Farmers Bank can seek review

The Appellate Division of the Supreme Court on Thursday allowed Farmers Bank to seek review of the Bangladesh Bank’s order that fined the bank for concealing information.

According to the Banking Company Act, the bank owned by former home minister Mohiuddin Khan Alamgir now has 14 days to file a review plea with the central bank.

A four-member bench headed by Chief Justice Surendra Kumar Sinha passed the order saying that Farmers Bank can seek review against the central bank order under section 109 (12) of Banking Company Act 1991.

Earlier on January 03 the central bank directed Farmers Bank to pay a Tk 10 lakh fine in 10 days for concealing information.