Islami Bank’s ex MD Munirul Mowla arrested

Islami Bank’s former Managing Director Munirul Mowla has been arrested. A team of Detective Branch (DB) arrested him from Basundhara Residential Area around 11:45pm on Sunday.

He was later taken to DB office at Mintoo Road.

Nasirul Islam, Joint Commissioner of DB south, confirmed the Munirul’s arrest in a case filed by Anti-Corruption Commission.

S Alam Group took control of Islami Bank under the aegis of intelligence agencies on 5 January in 2017. The business conglomerate subsequently withdrew Tk 910 billion (91,000 crore) from Islami Bank in various ways, according to Bangladesh Bank.

Munirul was the MD of the bank during most of these loan sanctioned from the Bank. He was made the MD of Islami Bank due to his good rapport with S Alam.

Most of the members of Islami Bank’s board of directors and top officials went into hiding since the fall of Awami League government on 5 August. Ahsanul Alam, son of S Alam was the Chairman of the bank at that time. Munirul, however, was retained his post, only to be sent on forced leave in last April due to pressure from the bank’s officials.