Tk 7.05B Default: Ex-NRBC Chair Adnan Imam Barred from Travel, Share Dealings

A Dhaka Money Loan Court has issued a significant order against Mohammad Adnan Imam, the former Executive Committee Chairman of NRBC Bank, in connection with a defaulted loan amounting to Tk 705 crore (Tk 7.05 billion).

On Thursday, 24 July, Judge Mujahidur Rahman of Money Loan Court-5 passed the order prohibiting Adnan Imam from both transferring his shares and leaving the country. The court's ruling follows legal proceedings over one of the largest loan default cases in recent times.

Key Legal Actions Against Adnan Imam

In addition to the loan default case, multiple serious allegations have surfaced against Adnan Imam:

• Stock Market Manipulation: He is accused of engaging in irregular practices affecting market dynamics.
• Misappropriation via Loans: Allegedly took out loans using real and fictitious names, then embezzled the funds.
• Frozen Bank Accounts: The Bangladesh Financial Intelligence Unit (BFIU) froze his bank accounts in November 2022 as part of an ongoing financial investigation.

Adnan Imam was inducted into the Board of Directors of NRBC Bank in 2017, after the bank’s board was restructured. He recently resigned from his directorial role.

Despite the controversies, Adnan Imam continues to serve as the Chairman of Genex Infosys, a company publicly listed on the Dhaka Stock Exchange.

This latest legal move represents a critical step in the country's growing effort to curb large-scale financial fraud and bring influential defaulters under accountability