[🇧🇩] Corruption Watch

[Saif]

Financial scams and way forward

IN RECENT years, financial scams have alarmingly surged in Bangladesh, targeting people from all socio-economic backgrounds. These fraudulent schemes impact individual victims and...

www.newagebd.net

Financial scams and way forward
by Mohammad Shahidul Islam 23 October, 2024, 00:00

New Age/Mehedi Haque

IN RECENT years, financial scams have alarmingly surged in Bangladesh, targeting people from all socio-economic backgrounds. These fraudulent schemes impact individual victims and cast a shadow on the broader economy by eroding trust in financial institutions, appropriating resources, and shaking public confidence in the regulatory system. As scammers exploit cultural, psychological, and systemic vulnerabilities, an urgent and comprehensive approach is imperative to combat these issues effectively.

One of the primary reasons scams became rampant in Bangladesh is the societal obsession with quick financial success. In the local culture, economic status is closely linked to social standing. This cultural obsession with wealth drives many individuals to seek rapid financial gains, often without fully understanding the risks involved. In a country with limited socio-economic mobility, the desire to improve one’s economic position makes people prey to get-rich-quick schemes that promise unrealistic returns.

The cases of companies such as Destiny 2000 and Evaly are striking examples of how scams manipulate this cultural mindset. Both companies lured customers and investors with promises of high returns on investments. However, these were unsustainable business models based on Ponzi schemes. Evaly, for instance, attracted thousands of customers by offering heavily discounted products and promising quick delivery. However, many people soon realised that their money had disappeared, along with the company. Despite the education or background of the individuals involved, the allure of quick wealth closed their eyes to the risks.

To counter this, society must shift its focus from glorifying rapid financial success. Promoting financial literacy can be a powerful tool in reducing people’s susceptibility to scams. Education systems should integrate financial literacy programmes, starting early, to empower individuals to grasp the significance of making informed financial decisions. By teaching people to identify warning signs — such as unrealistic returns, pressure to invest quickly, or lack of transparency — individuals can take charge of their financial security and shield themselves from falling prey to fraud.

Another factor contributing to the prevalence of scams in Bangladesh is the widespread mistrust of formal financial institutions. This distrust, particularly among rural populations and lower-income groups, stems from historical corruption scandals and inefficiencies within the banking sector. Many individuals perceive formal financial institutions as unreliable or inaccessible, leading them to alternative financial schemes that promise better returns. Unfortunately, these alternative schemes often turn out to be fraudulent.

Rebuilding public trust in formal financial institutions is a pivotal step in reducing the allure of scams. The government, banks, and other financial organisations must strive to restore confidence by operating with utmost transparency and efficiency. Financial institutions should engage directly with communities, mainly rural areas, to provide greater access to reliable and user-friendly banking services. One potential solution is for banks to develop outreach programmes to educate the public about safe investment practices and elucidate the benefits of regulated financial services. By enhancing the accessibility and reliability of these institutions, fewer individuals will be enticed to participate in risky, unregulated schemes, fostering a sense of security in the public.

Cognitive biases also play a significant role in the persistence of scams. Human decision-making is often influenced by biases such as confirmation bias and optimism bias. Confirmation bias leads individuals to seek information that supports their beliefs while ignoring contradictory evidence. For example, someone invested in a dubious scheme may focus on success stories shared by other investors and downplay the risks, even in the face of warning signs. Similarly, optimism bias causes individuals to believe they are less likely than others to fall victim to fraud, assuming they have the foresight to avoid such traps.

Scammers exploit these psychological tendencies by crafting sophisticated marketing campaigns that appeal to emotions. They often present themselves as legitimate businesses, using flashy offices, celebrity endorsements, and social media influencers to build a façade of credibility. This carefully crafted image creates a ‘herd mentality,’ where people feel reassured by the participation of others and become more willing to invest without fully understanding the risks. Evaly is a recent example of this phenomenon. By leveraging social media marketing and celebrity partnerships, the company created a false sense of legitimacy that lured thousands of customers into its fraudulent scheme.

