ACC investigates large-scale loan fraud at islami bank

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ACC investigates large-scale loan fraud at islami bank

B Mirror Report: The Anti-Corruption Commission (ACC) has launched an investigation into allegations that nearly Tk 2,000 crore was embezzled from Islami Bank Bangladesh Limited through fraudulent loans and later laundered to Singapore.

According to officials, the alleged fraud involved the creation of fake documents and abuse of power to approve large-scale loans. The ACC suspects that a syndicate inside the bank facilitated the scheme using forged export bills and other falsified records.

An ACC team led by Deputy Director Mominul Islam is currently conducting the inquiry. Authorities have already sought relevant documents, along with National ID cards, passports, and asset declarations of officials linked to the case.

A senior ACC official confirmed the development to media.

The investigation has named several senior bank officials, including JQM Habibullah, Akij Uddin Md. Sabbir, Miftah Uddin Kazi, Md. Rezaul Karim, Abdullah Al Mamun, Taher Ahmed Chowdhury, Nazrul Islam, and Abu Noman Mohammad Shamsuddin, among others.

Allegations suggest that the syndicate approved large volumes of loans using fake export documents and later received substantial commissions. The funds were reportedly laundered abroad, with assets allegedly acquired in cities including Dhaka, Chattogram, Canada, London, Dubai, and Thailand.

The ACC said the investigation is ongoing and further action will be taken based on evidence.

 

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