Thursday, 18 September, 2025
The Anti-Corruption Commission (ACC) has filed a major corruption case against 43 individuals — including S. Alam Group owner Saiful Alam, Nabil Group Managing Director Aminul Islam, and a former chairman of Islami Bank — over the alleged embezzlement of Tk 363 crore from Islami Bank’s Gulshan branch through a shell company.
ACC Director General Md Akhter Hossain confirmed that the case was lodged Wednesday at the ACC’s Integrated District Office, Dhaka-1.
According to the case statement, the accused conspired to abuse their positions, falsify documents, and irregularly approve a loan facility worth Tk 670 crore in favour of the newly-formed Naba Agro Trade International. Of this amount, Tk 363 crore was disbursed and later siphoned off, investigators allege.
Those named in the case include Saiful Alam of S. Alam Group, Aminul Islam of Nabil Group, Mamunur Rashid (Managing Director of Naba Agro Trade International), Harunur Rashid (Chairman of the same company), and several directors of affiliated trading and milling companies.
The case marks a significant escalation in the ACC’s scrutiny of alleged large-scale loan scams involving Islami Bank and its connected business groups.
A large number of Islami Bank officials, including former top executives, board members, and branch managers, have also been implicated. Among them are former Board Chairman Prof. Md Nazmul Hassan, former Executive Committee Chairman Prof. Dr. Md Selim Uddin, ex-MD Mohammad Munirul Haque, CEO Mohammad Ali, and several former deputy managing directors, SEVPs, and branch managers.
The case has been filed under sections 409/460/60/7/498/40/477/7/106 of the Penal Code 1860, section 5(2) of the Prevention of Corruption Act 1947, and sections 4(2) and 5(3) of the Money Laundering Prevention Act 2012.
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The Anti-Corruption Commission (ACC) has filed a major corruption case against 43 individuals — including S. Alam Group owner Saiful Alam, Nabil Group Managing Director Aminul Islam, and a former chairman of Islami Bank — over the alleged embezzlement of Tk 363 crore from Islami Bank’s Gulshan branch through a shell company.
ACC Director General Md Akhter Hossain confirmed that the case was lodged Wednesday at the ACC’s Integrated District Office, Dhaka-1.
According to the case statement, the accused conspired to abuse their positions, falsify documents, and irregularly approve a loan facility worth Tk 670 crore in favour of the newly-formed Naba Agro Trade International. Of this amount, Tk 363 crore was disbursed and later siphoned off, investigators allege.
Those named in the case include Saiful Alam of S. Alam Group, Aminul Islam of Nabil Group, Mamunur Rashid (Managing Director of Naba Agro Trade International), Harunur Rashid (Chairman of the same company), and several directors of affiliated trading and milling companies.
The case marks a significant escalation in the ACC’s scrutiny of alleged large-scale loan scams involving Islami Bank and its connected business groups.
A large number of Islami Bank officials, including former top executives, board members, and branch managers, have also been implicated. Among them are former Board Chairman Prof. Md Nazmul Hassan, former Executive Committee Chairman Prof. Dr. Md Selim Uddin, ex-MD Mohammad Munirul Haque, CEO Mohammad Ali, and several former deputy managing directors, SEVPs, and branch managers.
The case has been filed under sections 409/460/60/7/498/40/477/7/106 of the Penal Code 1860, section 5(2) of the Prevention of Corruption Act 1947, and sections 4(2) and 5(3) of the Money Laundering Prevention Act 2012.
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