The bench of Justice Jahangir Hossain Selim passed the order after holding a virtual hearing on a petition filed by Rashid on Monday.
In its order, the court said Rashid's lawyers may move a regular bench with the petition.
Advocate Mesbaul Islam stood for the suspended DIG while Attorney General Mahbubey Alam and Deputy Attorney General Dr Bashir Ullah opposed the bail petition.
On January 29, the bench of Justice Md Nazrul Islam Talukder and Justice KM Hafizul Alam denied his bail petition.
ACC arrested Rashid on October 20 last on charge of accumulating money illegally.
Also read: Suspended DIG prisons Bazlur denied bail in graft case
According to case statement, the suspended DIG failed to show any legal source of Tk 3.8 crore which he spent for buying a flat in a housing project at Siddheswari Road in the capital.