Will repay all money if granted bail, won’t run away, ex-Exim Bank chair Nazrul tells court
The prosecution strongly opposed the petition, prompting the judge to respond, “Repay the money from jail. Be patient. You will get bail”
Nazrul Islam Majumder, chairman of Nassa Group and former chairman of Exim Bank, has appealed to the court for bail, assuring he would repay all outstanding funds and emphasising that he has no intention of fleeing.
During a bail hearing today (22 July) at the Dhaka Metropolitan Sessions Judge Court, Majumder made a direct appeal from the dock, assuring the court he would repay all outstanding funds if granted bail.
"Please allow me to work. I will not flee," he said, adding that continued detention would jeopardise thousands of jobs, as his company, which he began in 1990 with Tk10 lakh and later grew into a Tk30,000 crore enterprise employing nearly 3,00,000 people, is now operating with severely limited capacity.
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Majumder also expressed his lack of awareness regarding the specifics of the Anti-Corruption Commission's (ACC) accusations, suggesting that others within his organisation may have been involved. "My sons live in London. There is no one to run the business in my absence," he added.
The prosecution strongly opposed the petition, prompting the judge to respond, "Repay the money from jail. Be patient. You will get bail." Ultimately, the court denied the bail request.
The ACC filed the case on 16 February 2025, accusing Majumder of embezzlement, abuse of power, amassing illegal wealth, and laundering Tk781.31 crore. The case was lodged by ACC Assistant Director Mohammad Shahjahan Miraj.
Majumder was arrested by the Detective Branch of Dhaka Metropolitan Police on the night of 1 October 2024. He has remained in custody since then.
