Court bars ex-premier bank chairman, 19 others from leaving country

A Dhaka court has imposed a travel ban on former Premier Bank PLC chairman H B M Iqbal and 19 others in connection with a wide-ranging corruption and money-laundering investigation.

Dhaka Metropolitan Senior Special Judge Sabbir Foyez issued the order on Tuesday following a petition by the Anti-Corruption Commission (ACC). Bench assistant Riaz Hossain confirmed the order.

The travel ban covers Iqbal’s family members and several current and former senior officials of Premier Bank, including director Mohammad Imran Iqbal; Moin Iqbal; Nowrin Iqbal; managing directors and CEOs Md Abu Zafar and Kazi Abdul Majid; former MDs Khondoker Fazle Rashid, M Shah Alam Sarowar, Niaz Habib, Masihul Haq Chowdhury, and KAAM Majedur Rahman; Dr M Riazul Karim; additional managing directors Syed Nowshar Ali, Shahid Hasan Mallik, and Shahed Sekander; former AMD Shamsuddin Chowdhury; director Arif Alam; Fauzia Rekza Banu; senior vice president A M Omar Khasru; and Farida Yasmin.

According to the ACC petition filed by its deputy director Hossain Sharif, Iqbal and his family members, along with bank officials, are accused of embezzling large sums through office rent schemes, loan irregularities, inflated stationery expenses, illegal FDR profits and misuse of the Premier Bank Foundation. The petition alleges that more than Tk 20,000 crore was syphoned abroad through money laundering channels.

The ACC told the court that several suspects were attempting to flee the country, which could hinder the ongoing investigation. The court agreed that restricting their travel was necessary to ensure an unhindered inquiry. 

MAL/NSA