Ex-Islami Bank chair Obayed sent to jail

 
Former Islami Bank chairman Obayed Ullah Al Masud has been sent to prison after being arrested in a Tk 1.89 billion loan fraud case linked to Agrani Bank.

The order was issued on Wednesday by Dhaka Metropolitan Sessions Judge Md. Sabbir Foyez after the Anti-Corruption Commission (ACC) produced him before the court and sought his detention. No bail petition was submitted on behalf of the accused.

ACC officials arrested Obaid Ullah from his residence in Dhanmondi.

On 28 September, the ACC filed a case against 11 individuals, including former Agrani Bank managing director Syed Abdul Hamid, Obaid Ullah, and senior officials of Nurjahan Group. They are accused of embezzling Tk 189.80 crore by fraudulently securing loans from Agrani Bank's Asadganj branch in Chattogram.

 The ACC alleges that the accused used a salaried employee, Mizanur Rahman, to obtain and withdraw the loans through deception.