Separate letters confirmed that the government had approved the cancellation of the unexpired contractual terms of the managing directors of Agrani Bank, Md Anwarul Islam; BDBL, Md Jashim Uddin; and BASIC Bank, Md Kamruzzaman Khan

Abul Hashem has been serving the bank as chairman since 2020

The Anti-Corruption Commission yesterday pressed charges against former BASIC Bank chairman Sheikh Abdul Hye Bacchu, his wife Shirin Aktar and six others over money laundering.

BASIC Bank is experiencing a deep liquidity crunch as depositors have been withdrawing money for weeks following news that the state-run lender is going to be acquired by a private commercial bank.

Law enforcers have no idea where former BASIC Bank chairman Sheikh Abdul Hye Bacchu is even though a Dhaka court has so far issued 52 warrants for him in as many cases since February 28.

A recent rush to withdraw money from the BASIC Bank and National Bank is worsening the situation the troubled institutions are facing.

As a state-run bank, BASIC Bank's officers and employees enjoy and job security alongside various employee benefits -- including salaries, provident fund facilities, gratuity, retirement allowance -- which may differ from those offered at City Bank.

They submitted a memorandum to Bangladesh Bank governor

State-owned and trouble-ridden BASIC Bank is expected to merge with City Bank — a development that comes less than a week after the government decided in principle to merge four state banks

The duo has so far defaulted on loans of Tk 904 crore given by different banks

Several big loan scams in the banking and financial sectors came to the fore in the last decade and the Anti-Corruption Commission (ACC) has done its job by filing cases. But, no progress is apparent.

The High Court yesterday expressed disappointment at the embezzlement of large amounts of money from the state-run Basic Bank and the Anti-Corruption Commission’s failure to press charges in any of the 56 cases filed over the bank’s loan scams in the last seven years.

The High Court stays for four weeks the effectiveness of a circular issued by the BASIC Bank authorities on reducing the salary structure of its employees.

A section of employees of BASIC Bank confines board members of the bank for nearly four hours demanding reinstatement of the previous salary structure.

Basic Bank employees stage demonstration at its head office in Dhaka’s Motijheel area protesting decrease of their salaries.

An application is filed with the High Court seeking its order on the government to conduct an enquiry into an alleged corruption in appointments of 1,173 employees in BASIC Bank during the chairmanship of Sheikh Abdul Hye Bachchu.

The High Court cancels the bail of businessman Syed Mozaffar Hossain in a corruption case filed for misappropriating Tk 141 core from BASIC Bank and ordered him to surrender to the trial court immediately.

Nobody “knows” where it is. The 4,500 crore taka laundered from BASIC bank between 2009 and 2013 has apparently just disappeared.

The Anti-Corruption Commission (ACC) yesterday arrested two people in a case filed over misappropriation of about Tk 75.66 crore from the state-run BASIC Bank.

BASIC Bank continues to be overwhelmed with default loans despite going on a loan rescheduling spree, with the scam-hit bank logging in operating loss of Tk 118 crore last year.