Public awareness campaigns are essential to combat the psychological manipulation used by scammers. These campaigns should educate people about common cognitive biases and how they can make individuals vulnerable to scams. In addition, the government could collaborate with psychologists and marketing experts to develop educational materials that help people recognise the emotional triggers used in fraudulent schemes.

In today’s digital age, scammers increasingly use technology to reach a wider audience. Social media platforms, mobile apps, and online advertisements provide scammers with an inexpensive and efficient way to promote their schemes to millions. The anonymity offered by these platforms makes it difficult for authorities to trace the perpetrators, allowing scams to spread rapidly before they can be detected.

The government should work closely with social media companies and digital platforms to address this issue and establish more robust safeguards against digital fraud. Platforms like Facebook, Instagram, and YouTube must implement more robust screening processes for advertisers, ensuring that fraudulent businesses are flagged and removed before they can reach a large audience. Additionally, technological solutions such as artificial intelligence and machine learning can be employed to detect suspicious patterns in online activity, enabling faster intervention.

The government could also introduce a streamlined reporting system that allows citizens to report potential scams easily. This system could include a mobile app or a hotline where individuals can anonymously submit information about fraudulent activities. Such an initiative would provide authorities with real-time data, enabling them to act more swiftly to prevent the spread of scams and underscore the general public’s collective responsibility in combating fraud.

One significant reason scams can thrive in Bangladesh is the systemic weakness in regulation and governance. Agencies such as the Anti-Corruption Commission and the Bangladesh Financial Intelligence Unit are responsible for combating financial fraud. However, these agencies often operate reactively, only intervening after a scam has defrauded thousands of people. By this time, scammers have frequently disappeared or moved their assets beyond the reach of the law, making it difficult to recover losses or bring them to justice.

It is essential to shift from a reactive to a proactive approach to strengthen regulatory efforts. Regulatory bodies must be empowered with the resources and authority to monitor and investigate potential scams before they escalate. This could involve creating specialised task forces dedicated to identifying and addressing emerging threats in the financial and digital landscapes. The legal system also needs reform. Introducing fast-track courts for scam-related cases could ensure justice is delivered more efficiently. Additionally, laws governing financial crimes must be updated to account for the rapidly evolving nature of digital fraud. For example, regulations should require greater transparency and accountability from companies that solicit investments through online platforms.

Combating scams in Bangladesh requires a coordinated, multi-dimensional approach that addresses the cultural, psychological, and systemic factors enabling them to thrive. First, financial literacy programs must be implemented to help individuals recognise and avoid fraudulent schemes. Second, public trust in formal financial institutions must be rebuilt through transparent and community-oriented engagement. Third, awareness campaigns must educate citizens about scammers’ psychological manipulation techniques. Fourth, technological solutions should be leveraged to detect and prevent digital fraud. Finally, regulatory and legal reforms are necessary to ensure that scams are detected early and dealt with swiftly. By working together — across government, financial institutions, technology platforms, and educational systems —Bangladesh can create a safer financial environment that empowers its citizens to make informed decisions and protects them from falling victim to scams.

Dr Mohammad Shahidul Islam is an assistant professor of marketing at the BRAC University.​

 

[Saif]

Pledges to fight corruption

The pledge the interim government's adviser to the youth, sports, labour and employment ministry made the other day at an event organised by a consumer rights body saying that corrupt businesses would be brought to justice is no doubt reassuring. But corruption is something that is inherent in the

thefinancialexpress.com.bd

Pledges to fight corruption
SYED FATTAHUL ALIM
Published :
Oct 27, 2024 22:00
Updated :
Oct 27, 2024 22:00

The pledge the interim government's adviser to the youth, sports, labour and employment ministry made the other day at an event organised by a consumer rights body saying that corrupt businesses would be brought to justice is no doubt reassuring. But corruption is something that is inherent in the social activity called business. Only when corruption crosses the threshold of acceptability, the common people react. That is exactly what happened during the past regime. What is worse, the businesses close to the upper echelons of state power were given the carte blanche to do whatever they willed, even to loot. Some big business groups fell in this category of crony capitalists or oligarchs who literally bled the economy dry.

