Court Freezes 38 Bank Accounts of Former Islami Bank Chairman

A Dhaka court has ordered the freezing of 38 bank accounts belonging to Md Obayed Ullah Al Masud, the former chairman of Islami Bank Bangladesh PLC.

The order was passed by Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz based on a plea from the Anti-Corruption Commission (ACC).

The Anti-Corruption Commission is investigating Masud, who also served as former managing director of Rupali Bank PLC and Sonali Bank PLC, following allegations received from the Bangladesh Financial Intelligence Unit (BFIU). The allegations involve the embezzlement of money from banks through corruption and irregularities, as well as suspicious transactions.

The Anti-Corruption Commission argued that these funds and transactions raised "reasonable grounds to suspect elements of money laundering," making the account freeze essential for the probe.