FARMERS BANK under scanner

Bangladesh Bank detected irregularities in sanctioning loans of Tk 400 crore in three branches of the newly-established Farmers Bank.

The central bank had warned the lender's directors, including its Chairman Muhiuddin Khan Alamgir, also a senior leader of the ruling Awami League, of these irregularities.

The BB also asked the bank to punish the corrupt bankers, but the board of the bank turned a deaf ear to the advice.

Depositors are at risk as the bank failed to follow rules and regulations in sanctioning and disbursing loans, a BB official said yesterday.