ACC grills 5 Islami Bank officials over S Alam Group loan scandal

The Anti-Corruption Commission (ACC) interrogated five senior officials of Islami Bank Bangladesh Ltd today (25 November) as part of its investigation into allegations of loan fraud involving S Alam Group and its associates. 

The quizzing, led by ACC Deputy Director Yasir Arafat, began at 10:30am at the commission's headquarters in the capital and concluded at 2:30pm. 

However, none of the officials spoke to the media after the session.  

The officials questioned include Islami Bank's Executive Committee Chairman Prof Md Selim Uddin, directors Prof Md Sirajul Karim and Khurshid-Ul-Alam, Executive Committee Member Nazmul Hasan, and Shariah Board Member Secretary Abdus Samad.  

S Alam Group Chairman Mohammad Saiful Alam's son and former Islami Bank chairman Ahsanul Alam, Director Prof Kazi Shahidul Alam, Independent Director and Executive Committee Member Md Fasiul Alam, and Vice Chairman Tanveer Ahmed were also summoned but they did not appear.  

According to ACC sources, the officials were summoned on 11 November. 

Additionally, 17 senior officials of the Bangladesh Bank have been asked to appear before the ACC on 8 and 9 December with verified copies of their identification and passports.  

The ACC has also sought information on Islami Bank's loan monitoring activities related to accounts such as Murad Enterprise (Chaktai branch), United Super Traders (Jubilee Road branch), and Century Food Products (Khatunganj branch).  

Allegations claim that entities like Murad Enterprise, owned by Golam Sarwar Chowdhury, and others secured loans from Islami Bank worth thousands of crores of taka, which were subsequently embezzled.  

This probe follows an earlier ACC investigation launched on 21 August into money laundering allegations against S Alam.