The managing director of private commercial bank AB Bank has stepped down, according to a senior official of the bank.
Moshiur Rahman Chowdhury, who joined the bank in 2003 as a vice president, has submitted his resignation to the board of directors on Thursday, a senior official of the bank, who asked not to be named, confirmed.
His resignation comes at a time when the Anti-Corruption Commission is investigating two separate scams — laundering of Tk 1.65 billion and embezzlement of Tk 3.83 billion
In the money-laundering scam probe, the ACC has questioned 16 people, including its former chairman M Wahidul Haque, two former managing directors and six current directors.
According to the graft watchdog, a total of Tk 1.65 billion is believed to have been laundered in the name of investment abroad through Pinnacle Global Fund or PGF, a firm based in the UAE, between October 2013 and June 2014, when Wahidul was the chairman of AB Bank.
The officials involved in the investigation said a decision to raise a $100 million fund—$20 million of AB Bank and $80 million of PGF—and invest it in Dubai was made in 2013.
In February 2014, AB Bank transferred $20 million from one of its offshore units to an account of a bank in Abu Dhabi without the Bangladesh Bank’s permission.
On Sept 17 this year, the ACC summoned 12 directors of the banks, including the former chairman, in connection with a case filed on charges of embezzling Tk 3.83 billion from the bank’s Mohakhali branch.
Notices have been served to directors M Wahidul Haque (former chairman), Feroz Ahmed, Shishir Ranjan Bose, Syed Afzal Hasan Uddin, and former directors Md Imtiaz Hossain, Mishal Kabir, Fahmidul Haque, Mesbahul Haque, Anwarul Jamil Siddique, BB Saha Roy and Jakiya Sharud Khan.