A Dhaka court has banned former Managing Director (MD) of Rupali Bank, Obaid Ullah Al Masud, along with his wife and three children, from leaving the country over allegations of corruption.
On Wednesday (November 12), Dhaka Metropolitan Senior Special Judge Sabbir Faiz issued the order after a hearing on an application filed by the Anti-Corruption Commission (ACC).
Earlier, on October 23, the same court ordered the freezing of 38 bank accounts belonging to Obaid Ullah and his associates. According to the ACC’s petition, Obaid Ullah, during his tenure as MD of Rupali Bank, was involved in irregularities, corruption, and embezzlement of depositors’ money. It also alleged that suspicious transactions were made in his and his family members’ accounts, involving large sums of unexplained funds, which constitute offenses under Sections 4(2) and 4(3) of the Money Laundering Prevention Act, 2012.
The ACC further stated that Obaid Ullah used part of the bank’s approved loan funds for personal purposes, including paying for his son’s education abroad. As two of his children already reside in the United States, there is concern that the rest of the family might also try to leave the country. Therefore, the travel ban was imposed to ensure an unhindered investigation.