The Anti-Corruption Commission has opened an investigation into former Islami Bank Bangladesh chairman Obayed Ullah Al Masud over allegations of loan fraud, conflict of interest, unethical investment, and embezzlement. The inquiry is being led by Assistant Director Md Nazmul Islam, ACC spokesperson and Deputy Director Akhtarul Islam confirmed. Before joining Islami Bank, Obayed served as managing director of two state-owned banks -- Sonali Bank and Rupali Bank. In 2019, a cash credit loan of Tk 21 million was sanctioned in favour of a company named MAS Corporation. Two unlisted firms were contracted, with payments exceeding Tk 19.5 million -- one owned by Obayed himself and the other by a former director of the bank.

Source: bd News24 October 09, 2025 12:59 UTC