A Dhaka court has imposed a travel ban on SM Amjad Hossain, the former Chairman of South Bangla Agriculture and Commerce (SBAC) Bank, in connection with a high-profile case involving a defaulted loan amounting to BDT 75.22 crore taken from Janata Bank, one of Bangladesh’s largest state-owned lenders.
The order was handed down on Wednesday by Judge Mujahidur Rahman of the Dhaka Economic Loan Court-5, following a petition brought forward as part of ongoing proceedings to recover the substantial outstanding sum. In a significant development, the court also extended the travel restriction to Amjad Hossain’s wife, Sufia Amjad, signalling the seriousness with which the judiciary is addressing matters related to large-scale loan irregularities.
Court Orders Sent to Enforcement Authorities
The court has already issued formal copies of the directive to all relevant authorities, including the Immigration Police, Special Branch, and other agencies responsible for monitoring international travel. This ensures that both individuals are prevented from leaving the country until further orders are issued or the matter is resolved in accordance with legal procedures.
Officials close to the matter have stated that such travel bans are typically imposed to ensure the presence of accused individuals during court proceedings and to prevent attempts to evade legal responsibilities by travelling abroad.
Background to the Case
SM Amjad Hossain, once a prominent banking figure, has faced increasing scrutiny in recent years over alleged financial mismanagement tied to his tenure at SBAC Bank. The case involving Janata Bank revolves around a loan that reportedly became non-performing due to irregularities in repayment and questioned use of funds. The outstanding amount—BDT 75.22 crore—has drawn public attention at a time when the banking sector is under pressure to strengthen governance and reduce the burden of non-performing loans.
Wider Implications for the Banking Sector
The imposition of the travel ban reflects a broader push by Bangladesh’s financial regulators and judiciary to crack down on loan defaulters and enhance accountability within the banking system. With non-performing loans continuing to pose a major challenge, authorities have increasingly resorted to stricter legal measures, including travel restrictions, asset seizures, and enhanced investigative procedures.
Analysts note that visible and decisive action in such cases not only supports the recovery process but also serves as a deterrent to potential offenders. As the case proceeds, all eyes will remain on the court’s next steps, as well as the progress made by Janata Bank in recovering the defaulted amount.