Where irregularities rule the roost!

Dhaka (Dec 6, 2020): Allegations have surfaced that staffers and employees of all levels of the Rajshahi Krishi Unnayan Bank (Rakub) are fed up due to the irregularities and mismanagement by some of the bank’s high officials. 

To get rid of the vicious cycle, an official of Rakub recently lodged a complaint with the Bangladesh Bank and the Financial Institutions Division of the finance ministry.

In the letter, the official also addressed the root causes of the long-running losses of the bank and sought the authorities’ intervention to put an end to the ongoing mismanagement and irregularities.

“One thing upsets me very much. Irregularity is the norm here and nobody cares about the rules and regulations,” it was stated in the letter.

There are many officials in the Rakub who do not perform their official duties regularly. There are two groups, and Toufiq Elahi, president of the Engineering Procurement and Maintenance Department, leads one of the groups, reads the letter.

“He (Toufiq Elahi) does not maintain office regularly. He comes to the office around 11:00am and leaves around 12:00 noon – almost every day…,” adds the letter.

“He earned a huge amount of money through illegal recruitment and transfer when he was CBA (Collective Bargaining Agency) president,” as per the allegation brought in the letter.

Business Insider (BI) reporter tried to contact Toufiq Elahi to get his version, but could not reach him after repeated attempts.

However, the reporter managed to speak to Sawkat Shahedul Islam, assistant general manager of Rakub, who has been named another accused in the letter.

Sawkat said a vested quarter had lodged the complaint deliberately.

“Illogical and baseless allegations have been brought against me. As I am an accused, I can’t respond. I think, management of the bank will reply in this regard,” he said.

Responding to a query, he said he has been staying at the same workstation for the last 12 to 13 years as per decision of the bank authorities.

“It is not my personal choice. I am bound to go to any office in line with the decision of my management,” said Sawkat, who deals with two vital sections – loan and IT – of the bank.

When asked about the allegations of financial irregularities and mismanagement, he said, “I myself leave the office after departure of all employees…and oversee who are doing what for the betterment of the bank.”

Sawkat also advised the reporter to find out the motive behind lodging the complaint.

“If you (journalists) project the truth and the facts will come out and the bank will be benefited in this regard,” he added.

Probe committee formed

Meanwhile, Rakub around a week ago formed a three-member probe committee in line with the directives of the Bangladesh Bank and the body has been asked to submit the report as early as possible, sources at the Rakub told Business Insider.

The Business Insider reporter on Sunday called up Rakub’s General Manager (additional charge) G M Ruhul Amin and Deputy General Manager (personal department) Ranjit Kumar Sen, who are also members of the probe body, two times each but they did not pick up the phone.

After a while, both the officials sent messages to the reporter saying that they were unable to talk as they were engaged in a meeting.