Under normal circumstances where there is some semblance of law and justice, executives or owners of big or small corporate companies involved in corruption and various types of financial crimes are held to account. But if those at the helm are law unto themselves and the corporate groups enjoy political patronage from the top, then that is the recipe for looting a nation by such crony capitalists or oligarchs. What Bangladesh witnessed for the last one and a half decades is a classic example of plundering the state exchequer jointly by the ruling party and big corporate groups under the tutelage of the government. However, the August 5's political changeover seems to have put a stop to such despoiling of a nation of its riches by homegrown marauders.The young labour and employment adviser fresh out of the ranks of the students leadership that with the support of the masses put an end to the past regime, is obviously committed to the cause of a radical reform of society and governance including the crusade against corruption. Many bigwigs of the local corporate community engaged in large-scale corruption, defaulting on bank loans worth hundreds of billions of taka and committing the crime of money laundering have been arrested. Hopefully, they will finally face justice. The new governor of the Bangladesh Bank (BB), Ahsan H Mansur, upon assuming office came up with assurances that the plunderers of the banks, for instance, would be tracked down and held to account. Mention may be made here of such a corporate group named S Alam Group from Chattogram which got the blessing of the head of the pre-August 5 government so much so that it was able to exercise total control over seven private banks, namely, the Islami Bank Bangladesh, Social Islami Bank, First Security Islami Bank, Union Bank, Global Islami Bank and Bangladesh Commerce Bank through hostile takeover since 2017. The said business group robbed the depositors of Tk2.0 trillion worth of public fund throwing those banks into severe liquidity crisis. The then-governor of Bangladesh Bank came to the rescue of the plunderer of public money by printing fresh money to address liquidity crisis of the private banks. What a perfect instance of symbiosis between a person in charge of regulating banks and a bank robber! But this is just one example of plundering state's resources in cahoots with public servants. This was a case of outright looting of financial institutions by an oligarch enjoying political patronage. Default loan culture was yet another form of committing bank robbery. However, it cannot be said that the loan default culture was an invention of the immediate past government. In fact, it is generally accepted and tolerated as a kind of original sin in the banking sector, thanks to the advantage the moneyed and the powerful class always get from society, let alone from banks. But during the long tenure of the last government until it was dislodged from power, the age-old loan default culture did indeed have its heyday. The cronies of the then-political class among the big business houses could borrow from the state-owned banks unlimited amounts of money, but were not obliged to repay the loans thus obtained. According to the BB governor, the amount of default loans till December 2023 was over Tk1.45 trillion. The amount was more than Tk1.2 trillion in December 2022 and over Tk1.03 trillion in December 2021. The default loan figures clearly show how the size of the unpaid loans were increasing by leaps and bounds every passing year. One corporate house that championed the culture of default loan was the infamous Beximco Group owned by Salman F Rahman and his family. Mr Rahman was also the adviser for private industry and investment to the deposed former prime minister. As he is awaiting trial for the financial offences he committed following his arrest on August 13, questions have arisen as to what will happen to the employees, who number some 70,000, of the companies under the corporate group he owned. Since an equal number of families and their members depend on their earnings, it is important that those companies function as usual and the government extend necessary support to this end. So, the positive stand taken by the labour and employment adviser about the Beximco employees is commendable. However, the challenge the interim government is facing on the issue of tackling corruption is enormous. In the words of the chief adviser to the interim government Dr Muhammad Yunus, who, while describing the level of corruption the nation was immersed in during the past regime, once compared it to what he termed an 'an ocean of corruption'. But how to fight corruption, not in mere words but in action is the real challenge. There was never any instance of the past governments whether elected or otherwise, whose rallying cry was not about fighting corruption. But history provides ample examples of how those governments themselves wallowed in the muck of corruption in the end.

