Former Managing Director of Islami Bank Bangladesh Limited (IBBL) Muhammad Monirul Maola has been arrested from his residence in Bashundhara Residential area early on Monday.
A team of DB police arrested the former top boss of IBBL. Confirming the matter, DB Joint Commissioner Mohammad Nasirul Islam said that Maola has pending cases against him.
After being taken into custody around 12:15 AM, he was brought to the DB office on Mintoo Road for further investigation. Legal procedures are currently underway, the police official said. He added that authorities are yet to disclose detailed information regarding the charges.
By the end of last year, the ACC had filed a case against 58 people, including Moula, on allegations of embezzling Tk 1092 crore from Islami Bank through loan fraud.
The board of directors of Islami Bank 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.
