Tk 19cr vanishes from the vault of Union Bank

The Bangladesh Bank has found a mismatch of Tk 19 crore in Gulshan Branch of Union Bank, a Shariah-based new generation bank.

The central bank has unearthed the irregularity after an inspection in the bank branch recently.

Contacted, Bangladesh Bank Executive Director and Spokesperson Md Serajul Islam told The Business Post, “A BB inspection team found a discrepancy in monetary amount in the vault of the Union Bank’s Gulshan Branch.”

The central bank is going to take legal action against the new generation bank, he added. It was mentioned in the vault document that there was a deposit of Tk 31 crore in the bank’s Gulshan Branch, but the central bank inspection team found only Tk 12 crore in the vault, according to the central bank.

There is a deficit of Tk 19 crore in the vault and the branch officials could not give any clear answer to the probe team, an investigating official said, seeking anonymity.

The Business Post correspondent tried to reach Union Bank Managing Director ABM Mokammel Hoque Chowdhury over phone, but he did not respond.

Till filing the report, Mokammel did not even answer the text messages sent for his comment. Asked about the vault incident, additional Managing Director of the bank Md Habibur Rahman claimed that he is not aware of the issue.