The Anti-Corruption Commission (ACC) has summoned top officials of Eastern Bank PLC (EBL) for questioning as part of an investigation into allegations of obtaining large loans from various banks through irregularities and fraud, embezzling funds and siphoning money abroad.

The ACC’s investigation has uncovered information suggesting irregularities in obtaining loans of around Tk 430 million from Eastern Bank in the name of Chattogram-based exporter Nazmul Abedin and three companies under his control. The ACC wants to record statements from officials involved in the loan approval and disbursement process. As part of this, nine officials, including Eastern Bank Managing Director (MD) and Chief Executive Officer (CEO) Ali Reza Iftekhar, have been summoned.

According to ACC sources, separate summons notices were sent to the concerned Eastern Bank officials on August 31 by the ACC’s Integrated District Office, Chattogram-2. A two-member team led by ACC Deputy Director Md Riaz Uddin is investigating the allegations.

According to the notices, four bank officials have been asked to appear at the ACC office in Chattogram today, September 7, to provide statements. They are Agrabad Branch Senior Relationship Manager Sanjoy Das, Unit Head (Asset Team-2) Ahsan Zaman Chowdhury, Area Head (Corporate Banking) Md Khurshed Ul Alam, and Senior Manager (Credit Admin) Meher Farzana.

Meanwhile, Associate Manager of the bank’s head office Moazzem Hossain Suman, Head of Corporate Risk Usman Rashed Mueen, Head of Credit Risk Management Abul Maksud, and MD and CEO Ali Reza Iftekhar have been asked to appear on September 9.

In addition, Md Fakhrul Alam, DMD-Corporate Banking at the head office, had been directed to appear on September 6. However, he reportedly did not appear before the ACC on the scheduled date.

The summons notices instructed the officials to appear at the designated time with their national identity cards and relevant documents and provide statements. The notices also stated that if anyone fails to appear and provide a statement at the scheduled time, it will be considered that they have no statement regarding the matter.

ACC Deputy Director Md Riaz Uddin of the Chattogram District Office-2 said the officials had been summoned as part of the investigation. However, he declined to comment further on the investigation.

According to sources familiar with the ACC investigation, Nazmul Abedin is the beneficial owner and managing director of A&B Outwear Limited, Norm Outfit Limited and Cold Play School Product Limited. He has been accused of obtaining large loans from various banks through fraud and irregularities. The ACC is verifying whether any portion of the loan proceeds was embezzled or siphoned abroad.

Preliminary information suggests that loans were obtained using forged documents and irregular practices, allegedly with the assistance of some bank officials. There are also allegations of irregularities in the use of the loan proceeds. Overall, the ACC is investigating allegations involving the obtaining, embezzlement and laundering abroad of around Tk 2.64 billion from various banks.

As part of the broader investigation, the alleged loan fraud involving around Tk 430 million from Eastern Bank is being examined separately. The decision to record statements from officials involved in approving and disbursing the loans is also part of the investigation.

ACC sources further said that all three companies owned by Nazmul Abedin are involved in garment export businesses based in the Chattogram Export Processing Zone (CEPZ). The companies are A&B Outwear Limited, Norm Outfit Limited and Cold Play School Product Limited. Nazmul Abedin is listed as the managing director of all three companies.

According to creditor bank records, Nazmul Abedin’s father-in-law, AKM Zahid Hossain Siddiqui, is listed as chairman of Norm Outfit Limited. His wife is also listed as a director of the company.

Case Also Filed Over NRBC Bank Loans

Allegations of irregularities involving bank loans have previously been brought against Nazmul Abedin in an ACC case. In December 2024, the ACC filed a case against 13 people, including six officials of NRB Commercial Bank, over the loan and import activities of Norm Outfit and Accessories Limited.

The case alleges that raw materials worth Tk 222,512,342 were imported under bond facilities using forged documents. It also alleges money laundering amounting to Tk 71,413,112 and assistance in the offence.

In that case, Nazmul Abedin’s wife Sohela Abedin and AKM Zahid Hossain were also named as accused. Several NRB Commercial Bank officials and former customs officials were also made accused.

The case, filed over allegations of creating and using forged documents, fraud, embezzlement and money laundering, remains an important part of the financial irregularity allegations against Nazmul Abedin.