BASIC Bank Limited controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2015
Alleged embezzlement and corruption cases
The Anti-Corruption Commission filed 56 cases against 156 people over alleged embezzlement associated with the bank. Reports cited estimates of approximately Tk 20 billion in alleged losses and a larger Bangladesh Bank estimate of about Tk 45 billion allegedly misappropriated over six years.
2015
Controversy over investigation scope
A parliamentary committee and the Supreme Court criticized the Anti-Corruption Commission for not naming or establishing the involvement of former chairman Sheikh Abdul Hye Bacchu in its report. Bacchu denied the allegations.
2014
Defaulted-loan and governance controversy
BASIC Bank faced allegations of extensive irregular lending and defaulted loans during the tenure of chairman Sheikh Abdul Hye Bacchu. Bacchu resigned in July 2014 after scrutiny of approximately Tk 4.5 billion in defaulted loans.