A delegation of legal professionals under the banner of "Voice of Lawyers Bangladesh" submitted a memorandum to the Governor of Bangladesh Bank on Tuesday, demanding exemplary punishment for those involved in bank looting, corruption, and money laundering.
The lawyers highlighted the dire state of the banking sector, particularly the liquidity crisis in Islamic banks, which has left thousands of depositors unable to withdraw their own savings.
Speaking at a gathering in front of the Bangladesh Bank headquarters, Advocate Mohammad Delwar Hossain, a Supreme Court lawyer and coordinator of the organization, painted a grim picture of the current crisis.
"The banking sector is in an extreme state of emergency. Customers are being turned away from branches; some are allowed to withdraw only Tk 2,000 to Tk 5,000, while many banks are unable to provide any cash at all," Hossain said.
He cited a harrowing example of a cancer patient who was reportedly unable to withdraw Tk 1.5 crore for treatment, despite having the funds in his account. "The bank asked him to take only Tk 5,000. This is a tragic failure of our financial system," he added.
The organization’s Chief Coordinator, Advocate Ashrafuzzaman, alleged that a specific group—leveraging political influence and intelligence agencies—forcefully took over the Board of Directors of Islami Bank on January 5, 2017.
He claimed that approximately Tk 2.40 lakh crore has been laundered to nine different countries by this organized syndicate. "This stolen wealth must be repatriated immediately and returned to the legitimate depositors," he demanded.
The lawyers also urged the central bank to cancel the "illegal appointments" of thousands of officers and employees who were allegedly recruited through political channels to facilitate these financial irregularities.
The legal professionals expressed strong reservations about the recently enacted "Bank Resolution Act." They echoed growing industry concerns that certain clauses in the law could serve as a "rehabilitation mechanism" for former directors and looters involved in past scams.
"We demand the immediate repeal of controversial sections of this act that allow corrupt individuals to regain a foothold in the banking sector," the memorandum stated.
The speakers noted that Islami Bank was once a pillar of the country's economy, but a vested local and international quarter has worked to make the Islamic banking system dysfunctional. They called for a restoration of the sector’s integrity to ensure investment and deposit activities can return to normalcy.
While the lawyers were unable to secure a direct audience with the Governor despite a prior application, the memorandum was officially received by the Governor's office. The "Voice of Lawyers" warned that if visible action is not taken against the identified "looters and launderers," they would continue to advocate for the rights of depositors through legal channels.