The entire nation was caught on surprise knowing the facts that the man who is behind the anti corruption drives and power source of Caretaker Government which dragged so many politicians, businessmen, ordinary citizens even the teachers behind the bar is him self is a law breaker and as much corrupt as many other languishing behind the bar.
Justice demands, Lt. Gen. Moeen U. Ahmed be dismiss from his employment as Chairman of Trust Bank immediately pending thorough investigation into the matter of grave concern.
Central Bank (Bangladesh Bank) or Finance ministry should form an independent judiciary committee to uncover all injustice and violation of central bank regulation by Trust Bank and its board of directors and Chairman. Investigation should not confine only on Mr. Moeen’s financial matter but explore whether appointment of Chairman Lt. Gen. Moeen U Ahmed and subsequent re-appointment of his brother Iqbal U Ahmed as a member of the board of directors in 2006 by General Moeen and other violated Bangladesh Central Bank's regulation that no two members of a family can be in the board of directors of the same bank.
It is evident from available information that Bangladesh
ACC should investigate Gen. Moeen U Ahmed’s alleged financial irregularities and require him to submit his wealth statement immediately.
If initial investigation finds alleged financial transgression pretext exist then he should be asked or forced to step-down from his position as Chief of Staff of Bangladesh Army.
This is very distressing, disquieting that the people who lives in the helm of power and talks tall fall like a rock. In all national daily and electronic media news headline carried today was about former caretaker government adviser Justice Fazlul Huq who is under ACC investigation and joint forces led by Bangladesh
Unfortunately these two shameful news came almost same time and created a havocked among common people which trusted on their words as truth teller.
Leaving skeleton of corruption on their own yard they appeared as savior. Today I truly understand what Gen. Moeen said about the nation that he compared as train that slipped out from its track and complimented CG who appeared to put the racked train to its track.
Now it appears he was one of the drivers, which drove the train and racked it out of greed. Can the nation get justice from the government who claims no one is above the law? If justice is not served quickly then people will understand it was just a word loft in the air for chip fame.
However, at this point these are allegation against our first four star general of the history of Bangladesh
Moment in time has come for Dr. Fakhruddin’s government to provide evidence of their word into action. Fire broke out into the house of the Caretaker government people wants to know who will drive the fire truck and how quickly fire is put off.
· Living in a glass house don’t through stone on others
· If you spit above it gone comedown to none but you
· Give advice to others only when you can comply
Sincerely
Shamim Chowdhury
Evidence of financial Irregularity:
Allegation: General Moeen, according to Trustbank's filings, has only 100 shares with Trust Bank and would thus be eligible for a loan not exceeding Tk 500 ($7) as per Bangladesh Central Bank regulations - which far exceeds the loan amount he admitted in the interview with VOA and ATN Bangla.
To understand some financial irregularities caught on Trust Bank loan awarded to its Chairperson Lt. Gen. Moeen U Ahmed please read below. If you have doubt about the document provided below, please use the link to read the regulation from Bangladesh Bank website link below.
RESTRICTION ON LENDING TO DIRECTORS OF PRIVATE BANKS[9]
| The following instructions on the above subject are issued rescinding the previous one[10] in this regard with the authority vested under Section 45 of Bank Companies Act, 1991 in public interest and for the interest of the depositors with immediate effect: - 1. Any loan facility or guarantee or security provided to a Director of a bank or to his relatives must be sanctioned by the Board of Directors of the bank and approved in the general meeting and has to be specifically mentioned in the Balance sheet of the bank. However the total amount of the loan facilities extendable to a Director or to his relatives should not exceed 50% of the paid-up value of the shares of that bank held in Director's own name. 2. If the total amount of loan facilities already extended to a Director or to his relatives exceeds 50% of the paid-up value of the shares of the bank held in Director's own name, the amount in excess should be repaid within the time approved by Bangladesh Bank. Under no circumstances, renewal or extension of time of the loan facilities in excess of that 50% can be made. 3. No such loan wherein the borrower is exempted fully or partially from bearing the loss including Mudaraba or Musharaka systems of loan can be extended to any Director or any relatives of him. 4. Subject to compliance of the conditions mentioned in paragraph No.1 above, loan facilities in excess of Tk.50 lacs (including all direct or indirect loan facilities such as bank loan, all types of contingent liabilities like Letter of Credit and performance bond, bid bond or guarantee etc.) in favor of any Director or his relatives or proprietorship or partnership firms and private or public limited companies wherein those persons have interests, can be extended obtaining no-objection from Bangladesh Bank. Besides, subject to the limit as outlined above, if the amount of direct loans like Cash Credit, Overdraft, LIM, Pre-shipment Credit, LTR etc. is more than Tk.10 lacs, no-objection from Bangladesh Bank is to be obtained. |
Evidence of employment Irregularity:
Allegation: Mr. Iqbal U Ahmed was re-appointed as a member of the board of directors in 2006 by General Moeen and others apparently in violation of Bangladesh Central Bank's regulation that no two members of a family can be in the board of directors of the same bank.
To understand some Trust Bank employment irregularities found with employing Chairperson Lt. Gen. Moeen U Ahmed and his brother Iqbal U. Ahmed please read below. If you have doubt about the document provided below, please use the link to read the regulation from Bangladesh Bank website link below.
| |
| Responsibilities of running the affairs of a bank-company, like other companies, are entrusted to its board of directors. The responsibilities of the board of directors of a bank-company are more important than those of other companies; because in case of a bank-company it is essential to earn and maintain confidence of the depositors as its business is mainly run with the depositors' money. The board of directors shall also have to strive to protect interests of its depositors as well as of the shareholders. It is imperative to constitute the board of directors with competent and professionally skilled persons and limit the number of directors with a view to formulating policy-guidelines and supervising business activities of the bank efficiently as well as ensuring good and corporate governance in the bank management. Bangladesh Bank deems it necessary to issue directives for compliance of the bank-company regarding constitution of the board of directors and fit and proper test for appointment of directors in the interest of depositors and for securing proper management of the bank-companies. Therefore, in exercise of the powers conferred by section 45(1) of the Bank Companies Act, 1991, the following restrictions have been imposed regarding constitution of the board of directors and fit and proper test criteria for consideration and compliance of the appointing authority (viz.- general meeting, board of directors etc.) of the private banks regarding appointment or reappointment and filling up of casual vacancy of the offices of bank directors: 1. Constitution of the Board of Directors:- a) The board of directors of the bank-companies shall be constituted of maximum 13 (thirteen) directors. However, the directors of the banks, where the number of directors is more than this number, shall be allowed to complete their present tenure of office. b) This restriction shall apply to appointment/reappointment of the directors against retirement or filling casual vacancy subject to section 15 Ka Ka of the Bank Companies Act, 1991. -Not more than one member of a family will become director of a bank. For this purpose family members shall include spouse, parents, children, brothers and sisters of the director and other persons dependent on him/her. |
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