In that case, those vowing to fight corruption need to take lesson from the past before they promise big about ridding the nation of corruption.​

 

[Saif]

Corrupt businessmen to face action, business to be active: Asif Mahmud

Adviser for the ministries of youth and sports as well as labour and employment, Asif Mahmud Shojib Bhuiyan has stated that legal action will be taken against corrupt businessmen. However, the government will make arrangements to keep that business organisdation running.

en.prothomalo.com

Corrupt businessmen to face action, business to be active: Asif Mahmud
Staff Correspondent
Dhaka
Updated: 27 Oct 2024, 19: 47

Adviser for the ministries of youth and sports as well as labour and employment, Asif Mahmud Shojib Bhuyain speaks at a consumer rights conference at the TSC Auditorium of Dhaka University on 26 October 2024. Prothom Alo

Adviser for the ministries of youth and sports as well as labour and employment, Asif Mahmud Shojib Bhuyain has stated that legal action will be taken against corrupt businessmen.

However, the government will ensure that the business keeps running. After all, the livelihood of many people are linked to the businesses. And this government has no bias towards anyone.

As an example, the labour adviser said that the lives of 70,000 officials and employees are involved with BEXIMCO. That means the lives of 70,000 families are involved there. The government is helping to keep that business establishment running, and has made arrangements to provide them with loans.

Asif Mahmud said these while speaking as the chief guest at a consumer rights conference on Saturday morning. Conscious Consumers Society (CCS) organised the daylong conference at the TSC auditorium of Dhaka University.

Mentioning that there is difference between individual corruption and a business establishment, adviser Asif Mahmud said, “We will bring those who committed crimes using their businesses and who siphoned off money through their government connections, to trial. But the government is helping to keep the business companies active”

If the youth want to collect produce directly from the farmers or the producers and deliver them to the consumers, the government will provide them with all the necessary assistance, stated the adviser.

Complaining that there is a lack of effort in following government directives at the field level, adviser Asif Mahmud warned the government officials, “Do not resort to bribery and lobbying for transfers, promotions or postings. Work for public welfare. If your good deeds are reflected, you’ll naturally receive bigger responsibilities.”

Speaking as the special guest of the event, secretary of the commerce ministry Mohammad Selim Uddin said to the businessmen, “The syndicates will be broken. Operate your businesses based on fairness with limited profit.”

“Do not try to pick people’s pockets by making huge profits. Taxes on many produces have been cut down but there’s no reflection of that in the market. Change your ways, otherwise strict measures will be taken,” he added.

Speaking as the special guest, secretary of the labour and employment ministry AHM Shafiquzzaman said there is corruption on every single level of the business sector. If the price of any item is hiked from the government level, it is implemented immediately. But when the prices are reduced, that does not go into effect in the market even in 15 days. There’s not even a single product in the market that does not have a fake copy, he added.

Among others director general of the directorate of national consumer rights protection Mohammad Alim Akhter Khan, CCS adviser and founder of Flora Limited Mostafa Rafiqul Islam, convener of Jatiya Nagorik Committee Nasir Uddin Patwari, Chhatra Dal general secretary Nasir Uddin, Chhatra Shibir president Jahidul Islam, Bangladesh Chhatra Odhikar Parishad president Bin Yamin Mollah and former additional secretary Mahbub Kabir spoke at the event.

CCS executive director Polash Mahmud gave the welcome speech at the event presided over by CCS chairman Khandokar Rashedul Haque. About 1,000 youth from 83 educational institutions in 22 districts of the country participated in this daylong conference.​

 

[Saif]

‘Corruption is hijacking our development process’

Look at cities like Kolkata and Jakarta, where metros were built at much lower costs and in less time.

www.thedailystar.net

‘Corruption is hijacking our development process’

The primary issue is the influence of a powerful syndicate formed during the previous government’s tenure. VISUAL:STAR

Md Shamsul Hoque, professor of civil engineering at the Bangladesh University of Engineering and Technology (BUET), talks to Monorom Polok of The Daily Star about the inefficiencies, corruption, and other obstacles plaguing development projects in Bangladesh's transportation sector.

Why are our development projects so costly and time-consuming?

The primary issue is the influence of a powerful syndicate formed during the previous government's tenure. This syndicate is a well-organised network of beneficiaries that do not want to make projects cost-effective because they directly profit from inflated budgets. The larger the project, the greater the hidden profits for them, allowing them to easily conceal their earnings. Directly or indirectly, they benefit from keeping projects costly and inefficient.

