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NASA Group Chairman Nazrul Islam Arrested in Dhaka
Chairman of NASA Group Nazrul Islam Mazumder
Nazrul Islam Mazumder, the chairman of NASA Group and former president of the Bangladesh Association of Banks (BAB), was arrested by police in Dhaka on Tuesday night. The arrest was confirmed by Rezaul Karim Mallick, additional commissioner of the Dhaka Metropolitan Police's Detective Branch.
According to Mallick, Nazrul Islam faces multiple allegations, prompting law enforcement action based on specific intelligence information. He was taken into custody in Gulshan, a prominent area of the capital.
Nazrul, who also served as chairman of Exim Bank for several years, led the BAB for nearly 17 years under the Awami League government, which has been in power since 2008. His tenure came to an abrupt end following the political upheaval that led to the ousting of the Awami League-led government in early August.
In a subsequent move, the central bank removed both Nazrul Islam and his wife, Nasreen Islam, from Exim Bank's board on August 29. This decision followed an earlier directive from the Bangladesh Financial Intelligence Unit (BFIU) on August 25, which ordered all banks to freeze the accounts of Nazrul and Nasreen amid ongoing investigations.
The circumstances surrounding his arrest and the nature of the allegations against him remain unclear, but they highlight growing scrutiny of individuals connected to the banking sector in Bangladesh during this politically volatile period. As investigations continue, the situation is being closely monitored by both the financial community and the public.