Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Tuesday, October 23, 2018 02:37:21 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Tk 10cr at risk

Farmers Bank now fails to pay Ansar-VDP Bank's deposit

By
10th-Jan-2018       
Comments
Share your thought
Post a comment »
Read all () »

Kazi Zahidul Hasan :
In a new development, scam-hit Farmers Bank Limited fails to pay back a fixed deposit of Tk10 crore of Ansar-VDP Unnayan Bank which is asking for the repayment over the past few weeks.
The fund was deposited for one year at 9 per cent interest.
"We want to pull out all our deposit in view of the fact that Farmers Bank has become insolvent," a senior official of Ansar-VDP Unnayan Bank told The New Nation asking not to be named.
He said they have asked for paying back of their deposit for last one and a half months. "But they refused to pay. Now, we fear the safety of our deposit."
The latest disclosure came at a time when the cash-strapped Farmers Bank is consistently failing to pay back deposits held by other institutions and individuals.
Over the last few months, the Farmers Bank was unable to pay a matured fixed deposit of Tk220.70 crore of Bangladesh Climate Change Trust Fund. It twice failed to honour a cheque worth Tk 35.44 crore presented earlier by Bangladesh Telecommunications Company Ltd, in addition to failing to repay inter-bank short-term loans of about Tk700 crore to four other banks.
In October last year, Bangladesh Bank in a report to parliamentary standing committee on the finance ministry said the bank had not the    capacity to pay back funds to depositors and other banks.
The cash strapped Farmers Bank sought a bail out fund of Tk 300 crore from the central bank on November 9 to tackle liquidity crisis when it failed to lure deposits even after offering high interest rates.  But the central bank refused to extend the support. 
Mohammad Jalaluddin, Managing Director of Ansar-VDP Unnayan Bank, told The New Nation yesterday that they have asked for paying back their deposits but Farmers Bank has refused to pay back.
He said they need their deposit for investment but Framers Bank is using various pretexts to delay including the funds are yet to be matured. "Usually, we put our deposit to a scheduled bank for one-year maturity," he added.
Mohammad Jalaluddin, however, declined to disclose the interest rate on their deposit.
Another official of Ansar-VDP Unnayan Bank said their deposit was made at Farmers Bank for one year term that expired in June last year. It was then renewed again for another year in July. 
"They are calling for completion of the full term but the way the bank is failing to honour its commitment here is a big risk to wait up to that time. We have no confidence and our priority now rests on recovering the fund," he added. 
"We will go to the Finance Ministry asking its intervention if it fails to pay back soon." 
The Managing Director of Farmers Bank could not be reached over phone for comments.


Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

The authoritarian ruler must go


THE Maldives' top court on Sunday ended weeks of uncertainty by rejecting strongman President Abdulla Yameen's controversial bid to annul last month's election results, upholding his landslide defeat to the opposition candidate Ibrahim Mohamed Solih. The five-judge Supreme Court bench unanimously ruled that Yameen had failed to prove his claim ...

Cricket »

Asia Cup knock still Imrul's best


After registering his highest ODI score in the series opener against Zimbabwe, Bangladesh batsman Imrul Kayes has still rated it as his 'second-best' innings.Imrul smashed 140-ball 144 runs including 13 fours and 6 maximums against Zimbabwe which helped Tigers win by 28 runs in the first ODI at Mirpur.Even after ...

Football »

Messi injury means Coutinho, Dembele must step up for Barca


AP, Barcelona :With Lionel Messi out with a broken arm, the two most expensive signings in Barcelona's history have a perfect opportunity to step up and show their value.Barcelona spent more than 300 million euros to sign Brazil midfielder Philippe Coutinho and France forward Ousmane Dembele last season as it ...

International »

Turkey turns up heat on Saudi crown prince over Khashoggi


AFP  :Turkey's pro-government media published new claims on Monday linking Saudi Crown Prince Mohammed bin Salman to the death of journalist Jamal Khashoggi after President Recep Tayyip Erdogan vowed to reveal the "naked truth" about the case.Erdogan said at the weekend he would give new details in a speech on ...