This syndicate doesn't want to take advice, no matter how much guidance is offered, because reforming the system would threaten their profits. Even if the political leadership changes—say, if BNP replaces Awami League—only their political portfolio would change, meaning the same group of beneficiaries would continue operating. This culture of profiteering through inflated project costs is too embedded to be dismantled easily.

What is your role in the newly formed task force to reframe development strategies, and what do you aim to achieve?

My focus within the committee is infrastructure, while most members bring expertise in economics. From my experience, I can say with certainty that unless we dismantle or overhaul this corrupt system, our development will continue to suffer in the long run. Given our large population and limited land, unplanned and inefficient infrastructure will only worsen the situation.

The situation is especially concerning with regard to the trend of high-cost projects. We are setting world records for expenses, yet corruption is hijacking our development process. Certain groups, both within the government and private sector, benefit from this, and they have no interest in changing the status quo.

Can you give specific examples of mismanagement in current development projects?

A key example is the way our transport sector is structured; political leaders do not want the sector to be well-organised because it would dry up their sources of extortion. The transport system could be streamlined, but doing so would reduce illicit profits that politicians and other influential figures enjoy.

Development projects are similarly riddled with issues. From procurement and contracts to other shady dealings, substantial benefits trickle down to a range of individuals—from politicians and ministers to ministry secretaries. Everyone is in on it. They've created a narrative that the country is undergoing massive transformation, but the reality is that self-interest, not public interest, is driving this transformation.

Take, for instance, Dhaka's metro system, particularly Metro-6 (from Motijheel to Uttara North). When the metro system was first planned, it was intended to transform public transport in the city, but the costs have since skyrocketed, and the project is taking much longer to complete than initially expected. If you compare our metro costs and timelines to those of similar projects in India and Indonesia, we are spending almost twice as much as India and one-and-a-half times more than Indonesia, with considerably longer completion times.

Why has the metro project's cost escalated so drastically, and how is this impacting people?

The metro project was supposed to provide affordable and efficient transportation for the public, but that is far from the reality. The costs are now so high that only the middle and upper-middle classes can afford it, excluding the poor who most need affordable options. We should have developed a cost structure that ensures accessibility for all.

Look at cities like Kolkata and Jakarta, where metros were built at much lower costs and in less time. In Dhaka, we've gone over our budget and are running behind schedule. When you borrow money in foreign currency for projects, you need to have a solid business model to repay those loans efficiently, but we seem to have missed that crucial aspect.

The core problem is that the people overseeing these projects are more focused on spending and procurement, which are opportunities for them to make money. They aren't interested in providing efficient services to the public. This inefficiency results in projects like Metro-6 being far more expensive than necessary.

How can these problems be addressed? What reforms are needed to make future projects more efficient?

First and foremost, we need to dismantle the syndicates and shadow networks profiting from development projects. This requires political will and a fundamental restructuring of how development projects are planned and executed.

We also need to start appointing experts with domain knowledge to lead these projects, rather than individuals who have little understanding of modern public transport or infrastructure systems. If we had professionals who knew how to plan and manage these projects, delays and cost overruns would be significantly reduced.

Another solution is to consider private-sector involvement in certain areas of operation. Many governments no longer rely on civil servants to run complex infrastructure projects because they tend to be less efficient. The private sector can introduce systems that enhance productivity and reduce costs by creating competitive environments where services are delivered more effectively.

For instance, in the mobile phone industry, as more users join, companies reduce rates and offer better services. If we applied the same model to public transport, we could make the metro system more affordable and more efficient over time. Additionally, we should explore other non-operational revenue sources, like commercial development and advertising, which can help subsidise operational costs.

How can Bangladesh balance large capital projects like the metro with more flexible, low-cost solutions?

In a city like Dhaka, where population density is extremely high, focusing solely on a metro system will not solve all our transportation problems. In fact, the current plan for Metro-6 and other future metro lines only serves a small portion of the population.

