Exim Bank ex-chairman denied bail in Tk857 crore embezzlement case

A Dhaka court on Thursday denied the bail petition of former Chairman of Exim Bank Nazrul Islam Mazumder in a case filed by the Anti-Corruption Commission (ACC) over the alleged embezzlement of Tk857 crore.

Dhaka Metropolitan Senior Special Judge Md Shahjahan Kabir passed the order, ACC Prosecutor Tarikul Islam said.

Earlier in the day, defence lawyers, including Advocate Kamrul Islam, appeared on behalf of Nazrul Islam and sought bail, while the ACC prosecutor opposed the plea. After hearing both sides, the court denied the bail petition.

Earlier, on 18 August last year, ACC Assistant Director Shahjahan Miraj of the ACC's Integrated District Office, Dhaka-1, filed the case against 21 people, including Nazrul Islam and his wife Nasrin Islam.

According to the ACC, Nazrul Islam Mazumder allegedly abused his power to approve an illegal loan in the name of Madina Dates and Nuts and embezzled Tk857.93 crore.

The accused have been charged under various sections of the Penal Code, the Prevention of Corruption Act, and the Money Laundering Prevention Act.

Nazrul Islam was arrested on 1 October 2024 from Gulshan area in the capital and has remained in jail since then.