No info about money laundering by Trust Bank: BB
October 28, 2008 00:00:00
FE Report
The central bank has no information about money laundering by the Trust Bank Limited, a deputy governor of the central bank said Monday.
"The bank has lost money few years back in foreign exchange deals," Bangladesh Bank (BB) Deputy Governor Ziaul Hassan Siddiqui told reporters replying to a query.
In 2002 and 2003, the Trust Bank lost about Tk 224 million along with at least three other local commercial banks because of 'cross currency deal' in the inter-bank foreign exchange market.
The issue of financial loss of the bank came into the light further after former Energy Adviser Mahmudur Rahman brought allegations against former Chairman of the Trust Bank and the incumbent Anti-Corruption Commission (ACC) Chief Hasan Mashhud Chowdhury for money-laundering through misappropriation of Tk 229 million from the bank.
On Sunday, Mr. Chowdhury brushed aside the allegation of money-laundering saying those were not true at all.
The ACC chief, however, admitted that the bank, of which he was the chairman in 2002, racked up losses of more than Tk 200 million due to foreign exchange dealings.