FAS Finance’s ex-MD barred from leaving Bangladesh

Bangladesh Immigration Police has barred FAS Finance and Investment's former managing director, Pritish Kumar Sarker, from leaving the country because of his alleged involvement in financial scams.

The law enforcing agency took the step upon request of the non-bank financial institution.

FAS Finance sent a letter to the additional superintendent of police (immigration) on September 12, mentioning that "a financial scam of huge amount occurred at the lender where PK Halder and associates were directly involved".

"A Wahab & Company, a chartered accountant firm, found involvement of Sarkar in the matter of financial irregularities," the letter read.

Contacted, AF Shabbir Ahmed, acting managing director of FAS Finance, said the non-bank had taken the initiative as per direction of the central bank.

Sarker had served FAS Finance as managing director from January 2018 to August 2022 until the submission of his resignation letter.

Despite repeated attempts, Sarker could not be reached over phone for comment.