Sajjatuz Jumma, former chairman of Shahjalal Islami Bank, was arrested on Saturday by Gulshan police over his defaulted loan of Tk 41 crore with First Security Islami Bank (FSIB). He was subsequently produced before court, which remanded him into jail custody.
According to FSIB, Jumma had taken loans from the bank’s Dilkusha branch but failed to repay. In response, the bank filed a case against him under the Negotiable Instruments (NI) Act on 27 April 2014. A Dhaka court had earlier sentenced him to one year in jail and imposed a fine of Tk 3 crore for loan default. Despite the court’s verdict, Jumma had remained at large for several years.
His arrest marks a crucial step in enforcing the court’s decision, FSIB said in a press release. The bank also mentioned that Sajjatuz Jumma, who had also been the chairman of Desh Landmark Ltd, had long been considered a significant defaulter. His defaulted loan had placed a considerable burden on FSIB’s balance sheet.
Following his detention, Gulshan police handed him over to the court, which ordered his imprisonment. FSIB officials expressed hope that this move would send a strong message to habitual defaulters and aid in recovering stuck loans in the banking sector.
