Nabil Group of Industries has challenged a number of statements made about the company during discussions on Islami Bank Bangladesh PLC at the National Parliament’s budget session, claiming that several allegations and figures presented in the House do not correspond with its audited financial statements, banking records, and information available with relevant regulatory authorities.
In this regard, Nabil Group Managing Director and Chief Executive Officer Agriculturist Md. Aminul Islam submitted an application to the Prime Minister on Tuesday. Copies of the application were also sent to the Finance Minister, the Home Minister, and the Governor of Bangladesh Bank. The company has additionally requested the Speaker of Parliament to remove what it described as inaccurate information regarding Nabil Group from the parliamentary proceedings.
According to the application, remarks made in Parliament suggesting that the group availed itself of Tk 700 crore in letters of credit (LCs) from Islami Bank after August 5, 2024, without making payments do not reflect the actual banking records. The company stated that between August 5, 2024 and the present, it opened LCs worth Tk 7,181 crore for the import of essential consumer goods, industrial raw materials, and other trading products.
The company said that bills amounting to Tk 5,733 crore against those LCs have already been settled in accordance with international trade and banking practices. The remaining Tk 1,448 crore in sight and accepted bills are being paid according to their respective due dates, it added.
Nabil Group also disputed claims that its total banking liabilities amount to Tk 16,000 crore. Citing audited financial reports, the company said its total banking liabilities stood at Tk 5,868 crore as of June 2025, compared with Tk 7,864 crore in August 2024. The company stated that it had reduced its banking liabilities by more than Tk 2,000 crore within a year and maintained that it has never defaulted on any bank loan. It further said that all banking activities are being conducted in compliance with Bangladesh Bank regulations and prevailing banking rules.
The group also rejected suggestions that its funds were used to finance the election campaign of any political party. It stated that Nabil Group is a business enterprise with no affiliation to any political organization.
According to the application, neither Nabil Group nor any of its affiliated entities has been found guilty of loan embezzlement, money laundering, or financial fraud. The company further stated that its Managing Director and family members continue to reside in Bangladesh and do not possess any undisclosed or illegal assets abroad.
Nabil Group noted that it has been operating in the agriculture, industry, food products, transportation, import-export, and consumer goods sectors for more than two decades. Referring to data from the National Board of Revenue, the company said it has remained among the country’s top five importers of consumer goods for two consecutive years. Its total imports during the 2023–24 fiscal year amounted to USD 1.21 billion.
The company stated that it directly employs more than 25,000 people, while more than 200,000 individuals are indirectly dependent on its operations. It added that approximately 80 percent of its investments are concentrated in northern Bangladesh.
Nabil Group further said that following the political changes of August 2024, its executives, family members, and relatives have continued to live in Bangladesh. According to the company, the Managing Director, his spouse, children, and parents reside in Rajshahi, where the children also pursue their education.
The application also highlighted the group’s social initiatives, stating that more than 1,500 widowed and underprivileged women have been employed at its industrial park. The company said it continues to support various social welfare activities and employment-generation programs.
In the sports sector, Nabil Group noted that Rajshahi Warriors, owned by the group, won the Bangladesh Premier Cricket League title this year, while Rajshahi Stars FC secured the Bangladesh Women’s Premier Football League championship. The company also stated that Rajshahi Stars FC is set to participate in the AFC Women’s Club competition.
In its application, Nabil Group argued that allegations against any individual or institution should be assessed on the basis of verifiable information, documents, and evidence. It stated that unverified claims made in parliamentary discussions could affect not only the concerned institution but also the broader business and investment environment.
The company has therefore called for an inquiry by Bangladesh Bank or another independent authority to examine the matter on the basis of documented facts and records. Nabil Group also reaffirmed its commitment to continuing its business operations and contributing to the country’s economic activities.