Friday | 4 October 2024 | Reg No- 06
বাংলা
   
Friday | 4 October 2024 | Epaper
BREAKING: Ex-food minister Sadhan Chandra remanded      Two tourists drown in Mirsarai waterfall      Actor Sohel Rana floats Bangladesh Justice Party      Bangladesh rolls out red carpet for Malaysian PM      Low-pressure area likely over southwest Bangladesh      Malaysian PM Anwar Ibrahim arrives in Dhaka       3 die in Jamalpur road crash      

Jibon Bima seeks Ministry's help to recover Tk 126.95cr from Padma Bank

Published : Friday, 4 October, 2024 at 12:00 AM  Count : 290
Bangladesh Jibon Bima Corporation has reached out to the Ministry of Finance, requesting assistance in recovering Tk 126.95 crore tied up in eight expired FDRs at Padma Bank.

In a letter to the Financial Institutions Division, the corporation's Managing Director Md. Muhibuzzaman outlined the ongoing struggle to reclaim the funds. This plea follows the bank's failure to pay dues even after its rebranding from Farmers Bank to Padma Bank Limited in September 2018.

According to the letter, Jibon Bima had invested Tk 115.53 crore in eight one-year term deposits across seven branches of Padma Bank between 2015 and 2016. However, when the corporation attempted to cash out the deposit at the Imamganj branch in December 2017, the bank was unable to release any funds.

Despite repeated reminders and several rounds of correspondence, Padma Bank failed to return the money, the letter said.

The corporation initially reached out to the government for support in April 2018, when the unpaid amount, including interest, had already ballooned to Tk 122.93 crore. Despite these efforts, the funds remain unrecovered.

By the end of August, the total amount owed by Padma Bank had grown to Tk 126.95 crore. Multiple follow-up letters have been sent to the bank, but so far, Jibon Bima Corporation has received no response.    —UNB



LATEST NEWS
MOST READ
Also read
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Online: 41053014; Advertisement: 41053012.
E-mail: info©dailyobserverbd.com, news©dailyobserverbd.com, advertisement©dailyobserverbd.com, For Online Edition: mailobserverbd©gmail.com
🔝