Dhaka, June 23 (V7N) — The Detective Branch (DB) of Dhaka Metropolitan Police has arrested Muhammad Monirul Mawla, the former Managing Director of Islami Bank Bangladesh Limited (IBBL), in connection with a major embezzlement case filed by the Anti-Corruption Commission (ACC).

He was arrested around 12:45 am on Sunday (June 23) from a residential area in the Bhatara neighborhood of the capital. Following his arrest, Monirul Mawla was taken to the DB office on Mintu Road for further questioning.

According to the DB police, Monirul Mawla was arrested based on a corruption case lodged by the ACC. The case involves the alleged embezzlement of Tk 1,924.6 crore from Islami Bank through fraudulent loans.

The case, filed on December 19, 2024, names 58 individuals as accused, including Ahsanul Alam, son of S Alam Group owner, who was serving as the chairman of Islami Bank at the time. The complaint was lodged by ACC Deputy Director Yasin Arafat at the Integrated District Office-1 in Chattogram.

As per the case statement, the accused allegedly colluded to misappropriate the funds by securing loans in the name of Murad Enterprise through fraudulent means.

Following the collapse of the Awami League government on August 5, many top officials of Islami Bank, including board members and Deputy Managing Directors (DMDs), reportedly went into hiding. Monirul Mawla, however, initially remained active. Amid mounting pressure from within the bank, the board of directors later sent him on leave.

The arrest of Monirul Mawla marks a significant development in the ongoing investigation into financial irregularities at Islami Bank—one of the country’s largest private commercial banks. Further legal proceedings are expected in the coming days.

END/SMA/AJ