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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
Bank officials who opened a letter of credit (L/Cs) connected with a consignment of explosives seized at an inland port in Bangladesh are facing questions from investigators looking into apparent irregularities in arrangements for this shipment.
The seized 14.5 metric ton consignment of calcium carbide, a highly inflammable chemical that can apparently be used for making powerful bombs, was intercepted at Bhomra land port and is thought to have arrived from India.
Important clues
According to deputy inspector general of police, Abdul Aziz Sarker, one man was arrested for importing the chemical shipment without due regard to import rules and regulations, notably the requirement that importers should inform the authorities of their intention to bring calcium carbide into the country.
The police officer says the arrested man has given them some "important clues" as to the involvement of other people who might be questioned regarding the shipment.
L/C scrutiny
Abdul Aziz has told local media that he wants to question the roles of the bank officials concerned with opening the L/C connected with the shipment as well as shipping inspectors and customs officials.
According to the investigating officer in the case, Abdul Kader Beg, the authorities are already looking into why the Khulna Bazar branch of United Commercial Bank Ltd issued the L/C on 18 March 2003 for importing the chemical that can also be used for ripening fruit.
This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.