For example, if we were to invest $30 billion in a full metro network, it would only serve 17-20 percent of the city's population. Meanwhile, bus systems, if managed and regulated properly, could serve 40 percent of the population at a fraction of the cost. The 2005 Strategic Transport Plan (STP), which focused on creating an efficient transport system for the city, considered some of these factors. We need to prioritise systems that offer the best return on investment for the majority of the population.

Additionally, we should look into alternatives like light rail and monorail, which are cheaper and more flexible. Light rail, for example, can navigate winding routes and access areas where building a full metro line would be too expensive. These systems are being used successfully in cities like Singapore and Hong Kong, and we should seriously consider them for Dhaka's unplanned and densely populated areas such as Old Town, Basabo, Mohammadpur, etc.

So, what is the way forward for Dhaka's public transport system?

We need to think about inclusivity and sustainability. Currently, the metro system mainly benefits those living in certain areas, while large segments of the population, especially those in Dhaka's eastern and western edges, are excluded. These areas lack public transport options, and building a metro system there would be too costly.

This is where alternatives like monorails and light rail come in. They can be built on smaller infrastructure, like narrow pillars, and have a much smaller footprint, making them more suitable for areas with limited space. These systems would provide affordable transport options to millions of people who are currently left out.

Ultimately, we need to move away from the mindset that only big, expensive projects are the solution. By investing in a mix of transport modes—metros, buses, light rail—we can create a transport ecosystem that works for everyone, not just the elite.

If we continue as we are, we risk creating a system that serves a small portion of the population while draining the country's resources. Maintenance costs will skyrocket, revenue will fall short, and eventually, these projects could become financial burdens or "white elephants." The time to make thoughtful, data-driven decisions is now. Without it, future generations will bear the brunt of today's mistakes.

Views expressed in this article are the author's own.​

 

[Saif]

US Secret Service to train locals on anti-money laundering

The United States Secret Service, a federal law enforcement agency headquartered in Washington DC, will train officials of six agencies of Bangladesh to increase their capacity to tackle money laundering and terrorism financing.

www.thedailystar.net

US Secret Service to train locals on anti-money laundering

The United States Secret Service, a federal law enforcement agency headquartered in Washington DC, will train officials of six agencies of Bangladesh to increase their capacity to tackle money laundering and terrorism financing.

Around 60 officials of the Bangladesh Financial Intelligence Unit (BFIU), four units of Bangladesh Police, including the Criminal Investigation Department, as well as the National Board of Revenue (NBR), the Anti-Corruption Commission (ACC), the Department of Narcotics Control, and Bangladesh Securities and Exchange Commission (BSEC) will receive training in two phases.

Twenty officials of the BFIU will take part in the training, an official of the financial intelligence unit told The Daily Star.

A delegation of the American Secret Service will come to Bangladesh to conduct the training.

In the first phase, a five-day training programme will begin at the Police Staff College Bangladesh in the capital on November 10, followed by another five-day training session from November 17.

Another two sets of follow-up training sessions of the second phase will begin respectively on February 2 and February 9.

All agencies responsible for tackling money laundering have become active after the fall of the Sheikh Hasina-led government on August 5 this year.

The BFIU, ACC, NBR, BSEC, and other regulatory bodies have initiated investigations into business tycoons who have allegedly siphoned money abroad.

The interim-government has already formed a task force headed by the Bangladesh Bank governor to bring back the laundered money.

In a recent interview with the Financial Times, BB Governor Ahsan H Mansur accused tycoons linked to the toppled Sheikh Hasina regime of working with members of the country's powerful military intelligence agency to siphon $17 billion (around Tk 2 trillion) out of Bangladesh's banking sector during her rule.

​

 

[Saif]

ACC fails to prosecute Matiur

The Anti-Corruption Commission has failed to file any case against former president of the National Board of Revenue’s Customs, Excise, and VAT Appellate Tribunal, Matiur Rahman, over the...

www.newagebd.net

ACC fails to prosecute Matiur
Solamain Salman 31 October, 2024, 23:56

Matiur Rahman

The Anti-Corruption Commission has failed to file any case against former president of the National Board of Revenue’s Customs, Excise, and VAT Appellate Tribunal, Matiur Rahman, over the allegations of amassing illegal wealth as the ACC could not complete its probe into allegations against him within the stipulated time.

