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Writ petition challenging action of Bangladesh Bank

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October 25, 2000 

Dhaka-- (UNB) - All business activities barring operation of bank accounts of the Islamic Trade and Commerce Ltd (ITCL) will continue, according an order of the High Court yesterday.

The order of the division bench comprising Justice Abu Sayeed Ahmed and Justice Khademul Islam Chowdhury came upon a writ petition challenging the action of the Bangladesh Bank against ITCL.

The court on preliminary hearing issued rule upon the Central Bank to show cause why the action against the petitioner should not be declared ultra vires and illegal. The rule is returnable in two weeks.

Bangladesh Bank on October 22 ordered closer of ITCL operation and directed it to surrender all its moveable and immovable property to the Sonali Bank within two days for illegal banking operation.

Barrister Rafiqul Haq and advocate Hsasn Arif moved the writ on behalf of ITCL