Bangladesh police have arrested Atiar Rahman Dipu, managing director of M/s Sasko Tex (BD) Limited, along with his wife and director of the company, Papia Rahman, in connection with defaulted loans at Al-Arafah Islami Bank PLC. The couple was apprehended on Saturday night at approximately 11:45 pm from their residence in the Mirpur Pallabi DOHS area of Dhaka.
On Sunday, they were produced before a court, where the magistrate denied their bail applications and ordered that they be sent to jail.
According to the bank, Sasko Tex (BD) Limited owes approximately BDT 1.64 billion (164 crore) in defaulted loans to the Uttara Model Town branch of Al-Arafah Islami Bank. Legal proceedings against the couple had been ongoing for some time, with the bank filing ten separate cases against them. The court had earlier sentenced them to terms ranging from one year to eight years in eight criminal cases and imposed three to six months’ sentences in the remaining two cases, bringing their total sentence to eight years and six months.
In addition, a cheque-related case resulted in a fine equivalent to BDT 800 million (80 crore), reflecting the amount involved in the disputed cheques.
The arrest ended a long period during which the couple had been absconding. Banani Police took action to apprehend them after careful investigation. Legal experts say the arrest and court proceedings demonstrate the judiciary’s firm stance on financial fraud and loan defaults. The case is expected to serve as a precedent for holding high-profile defaulters accountable and reinforcing the importance of compliance in Bangladesh’s banking sector.
