BRAC Bank depositors’ money disappears

In BRAC Bank, a leading private bank in the country, some depositors’ money has disappeared from accounts without their knowledge. The BRAC Bank depositors brought allegations of fraud and deception against the bank.

At least Tk 19 lakh was transferred to other accounts from the accounts of 30 depositors.

“I have deposited Tk 150,000 in my BRAC Bank account, but later I found that all the money had disappeared from my account. Now, the bank is offering me Tk 50,000 only. What kind of banking it is?” a depositor of BRAC Bank told The Independent.

The Bangladesh Bank in its inspection also detected faults in the security system of the bank’s online banking.

When contacted, the central bank officials said that they were looking into the matter and if the BRAC Bank is found guilty of wrong doing, due actions will be taken against it.

The bank will be punished if it is found guilty of wrongdoings, Mahfuzur Rahman, a spokesman of the Bangladesh Bank, added.

When contacted, BRAC Bank officials said they had sent back money to some depositors.

Though the bank claimed that some depositors got their money back, many depositors alleged that they were yet to receive money back in their accounts.

Asked about the allegations, the BRAC Bank authorities said they were yet to send back the money to some ‘suspicious accounts’.

The bank has also brought allegations of forgery against those clients.

When contacted, BRAC Bank’s Managing Director Syed Mahbubur Rahman admitted that such problems might occur in the online banking systems.

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[ Front page ] 2014-07-02

Interest of Tk 8000 for Less than 1 Taka

A Mr. Mojammel Haque has sent his opinion in the Daily Ittefaq on March 09, 2009 stating that, he obtained a credit card from BRAC bank namely “Free for Life” card. He alleged that he had been using the card for several years while paying the monthly bills regularly. He further mentions that in his card there was an unpaid balance of Tk 0.96, which is less than Tk 1.00. As the amount was very small he did not care for paying any bills further. Lately in the month of March he has found that his credit card has a bill of Tk Tk 8069.77. Shocked with this balance he called the Call Center and got a reply that he has to pay the bill and he has no other option. …

The above is the extract taken from “Letters to Editor” page of The Daily Ittefaq. I personally think, the matter which has been published as above, does not provide sufficient information to justify the facts, because the Mr. Haque did not provide when he had an unpaid balance of Tk 0.69 and when he received the bill for unpaid amount. Yet, whatever time period passed in between, I think a bill of Tk 8069.77 is an impossible bill for an amount less than One taka. If the thing is true, we the consumers should go tough against this kind of fees and charges of credit card in our country. Dear readers, if you have any relevant or similar experience with your credit card bills, please share it here. Thanks.