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The Anti-Corruption Commission (ACC) has filed a case against Md Nurul Islam, chairman of the Noman Group, accusing him of possessing wealth worth nearly Tk 190 million beyond his declared income, reports bdnews24.com.
The case was lodged on Monday at the ACC’s Integrated District Office, Dhaka-1, by Assistant Director Mohammad Shahjahan Miraj, according to officials.
The anti-graft agency said Nurul Islam holds partial ownership of a property in Dhaka’s Gulshan residential area and seven plots in the Purbachal New Town housing project, valued at over Tk 234 million.
He is also alleged to own moveable assets, including shares worth Tk 830 million in Dutch-Bangla Bank and a further Tk 2.5 billion in Noman Group companies. Together, his immovable and moveable assets amount to approximately Tk 6.22 billion.
According to his 2024-25 tax return, Nurul declared liabilities of only Tk 340,000, leaving net assets of Tk 6.218 billion. By comparison, his declared net wealth in the 2016–17 tax year stood at Tk 4.5 billion.
Between 2016-17 and 2024-25, his total recognised income amounted to Tk 6.77 billion, of which Tk 2.45 billion was spent on family and other expenses, leaving Tk 4.32 billion as legitimate savings and earnings.
The ACC argues this leaves an unexplained surplus of Tk 1.897 billion, wealth it deems disproportionate to his known sources of income.
In its filing, the ACC said: “These assets were unlawfully acquired and retained under his control, constituting a punishable offence under Section 27(1) of the Anti-Corruption Commission Act, 2004. The investigation may also uncover the involvement of others in acquiring these illegal assets.”
Noman Group is one of Bangladesh’s largest industrial conglomerates, with businesses spanning textiles, home furnishings, and other sectors.
Efforts to reach Nurul Islam for comment were unsuccessful at the time of publication.