Ex-Islami Bank MD Monirul Moula arrested

Detectives last night arrested former managing director of Islami Bank Bangladesh Limited (IBBL) Muhammad Monirul Moula from the Dhaka's Bashundhara Residential Area in a graft case.

A team of detectives arrested him around 11:45pm as he is an accused in a case filed by Anti-Corruption Commission, Nasirul Islam, joint commissioner (south) of the Detective Branch (DB) of Dhaka Metropolitan Police, told The Daily Star.

He has been taken to the DB office on Mintoo Road for further interrogation.

By the end of last year, the ACC had filed a case against 58 people, including Moula, on allegations of embezzling Tk 109.2 crore from Islami Bank through loan fraud.

The board of directors of Islami Bank has removed Moula due to his alleged involvement in loan irregularities and mismanagement unearthed by an external audit. The bank made the decision in its 395th board meeting, held on April 6 this year, which received the go-ahead from Bangladesh Bank on May 20.

Earlier, in April, Islami Bank Bangladesh had decided to send Moula on leave for three months.

Moula was appointed as the managing director of Islami Bank in January 2021, when the controversial S Alam Group was dominating the bank's board.

Moula came under pressure after the S Alam Group lost control of Islami Bank following the ouster of the previous Awami League government in August 2024.