BASIC Bank fires two officials

State-owned BASIC Bank has fired two of its officials for their alleged involvement in a financial crime at the bank’s Gulshan branch.

The officials are Shipar Ahmed and Zahid Hasan, who were deputy general manager and deputy manager, respectively, of the branch during 2011-2013, when scams worth hundreds of crores taka took place. Ahmed was also the in-charge of the branch.

The board of the bank took the decision at a meeting on December 11, 2014 and an office order was issued last week.

“Now the bank will file criminal cases against them,” a senior official of the bank said, asking not to be named.

BASIC, which was one of the best state banks till 2009, became news headlines in 2012 for financial scams. The central bank found that then chairman of the bank Sheikh Abdul Hye Bacchu (2009-2013) had granted loans worth around Tk 5,000 crore on forged and weak documents. Many of those have become bad loans now.