SCB rejoinder

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FE Team | Published: January 06, 2025 23:08:21

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The Standard Chartered Bank (SCB) in a rejoinder issued on Monday contradicted the content of a news item, published in the January 06 issue of The Financial Express, under the headline, 'DIRD Composite served show-cause notice for failing to clear due wages'.
The FE report said the government on December 10 last year arranged a Tk 130 million loan for the company from the Standard Chartered Bank's Gulshan branch to clear employees' dues.
The Standard Chartered categorically said that no such loan had been extended to DIRD Composite. "The information presented in the article is factually incorrect and misrepresents the bank's involvement," the rejoinder said.
Actually, the government, not the Standard Chartered, provided the loan to the factory.
The inadvertent mistake is regretted.