Ex-Janata Bank Chairman Abul Barakat grants bail

The Appellate Division of the Supreme Court on Monday (June 8) granted bail to Professor Dr. Abul Barakat, former chairman of state-owned Janata Bank, in a corruption case filed by the Anti-Corruption Commission (ACC), clearing the last legal hurdle to his release from custody.

His lawyers confirmed that no further legal impediment to his freedom remains following the court's order. However, the Appellate Division attached a condition — Barakat must surrender his passport to the court.

The ACC filed the case on February 20 last year, naming Barakat and 22 others as accused. He faces allegations of irregularly sanctioning loans to Ennotes Group and embezzling Tk 297 crore during his tenure as Janata Bank chairman.

Following the case filing, law enforcement arrested him from the Dhanmondi area of the capital on July 10 last year. He had remained in custody since.

A prominent economist, Professor Barakat served as Chairman of the Economics Department at the University of Dhaka and as President of the Bangladesh Economic Association for an extended period. He was appointed Chairman of Janata Bank during the tenure of the previous Awami League government.

With Monday's Appellate Division order, Barakat is set to walk free subject to fulfilling the passport surrender condition, bringing to a close nearly 11 months of detention.