https://bdnews24.com/bangladesh/d883d41cc054

The Anti-Corruption Commission, or ACC, has summoned 12 individuals, including Ahsanul Alam, former chairman of Islami Bank and son of S Alam Group Chairman Mohammad Saiful Alam, for questioning in connection with an ongoing investigation into allegations of money laundering.

They have been instructed to appear before the national graft-busters on Feb 26 and 27.

The commission is investigating allegations that S Alam Group chief and Managing Director Saiful and his family laundered $1 billion to Singapore, the British Virgin Islands, Cyprus, and other countries.

As part of the probe, ACC Deputy Director Abu Sayeed issued summons letters on Monday to Ahsanul and 11 officials from Islami Bank, telling them to appear before the commission and provide statements.

While confirming the issuance of the letters, Sayeed declined to share further details.

The individuals summoned have been asked to provide statements regarding a loan or investment of Tk 1 billion – approximately $91 million – sanctioned in favour of Monico Pharma Limited.

The ACC has also instructed them to bring their National identity cards, passports, Taxpayer identification number, or TIN, and other relevant documents.

Those summoned to appear on Feb 26 include:

• Ahsanul Alam, former chairman, Islami Bank

• Md Nazmul Huda Siraji, SVP, Dhaka Central Zone

• Dilruba Hayat, former vice president

• Md Abu Hanif, FAVP

• Shariful Islam, SPO

• Abu Sayeed Mohammad Kashem, Executive Committee member

The individuals who have been called for questioning on Feb 27 are:

• Jamal Mostafa Chowdhury, Executive Committee member

• Md Sarwar Hossain, director, Bangladesh Bank

• Md Shamsuddoha, EVP

• Mir Rahmat Ullah, EVP

• Abu Sayed Md Idris, SEVP

• Kazi Md Rezaul Karim, DMD

Earlier, on Feb 1, the ACC had interrogated Islami Bank’s Managing Director and CEO Monirul Moula along with 25 other officials on three separate dates—Feb 5, 6, and 9.

The money laundering allegations against S Alam Group chief Saiful first surfaced in August 2023, linked to suspicious fund transfers to Singapore. Although an investigation was initially launched, it stalled shortly thereafter.

ACC officials said the probe was halted following a Supreme Court order. On Aug 24, 2023, the High Court imposed a status quo on the investigation against Saiful Alam and his wife, Farzana Parveen, preventing further action by the ACC.

On Feb 5, the Appellate Division of the Supreme Court dismissed a suo moto rule issued by the High Court five months ago, which had put a hold on the money laundering investigation against S Alam Group.

Following the ruling, ACC officials confirmed that they had received a copy of the court’s order, which instructed them to continue the investigation.

In 2017, Chattogram-based business conglomerate S Alam Group took control of Islami Bank.

Later, his son Ahsanul Alam was appointed as chairman of the bank.

Over Tk 1.75 trillion was disbursed from Islami Bank under loan schemes, with the majority of these loans allegedly taken by companies linked to S Alam Group, according to Bangladesh Bank.

Following the Aug 5 political transition, allegations of financial irregularities involving S Alam Group gained renewed momentum, prompting the ACC to accelerate its inquiry.

As part of the investigation into Islami Bank’s financial scandal, the ACC has filed three cases against Ahsanul.