StanChart says TV news report 'factually incorrect'
Friday, 26 September 2008

Standard Chartered Bank issued a statement on Thursday rejecting a recent news report by ATN Bangla, on the bank's chief executive officer, saying it was 'factually incorrect.', reports bdnews24.com

The statement came three days after the TV station reported a Dhaka court ordered the arrest of CEO Osman Morad, after a client sued him for allegedly seizing her car by force.
 
In a press release, the bank said: "Standard Chartered Bangladesh wishes to advice all its clients, regulators, staff and well-wishers that the news-report on Standard Chartered carried by a local TV channel on 22nd September is factually incorrect."
 
It did not explain the factual mistake in the press release.
 
The bank, however, said it would "pursue appropriate legal recourse against parties involved and will continue to treat defaulters in accordance with the law".
 
ATN Bangla, quoting court documents, reported that Afroza Jamil, the client, borrowed Tk 16,65,000 to buy a microbus and was to repay in 60 monthly instalments.
 
She paid back Tk 7 lakh over 19 months and then missed three consecutive payments, the TV channel reported.
 
She alleged the bank had not given any notice before seizing the microbus using " hired goons" of a debt collection agency called Credit Care.
 
The case was filed back in March this year, and police conducted a five-month inquiry.
 
The bank's collection manager for the city's Dhanmondi branch, Zia Hasan Chowdhury, accused in the case secured bail in the case after surrendering to court on Tuesday.
 
The court order was based on a police report, the TV station said.

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