Bangladesh Bank today accepted his resignation letter.

Why has no investigation taken place to explore on which grounds and for whose benefit the lion’s share of the climate fund was deposited in the Farmers Bank?

Padma Bank, formerly known as Farmers Bank, is going to get over two years, until April 2028, to clear a Tk 55 crore penalty for its failure to maintain the regulator-stipulated cash reserve ratio (CRR) from 2017 to 2019. 

Several big loan scams in the banking and financial sectors came to the fore in the last decade and the Anti-Corruption Commission (ACC) has done its job by filing cases. But, no progress is apparent.

The High Court today refused to grant bail to Sohel Rana, suspended manager of Farmers Bank's Tangail branch, in a case filed on charges of misappropriating and laundering Tk 9.28 crore from the bank.

The High Court rejects a bail petition of Mahbubul Haque Chisty, former chairman of Farmers Bank audit committee, in a corruption case filed for misappropriating Tk nine lakh of the bank funds for his personal travelling.

With Farmers Bank, no-one knows when the woos will end. And as days go by, more and more depressing statistics are coming out.

With Farmers Bank, no-one knows when the woos will end. And as days go by, more and more depressing statistics are coming out.

The Anti-Corruption Commission has found the involvement of several people in the forgery of two loans acquired from Farmers Bank, ACC Chairman Iqbal Mahmood yesterday said.

A Dhaka court yesterday ordered the Anti-Corruption Commission to confiscate the moveable and immoveable properties of former Farmers Bank director Mahabubul Haque Chisty and his wife Ruzi Chisty in connection with a case over laundering Tk 160 crore.

It defies rationale that the central bank would relax its own rules of business to allow for four state-owned banks and one government financial institution to inject Tk 715 cores into the troubled Farmers Bank. BB's investigations into the bank found that its top brass is complicit in the financial meltdown that involved the former chairman and ex-chairman of the executive committee. Yet, we find that instead of ordering structural changes in the way the bank is managed, the central bank is more interested in replenishing the bank's fortunes.

In yet another compromise with directors of private commercial banks, the government yesterday decided to slash the cash reserve requirement or CRR of banks by one percentage point to 5.5 percent for their benefit.

The government will allow state agencies to deposit 50 percent of their funds to deposit in private banks, up from the existing ceiling of 25 percent, to tackle the liquidity crisis in the sector.

Bangladesh Bank has unearthed another string of scams at the Farmers Bank involving loans of around Tk 500 crore that were sanctioned to 11 companies in violation of banking norms and procedures. Of the amount, loans of more than Tk 367 crore that the bank's Motijheel branch gave to 10 of the companies from November 2013 to November last year have become defaulted. Some of the firms are either obscure or little-known.

The government is forcing Farmers Bank to sell majority of its share to state banks in efforts to save the sinking private bank mired in loan scandals.

Former chairman of Farmers Bank Muhiuddin Khan Alamgir denies all allegations of irregularities brought against him in distributing loans of the bank.

On the face of it, banks are awash with money. In September last year, excess liquidity of the banks totalled Tk 92,000 crore. The paradox is the banks do not have money when it comes to lending.

Finance Minister AMA Muhith has held the entrepreneurs responsible for the Farmers Bank debacle and advised Bangladesh Bank to merge the bank with other banks.

The cash-strapped Farmers Bank failed to repay interbank short-term loans of about Tk 700 crore to four banks over the past two months, a development that may further erode depositors' confidence in the scam-hit bank.

Bangladesh Bank yesterday gave the cash-strapped Farmers Bank a breathing space of three months to address its current crisis.