame me. 

The report says we were removed from the board. I can confirm we were NEVER been removed from the board. I can confirm that Farasath Ali and his associates illegally tried to remove me from the Board and illegally froze our shares. Bangladesh Bank investigated the matter and unearth the wrongdoing against me and other directors and in July 21, 2016 ordered the bank to include 3 of us Mr. Tamal, Mr. Rafiqul and myself in the normal board activities.

The so called "Nexus" of my interest with Pubali and NES are simply fabricated, made up and customised to frame me to which the court used as a reference only. I assume that The Daily Star was simply played in the hands of Farasath Ali and his companions in their cravings to derail the bank. The Daily Star misplaced Court's deliberation without verifying independently the authenticity of such document. Again, there is no such loan. I strongly stand by my statement that HC in its judgement, which was subsequently superseded by Appellate Division judgement, referred to the report prepared by the then Chairman and his associates to frame and defame me. I again protest Daily star stating that the HC found no patent or latent irregularity in the enquiry report. To confirm that enquiry report was done by the committee which Bangladesh Bank removed for gross proven irregularities after the judgment date (which was then superceded with another judgement) and these probe committee report was cancelled in the 56th meeting, thus how can we after 8 years rely on such report to make such statement when is totally false, proven and action taken. This is simply reflection of wrongfully defaming me.

As a Director and EC chairman, it's my duty to protect bank depositors. This branch had many NPL thus risking the depositors money. Ixora was a sick client of the bank. I strongly deny that I was a shareholder or I have any link with Ixora. I strongly protest the statement by the Daily Star that Ixora is my company. There is no logic or reason why I will be part of a sick company. Bank management works with non wilful default customers to see how a solution can be obtained to turn around such companies. [ZI4] Since the new management took over, we were making all effort to recover the loans and regularise the banks positon resulting in reducing NPL for the bank and most importantly protecting depositors interest. The Bank Board always supported such initiatives. Hence, wrongly implicating me as part of Ixora was a serious breach of editorial integrity and we never expect such reporting from The Daily Star.

Whilst these reports were disturbing and distressing, it does seriously demotivate Non-resident Bangladeshi like us who have worked hard abroad from a young age to carve out success in foreign lands, and carrying out investment activities in Bangladesh to create employment opportunities and bringing in FDI.

I have always conducted myself in accordance with the highest ethical standards, and I take my professional and personal reputation very seriously. The dissemination of these false claims not only affects me but also has wider implications for my family, colleagues, and those I work with.

I urge the Daily Star to retract these unfounded allegations immediately and remove such reports from its online forthwith. Failure to do so will leave me with no option but to consider all available legal remedies to protect my reputation and seek redress for the harm caused by these malicious falsehoods.

I am prepared to take the necessary steps to defend my reputation and ensure that the truth prevails. I remain open to resolving this matter amicably, should there be a willingness to retract the defamatory content and correct the public record.

Our response

The Daily Star did not use any photoshopped photos of the entry of the gunman as its news source, as claimed in the rejoinder. In addition to multiple documents in its possession, The Daily Star has verified the gunman's entry using a video from the close-circuit camera which this newspaper has published on its YouTube channel. The police report mentioned in the rejoinder categorically states that Tamal Parvez's gunman was armed, adding that Tamal himself was not carrying the gun and did not threaten the board by being armed.

Nowhere in our report did we mention that Tamal carried the gun and that he threatened anyone with the firearm.

The Daily Star has received a copy of the minutes of the 48th board meeting from the bank's legal team post-publication. The minutes are identical to the ones we already had in our possession which we used as one of the many sources for our reporting. Both copies of the minutes – the one provided by the bank's legal team and the one already in our possession – state the above, i.e., the presence of a gunman in board office on the day of the 40th board meeting of the bank. 

Although the rejoinder alleges that the said meeting minutes were fabricated, it does not provide any proof of that.

The Daily Star has not been in touch with former bank chairman Farasath Ali or "his companions" except to give them the right to response before publication. Therefore, the assumption in the rejoinder that this newspaper "was played" is the bank's own opinion.

The Daily Star has also received a copy of the High Court order from the bank's legal team post-publication, and again, it is identical to the one already in our possession. Since the content of both copies are the same, the copy provided by the bank's legal team after publication does not reveal any new information. The key focus of the HC petition was the unauthorised removal of three directors, including Adnan, from the board by the then management.

This newspaper has established Adnan Imam's links, not ownership, with Pubali Construction and NES Trading in the story with documentary evidence, and yet re-verified it using the 44th meeting minutes provided to The Daily Star post-publication by the bank. The minutes are the same as the ones in possession of this newspaper, and contains Imam's interview with the board. The minutes cited him as saying that the owner of NES Trading Shyan Zubair is Adnan Imam's brother-in-law and business partner and the owner of Pubali Construction is his employee "who respects Imam's father-in-law like his own".

Furthermore, the High Court Division's 41-page verdict was not "superseded" in its entirety by the Appellate Division, as the rejoinder claims. The Appellate Division only overturned a certain section of the judgement pertaining to the attachment of the shares of three directors, including Adnan, with the bank. This newspaper is aware that the Appellate Division gave this verdict after the board agreed to mutually resolve their differences, for "the betterment of the bank" as mentioned in the 56th meeting. 

 Our report details the paper trail showing Adnan Imam's link with Ixora and does not claim that he owns apparel company.

We stand by our report.