Ex EXIM Bank MD Feroz arrested

The Anti-Corruption Commission (ACC) has arrested former Managing Director (MD) of EXIM Bank, Mohammad Feroz Hossain, in connection with a case over large-scale embezzlement and money laundering.

He was arrested around 12:30pm on Thursday in the Segunbagicha area of the capital, ACC Director General Md Akhter Hossain confirmed.

He said a team led by ACC Assistant Director Shahjahan Miraz conducted the operation. After the arrest, Feroz Hossain was sent to jail through the court.

Earlier on August 17, the ACC filed a case against 21 individuals, including former Chairman Nazrul Islam Majumder and former MD Feroz Hossain, over the embezzlement and laundering of Tk 857.93 crore from EXIM Bank.

According to the case statement, during his tenure as Managing Director, Feroz Hossain recommended board approval of branch loan proposals without proper verification. As Chairman of the Investment Risk Management Committee, he also played a role in approving the loans concerned.