Court sentenced 5 ex-officials of Oriental Bank 68 years in jail


Dhaka, Apr 17: A Dhaka court has sentenced five former officials of Oriental Bank, which has later been renamed as ICB Islamic Bank Limited, to 68 years in jail in four corruption cases filed by Anti-Corruption Commission.Judge Md Akhtaruzzaman of the Special Judge Court-5 passed the order on Tuesday.

The court also fined them Tk 4.2 crore each in the cases.

The convicts are – Shah Mohammad Harun, Abul Kashem Mohammadullah, Mahmuda Hossain, Kamrul Islam and Fazlur Rahman.

As all the convicts have been shown fugitive, the punishment will be effective from the day of their arrest or surrender.

In 2006, Bangladesh Bank (BB) dissolved Oriental’s Board of Directors after detecting massive irregularities, and converted it to ICB Islamic Bank.

The ICB Islamic Bank later decided to refund cash to 93 percent of the depositors of the erstwhile Oriental Bank.

The remaining 7 percent of the depositors were supposed to be paid as per the reconstructed scheme for repayment approved by BB.

BB extended the deadline for refunding all the affected depositors’ fund of Oriental by May 2018.