On 6th November, Mohammad Firoz Hossain, former Managing Director and CEO of Exim Bank, was arrested by the Anti-Corruption Commission (ACC) in connection with an embezzlement case involving 857 crore taka. However, despite being an accused in the same case, Maksuda Khanam, the Deputy Managing Director of the bank, continues to work regularly at her office.

Upon further investigation, details have emerged about Maksuda Khanam’s involvement in a series of questionable financial dealings. Known as “Mili,” she was closely associated with Nazrul Islam Majumdar, the chairman of NASA Group. Through her connections, Nazrul and his affiliates are believed to have taken loans amounting to over 4,000 crore taka, both under her name and others.

Loans and Allegations
Reliable sources indicate that Maksuda Khanam, while serving as the branch manager of Exim Bank’s Gulshan branch at Delta Life Tower, facilitated these loans. Among the significant loans were:

130 crore taka and 170 crore taka to two MDs of NASA Group, Saiful and Ranjan, respectively
450 crore taka to a former MP from Bogura
212 crore taka to another associate of Nazrul, named Saeed
600 crore taka loan for Nazrul’s daughter Anika and her husband

The largest loan was taken by Major (Retd.) Afsar, the former president of Rawa Club, amounting to 2,500 crore taka. After Major Afsar’s sudden death two years ago, the loan became publicly known. Afsar’s eldest son claimed they had no knowledge of this loan, suggesting it was taken for the benefit of Nazrul Islam Majumdar.

Promotion and Rewards
In recognition of her role in facilitating these loans, Maksuda Khanam was appointed as the Deputy Managing Director of Exim Bank on 5th January 2022, an apparent reward from Nazrul Islam Majumdar. In addition to this position, she is alleged to have received a flat in Gulshan, which was reportedly purchased with the loaned money. The current market value of this flat is approximately 8 crore taka, although Maksuda Khanam denied its existence, stating she resides in a flat in Kolabagan purchased with her own funds.

When approached for comment on these allegations, Maksuda Khanam initially avoided responding, saying she would speak later. After the report was published online, she contacted the reporters, admitting that the loans were given through four different branches, including the Gulshan branch where she was responsible.

Despite being an accused in the 857 crore taka embezzlement case, Maksuda Khanam continues to work regularly at her post. When questioned about this, she stated that all those accused in the case are still working at their respective offices.

Career Background
Maksuda Khanam began her career in 1995 as a probationary officer at National Bank. In 1999, she joined Exim Bank as a Principal Officer. Thanks to the favour of the bank’s former chairman, Nazrul Islam Majumdar, she quickly rose through the ranks and became the manager of the Gulshan branch. She later served as the regional head for the Dhaka South area.