The High Court on Tuesday has directed the authorities concerned to arrest two officials of AB Bank within 24 hours for not complying with the court order.  The two officials are AVP Aminul Islam of the bank’s head office and Satkhira branch manager. An HC bench comprising Justice Abu Taher Md Saifur Rahman and Justice AKM Zahirul Hoque passed the order. Gulshan police station in Dhaka and Satkhira sadar police station have been ordered to arrest the duo and produce them before the court on June 5. Lawyer Earul Islam stood for the writ petitioner while deputy attorney general Wais Al Haruni represented the state.   READ: HC grants anticipatory bail to four pro-BNP lawyers       According to the case statement, Safiur Rahman, owner of Safi Enterprise in Satkhira, had taken a loan from the AB Bank Satkhira branch.  After several months, he wanted a bank statement from the branch over the loan. But the bank refused him to give the statement. He later filed a writ petition with the High Court seeking its directive to provide the statement. 

The service tenure of Tarique Afzal, incumbent president and managing director of AB Bank limited, has been extended by five years. He took over as the President and Managing Director of AB Bank on July 7, 2019 and his reappointment will be effective from July 8, 2022 after the end of his current service tenure, said a press release. During his tenure, AB bank has consistently increased its revenue, which has enabled the bank to double its operating profit in 2021, it said. Read: Police arrest AB Bank DMD in fraud case The bank's non-performing loans have been reduced and the quantity of assets has been enhanced through litigation against defaulters and taking appropriate action. It is mentioned that the ratio of income to expenditure of the bank has been reduced from 65 percent to 48 percent. Afzal started his banking career in London, United Kingdom in the late 1970's and later worked for TD Bank (Canada), ANZ Grind ledge, Standard Chartered Bank Bangladesh. He also held senior positions at Bank Al-Falah and BRAC Bank. Tarique Afzal holds an MBA in Finance and Marketing. He has also received two Certification Awards. He is the author of the book "Emergence of New Era" on SME and Women Entrepreneurship. Read ACC files case against 17 people including 16 AB bank officials

The High Court on Tuesday ordered the authorities concerned to arrest in a week the 15 accused, including two former managing directors (MDs) of AB Bank, in a case over embezzling Tk 176 crore from AB Bank. The court also directed the Anti-Corruption Commission (ACC), immigration police and the Inspector General of Police(IGP) to take step so that the accused cannot flee the country. Read: HC wants to know of steps against Panama and Paradise Papers money launderers The accused are: former MDs of AB Bank Moshiur Rahman Chowdhury and Shamim Ahmed Chowdhury, owner of Ershad Brothers Corporation Md Ershad Ali, the bank's former EVP and branch manager ABM Abdus Sattar, SVP and former relationship manager Anisur Rahman, AVP Md Ruhul Amin, EVP and Head of CRM Wasika Afrozi, VP and CRM Member Mufti Mustafizur Rahman, Former SEVP and Head of CRM Salma Akter, AVP and CRM Member Emarat Hossain Fakir, Former Principal Officer Touhidul Islam, SVP and CRM member Shamim A Morshed, VP and CRM member Khandaker Rashed Anwar, AVP and CRM member Sirajul Islam, former VP and credit committee member Mahfuz-ul Islam. The HC bench of Justice Nazrul Islam Talukder and Justice AKM Zahirul Haque passed the order while hearing  on the bail pleas  of two accused in the case-Abdur Rahim, former AVP and relationship manager of the bank and Shahidul Islam, former VP of the bank, who are now behind bars. The court also issued a rule asking the authorities concerned to explain why they should not be granted bail in the case. Khurshid Alam Khan appeared for the ACC while Deputy Attorney General AKM Amin Uddin Manik for the state. Khurshid Alam Khan said that during the hearing of the bail pleas of Abdur Rahim and Shahidul Islam, the court wanted to know where are the rest 15 accused while these two are in jail. Read: HC orderss 24/7 surveillance on activities of Rajarbagh Pir, syndicate Later, the court then ordered the arrest of  the 15 fugitives, including two former MDs, a businessman and bank officials, in a week. The arrest must be made in seven days of receiving the order. On June 9 this year, the ACC filed the case with its integrated office in Dhaka against the accused on charges of corruption and embezzlement of money. According to the case, these officials worked together to prepare work orders by abusing their power for fraudulent purposes. They withdrew TK176 crore using these fake documents and by giving seven illegal bank guarantees without the approval of the office and embezzled too.

Police on Tuesday arrested AB Bank Deputy Managing Director (DMD) Abdur Rahman in a fraud case from his Gulshan residence. Confirming the information, Dhaka Metropolitan Police (DMP) Assistant Commissioner Newton Das (Gulshan zone) said,” He was nabbed as an arrest warrant was issued against him by the court in a fraud case.” Read: Almost 14,000 people arrested in DMP’s special anti-narcotics drive in 8 months However, the police officer did not give any details on the charges. He will be produced before the court very soon, the officer added. Earlier on Sunday, another two AB Bank officials – AB Bank Assistant Vice President Abdur Rahim and Vice President Shahidul Islam - were arrested for allegedly embezzling Tk 1.76 billion through fake work orders and illegal bank guarantees. Read:Dhamaka COO arrested for 'fraud' A court scrapped their petitions for bail and sent them to prison. On Jun 8, the Anti-Corruption Commission filed a case against 17 people, including two former AB Bank Managing Directors – Mashiur Rahman Chowdhury and Shameem Ahmed Chowdhury on corruption charges.

Anti-Corruption Commision (ACC) on Tuesday filed a case against a total of 17 people, including 16 officials of AB Bank, on corruption charges and embezzlement of money. Deputy Director ( Public Relation) of ACC Muhammad Arif Sadeq told UNB that from 2014 to 2017, these officials worked together to prepare work orders by abusing their power for fraudulent purposes. Also read: ACC seeks wealth information of Rajuk engineer, 4 others They withdrew TK176 crore using these fake documents and by giving seven illegal bank guarantees without the approval of the office was embezzled too. A case has been registered against 17 people, including 16 officials of AB Bank for committing a punishable offense under Section 47 (48/47/471/09/109) and Section 5 (2) of the Prevention of Corruption Act, 1948 by embezzling. Also read: ACC sues Rajuk employee The accused in the case are-  proprietor of Ershad Brothers  Corporation Ershad Ali,  former Exrcutive Vice- President (EVP) and branch manager (now retired) of AB Bank A. B. M Abdus Sattar,  former AVP and Relationship Manager Abdur Rahim, SVP and former Relationship Manager Anisur Rahman,   AVP Ruhul Amin and Shahidul Islam, EVP and Head of CRM at head office Wasika Afrazi , former VP Mufti Mustafizur Rahman, former SE VP and head of CRM (now retired) Salma Akhter   AVP OCRM Member of  Head Office Mohammad Emarat Hassan Fakir,  former Principal Officer, AB Bank (currently  Principal Officer of Mutual Trust Bank)  Touhidul Islam , member of SVP  and CRM of AB Bank Shamim-e-Mershed, member of VP  and CRM of the same bank at head Office Khandaker Rashed Anowar,   member of AVP and CRM Sirajul Islam,  VP and Member of Credit Committee of AB Bank  Mohammad Mahfuz-ul-Islam, , former DMD and MD (now retired) and Head of Credit Committee of AB Bank Ltd ( Head Office)  Moshiur Rahman Chowdhury,  former MD (now retired) AB Bank  Shamim Ahmed Chowdhury.

The Anti- Corruption Commission (ACC) on Tuesday filed a case against chairman of Invent Clothing Limited and his wife for embezzling around 12 crore from AB Bank.