The Anti-Corruption Commission (ACC) has arrested former chairman of Islami Bank Obayed Ullah Al Masud from his residence in Dhaka’s Dhanmondi area.
He has been produced before the Dhaka CMM court.
Masud had resigned from his position as the chairman of Islami Bank Bangladesh in July this year, after serving for eleven months.
Prior to this, he had held senior positions at several financial institutions, including Rupali Bank and Agrani Bank.
The ACC initiated an investigation on 9 October into allegations of loan fraud, conflict of interest, unethical investments, and embezzlement against Masud.
