On the basis of a forensic audit, UCB requests a $350 million reimbursement.

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 On the basis of a forensic audit, UCB requests a $350 million reimbursement.

Based on indisputable proof from a forensic audit, UCB has ordered that $350 million that belongs to Saifuzzaman Chowdhury be returned to Companies House in the UK. The information from UCB's forensic audit indicates that this money was laundered from UCB.

According to reports in both domestic and international media, UCB has ordered that Saifuzzaman Chowdhury refund around 250 million pounds, or $350 million, to Companies House in the United Kingdom.

The British Daily Telegraph ran a story about this on Monday. Saifuzzaman Chowdhury reportedly possesses over 300 homes in the UK, valued at over 170 million pounds, which he purchased using funds gained unlawfully.

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A portion of these assets are currently being sold by the UK's Grant Thornton administrators in order to settle the debts owed to the creditors. Bangladesh's UCB, Singapore's DBS Bank, and the British Arab Commercial Bank are among the creditors.

It is important to note that throughout the past few months, the former board of directors of UCB has been involved in widespread corruption, extensive money laundering, and unethical dealings, as documented by both domestic and international media. This powerful group was removed when Bangladesh Bank disbanded the previous board of directors and established a new one following the political upheavals last year.

Meanwhile, the investigation by Bangladesh Bank, ACC, and UCB's own forensic audit discovered extensive financial violations against the previous board of directors. Proof that they transferred funds to their personal accounts by using paper firms that were anonymous. These alleged proceeds were used to purchase homes in Dubai and London after being laundered out of the nation. UCB has requested that the same funds be returned.

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A total of Tk 5.7 billion worth of shares belonging to seven former directors—including former Land Minister and UCB Chairman Saifuzzaman Chowdhury Javed and his wife Rukmila Zaman—were seized on the court's instructions in a case that the ACC filed in July. Ruxana Zaman, Nurul Islam Chowdhury, Bazol Ahmed, MA Sabur, Anisuzzaman Chowdhury, and Bashir Ahmed are also on the list.

Although the High Court rejected their plea, certain former directors who had their shares seized and who had corrupted the bank attempted to use the legal system to prevent the bank's annual general meeting (AGM).

These include Shawkat Aziz Russell, who is in serious financial trouble with a loan of Tk 6 billion in arrears and another Tk 1,9 billion in loans that have been kept from being classified as defaulters due to a court stay order; M. A. Sabur, a close associate of the former board of directors, who is accused of weak administration and providing opportunities for vested interests; and Bashir Ahmed, a close associate of the former Land Minister, who is accused of multiple money laundering cases and is prohibited from traveling overseas by the government.

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Protecting the interests of clients is now the top concern for the current UCB administration, who have moved past all previous anomalies. Customers now have more faith in UCB as a result of this wise decision. In the first seven months of 2025, the bank's net deposit growth grew by 200% in comparison to the whole 2024 year.

By placing the highest priority on safeguarding the interests of the clients in order to preserve their deposits, the present board of directors is committed to restoring stability and transparency to UCB. They are making the audacious choices and changes required to resolve the issue and advance the bank.