Corruption is endemic in the Probashi Kallyan Bank while nepotism is an old story in the specialised government bank set up to deliver services to the migrants, officials said, seeking anonymity.

Since its establishment on April 20, 2011 with Tk950m from the Wage Earners’ Welfare Fund and only Tk50m from the government exchequer, the bank failed to run commercially.

A section of the Probashi Kallyan Bank (PKB) officials expressed concern that the bank became unsuccessful not only to lend money to the overseas job seekers but also to bring remittance home from migrants.

From April 2011 to August 2013, the bank provided loans for only 2,500 people to go abroad while less than 100 returnees received rehabilitation loans.

During the same period, around 1.3 million people migrated to different countries, according to the Bureau of Manpower, Employment and Training. 

The officials said the bank provides a loan of only Tk84,000 to a job seeker while a job seeker has to spend Tk2,00,000 to Tk3,00,000 to go abroad.

Lack of skilled manpower with banking experience has been attributed to the failure of the bank which came into being for relieving overseas job seekers of sale of their property or borrowing to repay the moneylenders debt.

Instead of enhancing its capacity, the PKB authorities without any advertisement have recruited less qualified persons allegedly in exchange of bribe.

Relatives close to high officials and board members have also been given appointments.

Sources at the bank said a total of 121 people have been recruited while more than 100, mostly students, are now working at the bank as interns.

Of the 121 employees, many possess 3rd classes in their academic career.

As per the rule, a job seeker with 3rd class cannot apply for the post of an officer in the bank, but the authorities hired many with 3rd class degrees in their academic standing violating the rules and regulations. 

If a new organisation has no service rule, it is to follow the service rules of a similar organisation.

Despite having one 3rd class, A PKB employee Syed Mehedi Hasan has been recruited, and he is now working in Barisal branch of the bank.

Another employee – Rangalal Bala – with a similar result is now working in the bank’s principal branch.

Atiqur Rahman also falls in the same category and works at the Barisal branch.

Seeking anonymity, a PKB employee said he got the job in exchange of a bribe.

The employee said he was supposed to pay Tk2,00,000 for getting the job in the post of a junior officer, but he paid only Tk35,000 as he was not given the post he wanted.   

The employee alleged that he was still being pressurized to pay the rest of the amount.

Another employee working in the bank’s Khulna branch said he got the job paying a bribe of Tk200,000.

He said he had not given the money, but his brother “managed” it.

About 100 people are working in the bank as interns. Of them, 45 are students who are working as junior executives.

Nusrat Jahan has passed merely HSC and is now working as junior executive while Mahfuzur Rahman, an HSC, is a junior executive officer.

Sources said PKB branches in Bogra, Sirajganj, Hathazari, Cox’s Bazar are being run mostly by interns having no minimum required experience.

Probashi Kallyan Bank opened its principal branch and Rangamati branch without the permission of Bangladesh Bank.

PKB Chairman and Expat Welfare Secretary Zafar Ahmed Khan said: “I don’t know everything of what had happened.”

“I will take steps if rules are violated in the bank,” Zafar told the Dhaka Tribune on Friday.

But PKB Managing Director CM Koyes Sami defended the recruitment process of the bank.

“As a new bank we have to do many things at the outset, but next time the jobs seekers have to sit for recruitment tests,” he told the Dhaka Tribune Thursday.

“We cannot run the bank commercially as it requires Bangladesh Bank permission which we are trying for,” said Koyes Sami who was the chief executive of Oriental Bank that collapsed due to mounting bad debt.