Police yesterday arrested Prof Shibli Rubayat-Ul Islam, the former chairman of the Bangladesh Securities and Exchange Commission (BSEC).

He was arrested around 10:30 from Dhanmondi in connection with a case filed by the Anti-Corruption Commission (ACC), said Rezaul Karim Mallick, additional commissioner of the Detective Branch of the Dhaka Metropolitan Police, while speaking to The Daily Star.

Shibli, a faculty member of Dhaka University, resigned from his position on August 10 last year, just five days after the fall of Sheikh Hasina's government in a mass uprising.

He was initially appointed as the chairman of the BSEC in 2020 and was reappointed for a four-year term in May last year.

This latest development follows the government's decision last week to cancel the passports of nine individuals, including Shibli Rubayat-Ul Islam.

In early September last year, the ACC launched a formal inquiry into allegations of corruption against Shibli, accusing Shibli and eight former and present BSEC officials of amassing approximately Tk 1,000 crore worth of wealth through the abuse of power.