Staff Correspondent: Nabil Group of Industries has strongly rejected a series of allegations raised against the company during a discussion on Islami Bank Bangladesh in the National Parliament, describing the claims as “false, baseless and exaggerated.”

The industrial conglomerate has called for a transparent and impartial investigation by relevant authorities to establish the facts.

In a statement issued by the company, Nabil Group Managing Director and CEO Kbd Md Aminul Islam said that several remarks made during the parliamentary discussion do not correspond with the company’s audited financial records, banking documents and regulatory filings.

According to the statement, the allegations have created confusion among the public and harmed the reputation and business interests of the group.

The company said it has already submitted a detailed petition to the Prime Minister, while copies have also been sent to the Finance Minister, the Home Minister and the Governor of Bangladesh Bank. A request has additionally been made to the Speaker of Parliament to remove what the company described as inaccurate information from parliamentary records.

One of the key allegations concerned the opening of letters of credit (LCs) worth Tk 700 crore from Islami Bank after August 5, 2024, and the alleged non-payment of those liabilities. Nabil Group denied the claim, stating that from August 5, 2024, until the present, it opened LCs totalling Tk 7,181 crore for the import of essential consumer goods, industrial raw materials and other commercial products.

The company claimed that bills amounting to Tk 5,733 crore against those LCs have already been settled in accordance with banking regulations and international trade practices. The remaining accepted bills worth Tk 1,448 crore are being repaid regularly within their respective maturity periods. The group maintained that all transactions were conducted following banking laws and regulatory guidelines.

Responding to another allegation that its total bank liabilities had reached Tk 16,000 crore, Nabil Group said the figure was inaccurate. Citing audited financial statements, the company stated that as of June 2025, its total bank liabilities stood at Tk 5,868 crore. It further claimed that the amount had been reduced from Tk 7,864 crore in August 2024, reflecting a reduction of nearly Tk 2,000 crore within a year.

The group also rejected suggestions that company funds had been used to finance any political election campaign. It described itself as a completely apolitical business entity with no affiliation to any political party. According to the statement, there is no proven allegation of loan misappropriation, money laundering or fraud involving the group or its associated companies.

Nabil Group further asserted that its Managing Director and family members reside in Bangladesh and do not possess any illegal or undisclosed assets abroad. The company emphasised that it has never defaulted on any bank loan and that its banking relationships are based on transparency, trust and professional discipline.

Highlighting its economic contributions, the group said it has been operating in sectors including agriculture, industry, food products, transport, import-export and consumer goods for more than two decades. It claimed to employ over 25,000 people directly while supporting the livelihoods of more than 200,000 people indirectly.

The company also pointed to its social and community development initiatives, particularly in northern Bangladesh, and noted its involvement in sports sponsorship. It cited the achievements of Rajshahi Warriors in the Bangladesh Premier League and Rajshahi Stars FC in women’s football as examples of its support for sports development.

Concluding its statement, Nabil Group urged authorities to verify allegations through documentary evidence rather than assumptions or political remarks. The company said it remains committed to transparency, accountability and contributing to Bangladesh’s economic development while seeking an independent inquiry into the issues raised against it.