International »

Nnamdi Kanu: Nigerian separatist leader resurfaces in Israel


Missing Nigerian separatist leader Nnamdi Kanu has resurfaced in Israel more than a year after soldiers stormed his home. "I'm in Israel," Mr Kanu said on Sunday in a broadcast on his outlawed pirate radio station - Radio Biafra. A video of the Indigenous People Of Biafra (Ipob) leader praying ...

City »

Prime Minister Sheikh Hasina administering oath to the newly elected Mayor of Barishal City Corporation Serniabat Sadik Abdullah at her office in the city on Monday.


Entertainment »

Emon, Airin pair up in movie for first time


Sheikh Arif Bulbon :Popular film actor Emon and model cum actress Airin Sultana have paired up for the first time in a movie titled Akash Mohol. Noted filmmaker Delwar Jahan Jhontu is making the movie under the banner of Impress Telefilm. The shooting of the movie began at the Bangladesh ...

Cricket »

Imrul Kayes scores career best 144


Bangladeshi opening batsman Imrul Kayes proved his worth scoring his 3rd ODI century with career best 144 runs in a tough situation against Zimbabwe in the first match of the three-match ODI series at the home of Bangladesh Cricket-Sher-e-Bangla National Stadium in Mirpur on Sunday.When Bangladesh were losing wickets on ...

Football »

Emery's Arsenal face gruelling week


Unai Emery admits Arsenal will struggle to cope with a draining schedule that sees them host Leicester at the start of three games in seven days.Emery's side will be pushed to the limit by the television schedulers, who moved their Premier League clash with the Foxes to Monday evening at ...

Entertainment »

Shahnoor: Shukla of movie Indubala


Sheikh Arif Bulbon :Shahnoor loves acting in different roles. She always feels comfortable to present herself in challenging roles. For this reason, she was seen to act in such type of roles in recently acted movies. As a part of its continuation, she is going to work in a challenging ...

City »

Bangladesh Jatiyatabadi Chhatra Dal and Jubo Dal and other organisations brought out a procession protesting verdict against BNP Acting Chairman Tarique Rahman in August 21 grenade attack case at Kalyanpur area in the city yesterday .


International »

Withdrawal from nuclear arms deal `dangerous step` for US: Moscow


AFP, Moscow: Withdrawing from a Cold War-era nuclear weapons treaty with Russia as US President Donald Trump has announced he plans to do is a dangerous step, Russia's deputy foreign minister warned on Sunday."This would be a very dangerous step that, I'm sure, not only will not be comprehended by ...

Editorial »

Khashoggi`s brutal murder has brutally damaged image of Saudi Kingdom


The Saudi Kingdom has ultimately confirmed that writer and critic Jamal Ahmad Khashoggi was killed inside the Saudi consulate in Istanbul city.  Saudi state media reported Khashoggi was killed in "fist-fight" with the Kingdom's officials inside its consulate. The announcement marked a U-turn from the Kingdom, which had previously denied ...

International »

Khashoggi criticises Saudi Prince in newly released interview


Saudi critic Jamal Khashoggi criticized Crown Prince Mohammed bin Salman's "authoritarian rule" shortly before his death, in an interview published following confirmation he died at the kingdom's Istanbul consulate.Speaking off the record to a Newsweek journalist working on a story about the Saudi leadership, he insisted he did not view ...

Business & Economy »

Economists sign declaration against Brazil frontrunner


AFP, Rio De Janeiro :More than 350 economists -- among them a Nobel Prize winner -- have signed a declaration saying Brazil's frontrunner to be president, far-right politician Jair Bolsonaro, is not the best choice for his country.The experts stated that Bolsonaro's leftist rival, Fernando Haddad, was "the best alternative" ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news