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Police arrested Sajjatuz Jumma, former chairman of Shahjalal Islami Bank, from a restaurant in Gulshan-2, Dhaka, on Friday afternoon.
He was detained around 4:30pm on October 16 based on court-issued arrest warrants, Gulshan Police Station Officer-in-Charge Abu Zayed Md Nazmun Nur confirmed.
According to police, Jumma was arrested in connection with a loan default case filed by First Security Islami Bank in 2014.
The case was filed over alleged default on an investment facility at the bank’s Dilkusha branch.
A court subsequently sentenced him to one year in prison and fined him Tk 3 crore in the case.
Jumma was the founding chairman of Shahjalal Islami Bank but was later removed from its board of directors over loan default allegations.
He was taken into custody following the arrest and produced before the court, according to police reports.