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Tk 19 crore given to a VIP customer after banking hrs Union Bank in reply to BB’s notice

24 September 2021

News Desk :
Three officials of Union Bank's Gulshan branch have been withdrawn as Bangladesh Bank found a Tk 19 crore mismatch in its vault.
A probe committee has also been formed to investigate the matter, Hasan Iqbal, deputy managing director of the bank, said while addressing a press conference at the bank's head office in Dhaka on Thursday afternoon.
Iqbal said the money was given to a VIP customer after ending the bank's transaction period.
"It is a violation of the bank's rules but it is not new. Such type of transaction is done based on the relationship between the customer and the bank," he added.
"We have withdrawn three officials of the branch and formed a committee to probe the matter. The account of Tk 19 crore has also been adjusted in presence of the inspection team of Bangladesh Bank," he added.
Earlier on Wednesday, the central bank sent a letter to the authorities concerned of Union Bank seeking its clarification in this regard. At the same time, the BB also asked the bank authorities to find out people responsible for such activities.
On Monday, Bangladesh Bank found a Tk 19 crore discrepancy in Union Bank's vault in Gulshan branch.
A BB inspection team found Tk 12 crore in the vault, though Tk 31 crore was supposed to be there.
Sirazul Islam, spokesman of the central bank, said they are looking into the matter as the authorities concerned of the branch have failed to give a satisfactory answer before the inspection team of the central bank.
As per rules, if there is discrepancy in the vault's money, it must be informed to the law enforcement agencies but it was not done in this case till Wednesday.
The BB authorities will take actions in this regard as per law, Sirazul Islam said.
There were reports of irregularities, corruption, embezzlement and robbery in many banks but in recent times, there have been no reports of discrepancy in the vault's money.
UNB adds: Bangladesh Bank has called for an explanation from Islamic Shariah-based Union Bank Limited on how an amount of Tk 19 crore went missing from the vault of its Gulshan branch.
"The central bank has asked the Union Bank authorities to give explanation about the incident within next 7 days", Sirazul Islam, spokesman of the Bangladesh Bank told reporters on Thursday.
Sirazul Islam said if the explanation is not satisfactory, the central bank will take action as per banking rules and regulation.

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