Bangladesh Bank on Sunday decided to appoint a receiver to oversee the affairs of Beximco Group.

The central bank’s board meeting resulted in the appointment of its executive director Ruhul Amin as the receiver for the group of companies.

The decision came after the Appellate Division of the Supreme Court asked the Bangladesh Bank governor to appoint a receiver to the Group and attach the Group’s all properties, including those linked to detained Beximco Group vice-chairman Salman F Rahman.

The HC on September 5 also ordered the central bank to recover the money obtained by Salman F Rahman, former industries adviser to ousted prime minister Sheikh Hasina, from various banks and bring the money back to Bangladesh from abroad and also issued a rule to this effect.

According to Investopedia, a receiver is a person appointed as custodian of a person or entity’s property, finances, general assets, or business operations. Receivers can be appointed by courts, government regulators or private entities.

The Anti-Corruption Commission has decided to launch an investigation into Salman F Rahman over various allegations, including Tk 36,000 crore laundering abroad by taking loans from banks, embezzlement, illegally amassing wealth, share market fraud and others.