The Anti-Corruption Commission has requested information from Bangladesh Bank and Islami Bank about 14 companies implicated in alleged embezzlement of large sums from Islami Bank through loan fraud. The companies include 11 from Nabil Group, such as Nabil Naba Foods Ltd and Nabil Feed Mills Ltd. ACC’s letters were sent recently, seeking responses within seven working days. The investigation focuses on loans approved by Islami Bank branches in Gulshan, Rajshahi, and Pabna. Bangladesh Bank found discrepancies, noting that loans totaling Tk 950 crore were approved for Nabil Grain Crops Ltd without sufficient collateral, as per its internal risk rating system. Additionally, IBBL’s Rajshahi branch approved Tk 3,100 crore loans to Nabil Group, potentially exceeding single borrower limits. The ACC committee is investigating these allegations, initially flagged in a November 2023 inquiry. Bangladesh Bank is conducting inspections, awaiting completion to submit a detailed report.
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