Bangladesh Bank on Thursday removed its executive director Shah Alam from the Financial Institutions and Market Department after allegations surfaced of his connections with rogue businessman PK Halder.
BB ED Mohd. Humayun Kabir has been appointed in his place. Alam will be dispatched to another department.
Alam’s involvement with the Halder’s irregularities and corruption come to the light through a confessional statement of Rashedul Haque, a close aide of Halder and also a former managing director of the International Leasing and Financial Services (ILFS).
On January 24, the Anti-Corruption Commission (ACC) arrested Haque as he was accused of five fraud cases of ILFS.
Alam and former BB Deputy Governor SK Sur Chowdhury were on the payroll of Halder to hide the irregularities and corruption of financial institutions, as per Haque’s confessional statement.
“The central bank officials are embarrassed about their colleague’s activity,” a top BB official said on condition of anonymity.
Alam joined the central bank as an assistant director in 1988 after acquiring his Masters degree in economics from Chittagong University.
In December 2017, Alam has been promoted to the post of ED and a few months later, he was made the head of the department. He was the general manager of the department previously.
