UAE branch faces scrutiny over loan and money laundering scandals

Reports and official investigations have raised allegations of financial irregularities involving Janata Bank’s UAE operations, including fraudulent letters of credit, loan irregularities and suspected money laundering.

Recent Anti-Corruption Commission (ACC) cases have linked several Janata Bank officials and Beximco Group-related individuals to alleged embezzlement and money laundering involving billions of taka. In one case, the ACC alleged that funds obtained through Janata Bank were transferred abroad through UAE-based RR Global Trading FZE.

Separate investigations have also documented the Crescent Group and AnonTex-related loan scandal involving more than Tk10,000 crore from Janata Bank.

The supplied report alleges that Janata Bank Assistant General Manager Mohammad Alamin played a key role in irregular transactions involving the bank’s UAE branches and subsequently continued working at Janata Bank’s subsidiary, Janata Capital. However, the specific allegations against Alamin could not be independently verified from the reliable public sources reviewed for this report.

The ACC has filed multiple cases over alleged financial crimes involving Janata Bank. In January 2026, the commission filed a case against Salman F Rahman and 21 others over alleged embezzlement and laundering of about Tk136.68 crore, while other cases involved substantially larger amounts.

The allegations highlight continuing concerns over financial controls, accountability and recovery of funds in the state-owned banking sector.