HC advices writ filing as Islami Bank lending reports brought to notice

The High Court (HC) on Wednesday asked a lawyer to file a writ petition regarding Islami Bank's alleged lending to ghost companies, as he brought media reports in this regard to the court's notice seeking directives.

The lawyer – Mohammad Shishir Manir – told The Business Standard on Wednesday evening that they were preparing the writ, and would inform journalists after the filing. 

On 24 November, a Bangla national daily published a report suggesting about Tk7,000 lending by Islami Bank to shell corporations. The report said that the loans were taken against eight firms this year.

The ghost companies availed another Tk2,320 crore loans from Social Islami Bank (SIBL) and First Security Islami Bank similarly. According to the report, the firms altogether owe around Tk9,500 crores to these three banks.

Subsequently, The Business Standard published another report that suggested three more fake companies borrowed Tk900 crore each from Islami Bank just the next month of company registration.  

As the reported irregularities grabbed the headlines, many Islami Bank clients became worried about their deposits with the reputed private bank. 

On Wednesday, lawyer Shishir Manir presented those news reports before the HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat. As he sought HC directives, the court advised him to file a writ petition.        

During the time, Deputy Attorney General AKM Amin Uddin Manik represented the state and lawyer Md Khurshid Alam Khan appeared for the Anti-Corruption Commission (ACC).