Ananda Shipyard refutes media reports

FE Report | Published: May 05, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Ananda Shipyard Ltd has refuted a recent report published in a section of newspapers that the company misappropriated Tk 13.00 billion.
"Bangladesh Bank did not find any irregularities in sanctioning loans to Ananda Shipyard," the company in a statement said.
The concerned representatives of the central bank visited Ananda Shipyard and as per their requirement necessary documents were submitted to the central bank. Besides, some clarifications from the concerned banks were sought and some important guidelines were issued.
Since the ship building industry cannot invest as other industries like RMG can do and the central bank on this ground in a letter issued on January 19, 2014 informed the finance ministry about the matter.
In the letter, the central bank said though there was some irregularities in disbursement and recovery of loans there will have no adverse impact on Ananda Shipyard. Also because the loan was not classified and so there is no problem in conducting business by the company.
Though Islami Bank Bangladesh Ltd was asked to provision the loans, there is no link in sanctioning fresh loans and so the central bank has no embargo over sanctioning loans to the company for completing construction of ships, the letter read.
"We have funded liabilities of Tk 9.70 billion with different banks and financial institutions, which the company collected from different banks by submitting proper documents and adequate security," the Ananda statement added.
Besides, the allegation that the company invested the credit fund in different other purposes is not true. The fact is that Ananda invested the fund in making ship as per the project, which anyone can see through visiting the shipyard site.
The loan worth Tk 443 crore from Islami Bank and Tk 157 crore from AB Bank was availed against construction and export of ten ships, whose contract value is $110.05 million or Tk 884 crore.
Out of ten ships, the construction of four is already completed and others are at different construction stages and for their construction most of the raw materials and machineries have been imported.