Photo : Messenger
The declaration was initially made to import poultry feed and machinery, but it ended with the import of a full container containing banned liquor, cigarettes, LED TVs, and photocopiers.
This was done by a client of the first-generation IFIC Bank (International Finance Investment and Commerce Bank PLC). The IFIC authorities not only failed to prevent the opening of bank accounts with fake NIDs but also did not take any action against the client, even though prohibited products were imported on a false declaration. This information was revealed in a report from the Customs Intelligence and Investigation Directorate (CIID) recently sent to Bangladesh Bank.
According to the information, CIID received intelligence that 12 containers awaiting release at Chittagong port contained prohibited goods. Additionally, the agency received information that the products in these containers were imported under false declarations. Subsequently, customs detectives seized the containers. Two companies that imported these products are Agro BD & JP in Keraniganj and Henan Anhui Agro LC of Khilkhet.
Before this incident, customs detectives obtained information that the two companies had imported and cleared 78 more containers. Following that, the agency conducted on-site investigations against the two companies. However, the Directorate of Customs Intelligence and Investigation could not find the existence of these companies at the declared addresses.
Furthermore, none of the names and identities of the importers from these two companies are related to this incident.
Meanwhile, 9 letters of credit (LC) were opened in the name of these two companies. Moreover, 46 containers were imported through 9 bills of entry. On the other hand, the importing company Henan Anhui Agro LC imported 32 containers through 6 bills of entry against 6 other LCs. The investigation revealed that a total of 78 containers filled with commercial and prohibited goods were imported under false declarations.
Additionally, the two companies also opened bank accounts with fake NIDs. Agro BD & JP and Henan Anhui Agro LC opened accounts at IFIC Bank's Nayapaltan branch by forging another person's name and signature. The companies obtained registration from Customs, Excise, and VAT departmental offices of Lalbagh and Gulshan. Among them, Agro BD received registration as Musak number 19191074062, and Henan Anhui Agro LC received Musak number 18141136104. The NID and signature of Abdul Motaleb, the proprietor of the company, in the Musak registration, have the NID and signature of a person named Khorshed Alam. The firms have also taken advantage of on-chassis delivery and advance trade VAT waivers by forging registrations.
IFIC Bank has not submitted any report about these non-existent companies that opened import LCs through fraud. Abdul Motaleb committed a fraud of Tk 68.64 crore under false declaration of importing poultry machinery. Customs detectives also accused him of laundering money abroad.
The Directorate of Customs Intelligence and Investigation has written to the three organizations proposing to form a joint investigation committee on these matters. Customs intelligence informed CID and Bangladesh Financial Intelligence Unit (BFIU) have formed a joint investigation committee to work together.
BFIU, a specialised organisation working to prevent money laundering, was contacted to learn about money laundering. In this regard, BFIU chief Masud Biswas told The Daily Messenger, “We have such a letter. BFIU is committed to combating any economic crime. We are in regular contact and cooperation with Customs Intelligence and CID. An investigation committee will be formed in the continuation of this. We will investigate and take action against those who are guilty.”
Ahsan H. Mansoor, the former chairman of BRAC Bank, commented that the bank cannot avoid responsibility in such serious irregularities. He told The Daily Messenger, “Not everyone can open an account in a bank. In that case, the banks have to verify the name, address, NID. If someone opens a bank account in the name of another person and with a different NID, then the respective branch of the bank must be responsible. The manager of the respective branch of the bank, all the officials involved in account opening are guilty of opening the account without verifying these.”
He also said, “The bank's liability does not end by opening the LC. Whether the client has opened the LC and imported, whether the declared amount has been imported or not, whether the import has been done according to the rules or not, everything has to be verified. If everything is fine, the last step is to pay the import bill. But in this case, the bank has already paid the bill. Which means, the bank bosses are definitely involved in this.”
Efforts were made to contact Shah Alam Sarwar, the managing director of IFIC, to inquire about this. He was called several times but did not pick up the phone. Later, a WhatsApp message with the question was sent to his number, but he did not reply.
Attempts were not successful to contact the company secretary of the bank, Mokammel Haque, who also did not answer the phone. A message with the question was sent to his WhatsApp number mentioning the identity of the reporter. He saw the message but did not reply.
Rafiqul Islam, the bank's deputy managing director and head of branch business, hung up when called. Later, when the head of legal affairs of the bank, SM Alamgir Hasan, was called, he also hung up on the matter by suggesting to speak to the managing director.
Naila Tarannum Chowdhury, Head of Branding, Communications and Corporate Affairs of IFIC Bank, was contacted for the statement of the MD and the bank. She told The Daily Messenger, “Today (yesterday) is our DMD sir's farewell. We are all busy. I noticed your question. Call me in an hour. I will speak.”
She was called several times after an hour, but she did not answer the call. All efforts were unsuccessful to get any statement of the bank about the liability of the bank in the incident.
Messenger/Disha
