Banks to freeze accounts of Nabil Group chairman, MD

The Bangladesh Financial Intelligence Unit (BFIU) has instructed banks to freeze the accounts of Nabil Group Chairman Jahan Box Mondol, Managing Director Md Aminul Islam, and their family members.

The anti-money laundering agency also directed banks to freeze the accounts of companies owned by them.

Nabil Group is considered a close ally of the Chattogram-based S Alam Group.

According to the BFIU letter, the bank accounts will be frozen for 30 days in the first phase, and access to locker facilities will remain blocked for the same duration.

In 2022, Nabil Group, a relatively new conglomerate in the North Bengal region, secured loans amounting to Tk 6,370 crore from three Shariah-based banks—Islami Bank Bangladesh Ltd, First Security Islami Bank Ltd, and Social Islami Bank Ltd—under favourable terms.

In July, the Anti-Corruption Commission requested information from Bangladesh Bank and Islami Bank regarding 14 companies, including 11 from Nabil Group, about the alleged embezzlement of large sums of money through loan fraud.