The High Court required documents of the Bangladesh Krishi Bank relating to waiver of Tk 48 crore interest for Chattogram BNP leader and businessman Abbas Ali.

Chairman and Managing Director of Bangladesh Krishi Bank will have to produce the documents before the HC in four weeks.

The apex court also issued a rule asking the authorities concerned to explain as to why waiver of the interest shall not be illegal.

Finance Secretary, Bangladesh Bank Governor, head of Bangladesh Financial Intelligence Unit, and Chairman and Managing Director of Bangladesh Krishi Bank will have to reply to the rule within four weeks.

The HC also questioned the legality of the decision taken by the bank's board of directors waiving the interest to the amount of Tk 48 crore for Abbas Ali, proprietor of Abbas Trading Corporation.

A Division Bench comprising Justice M Enayetur Rahim and Justice Sardar Md Rashed Jahangir passed the order on Monday, following a writ petition filed by Supreme Court lawyer Anisur Rahman challenging the legality of interest waiver.

BNP leader Abbas Ali reportedly obtained Tk 85 crore as loan from Bangladesh Bank 10 years back for the purpose of business.

Failing to pay the loan pushed him to be sued by Bangladesh Krishi Bank in 2013.

Anti-Corruption Commission (ACC) also filed a case against Abbas for laundering money the same year. Although the cases were pending, he preferred an application to Bangladesh Krishi Bank in June 2019 seeking amnesty.

Board of Directors of Bangladesh Krishi Bank in its 740th meeting decided to waive the colossal interest which he was due to pay.

Lifting interest was not covered by Bangladesh Krishi Bank Ain (Act) 1973, the petitioner contended.