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Janata Bank clarifies reports on UAE operations
Published : Sunday, 4 October, 2026 at 7:46 PM
Press Release
Janata Bank PLC has clarified several issues raised in recent reports aired by private television channels concerning its banking operations in the United Arab Emirates (UAE), saying some of the matters highlighted in the reports had already been settled.
In a statement issued on Sunday, the bank said a recent report referred to the write-off of loans sanctioned in the names of Finance Morris and Metropolitan Enterprise, companies of Sheikh Khalifa Group, and identified the borrower as former Dubai ruler Sheikh Khalifa bin Mohammed Al Nahyan. The bank said the report also showed a photograph of the late UAE President Sheikh Khalifa bin Zayed Al Nahyan, who was a different person. According to the bank, documents show that the final liability concerning the loans was settled in 2003 in accordance with a 1989 arbitration court order and with the consent of the highest levels of the governments of the two countries.
Regarding a report about the recruitment of three Indian nationals without approval from Bangladesh Bank, Janata Bank said its UAE operations recruit local employees in accordance with the Janata Bank, UAE Branches, Employees Service Regulations-1982, introduced in 1982. The bank said there is no requirement to obtain prior approval from Bangladesh Bank for the local recruitment of employees for its overseas operations.
The bank also addressed reports concerning a Bangladesh Bank directive to close Janata Exchange Company (JEC) SRL in Italy. It said the matter was brought to the attention of the Financial Institutions Division of the Ministry of Finance, which instructed the bank to keep the company operational instead of liquidating it, citing concerns that closure could negatively affect remittance inflows to Bangladesh and the country's image. Janata Bank said it has introduced agent banking in Italy to increase remittance collection and is working to make the operation profitable gradually.
The bank further said that six laptops described in the report as non-existent do in fact exist and are being used for official purposes. It added that several other issues mentioned in the reports based on a 2023 Bangladesh Bank investigation had already been resolved.
Janata Bank said reports concerning already-settled matters while naming a member of the UAE royal family could negatively affect relations between the two countries and potentially put at risk the large labour market employing around 1.2 million Bangladeshi expatriates in the UAE. The bank urged media outlets to ensure greater caution and factual accuracy when reporting on matters involving the bilateral interests of Bangladesh and the UAE.
- MaT
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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; Advertisement: 41053012; 01793317829, 01550707291, E-mail: [email protected], [email protected] Online: email: [email protected] 41053014; 01550707297 Advertisement: 01550707296