The ACC rules allow an investigation officer a maximum of 75 days to complete an inquiry but the inquiry team led by ACC deputy director Anwar Hossain failed to complete the probe until October 28 although 143 days have elapsed since the beginning of the probe against Matiur and his family members on June 4.

The commission, on completion of a probe into allegations against anyone, files a case against the individual if it finds adequate evidence against him or her.

Officials said that the commission had already found information on a huge amount of moveable and immovable assets in the names of Matiur and his family members. They also found enough evidence of amassing illegal wealth and money laundering against Matiur.

ACC director general Md Akhtar Hossain on Sunday told New Age that the ACC inquiry was almost completed against Matiur Rahman, and the inquiry team was now conducting final scrutiny of the information the probe team had found against him.

‘The ACC, based on the inquiry report, will take a decision soon in this regard,’ he said and added that the commission was trying its best to complete the inquiry as soon as possible.

Matiur’s second wife Shammi Akhtar and their son Mushfiqur Rahman have already left the country amid the probe, while Matiur is also reportedly trying to flee the country.

On October 20, Dhaka senior special judge court imposed an international travel ban on Matiur, his first wife Layla Kaniz, and their son Ahmed Taufiqur Rahman Arnob.

ACC public prosecutor Mahmud Hossain Jahangir told New Age that the commission sought the travel bans as Matiur and his family members were trying to flee the country.

Matiur was first exposed to public scrutiny after a video footage had gone viral on social media showing his second wife’s son, Mushfiqur Rahman Ifat, buying a goat for Tk 12 lakh ahead of Eid-ul-Azha in June.

The goat scandal involving his son brought his assets under ACC scrutiny in June of this year for the fifth time in the past two decades.

In 2004, the ACC launched the first inquiry against Matiur, while it conducted three more inquiries in 2008, 2013, and 2021 without any breakthrough.

There are allegations that the ACC officials gave Matiur clean chits in each of the four inquiries due to his influence.

Matiur could not be reached for comments even after several attempts over the phone on Sunday and Monday.

During the ongoing inquiry, the anti-corruption agency found massive movable and immovable wealth owned by Matiur and his family members in different places including Dhaka, Gazipur, Mymensingh and Narsingdi.

ACC found evidence of 3,523 decimals of land, and shares of 19 companies, and Tk 13.44 crore in 116 bank accounts and 23 beneficiary owner’s accounts.

The commission also found eight apartments in Dhaka, a multi-storey building in the capital’s Bashundhara residential area, owned by Matiur and his family members.

It was reported that Matiur and his family, using the illegal income, became owners of resorts, shooting spots, bungalows, land, and other properties.

But, in an interview with a television channel, Matiur denied the graft allegations and said that the ACC had earlier given him clean chits four times.

The government, responding to Matiur’s application, on July 31 granted his early retirement from August 28 as his 25 years in service was completed.

Before this, the finance ministry transferred him to the Internal Resources Division from the Customs, Excise & VAT Appellate Tribunal.

The government also removed Matiur from the position of a director of state-run Sonali Bank PLC in June amid graft allegations.

Matiur is from Muladi upazila in Barishal.

He joined the government job as a member of the trade cadre of the 11th batch of the Bangladesh Civil Service but later he joined the customs cadre of the 13th batch of BCS.​

 

[Saif]

Reforms underway to prevent corruption

The interim government has started institutional reform works to prevent corruption and ensure transparency and accountability in all sectors, said Energy, Road Transport, and Railways Adviser Muhammad Fouzul Kabir Khan today

www.thedailystar.net

Reforms underway to prevent corruption
Says energy adviser

Photo: Collected

The interim government has started institutional reform works to prevent corruption and ensure transparency and accountability in all sectors, said Energy, Road Transport, and Railways Adviser Muhammad Fouzul Kabir Khan today.

He said this while addressing a seminar at a city hotel.

The seminar, titled "Harmonizing Reform and Sustainable Infrastructure Development for a Prosperous Bangladesh," was organised by Bangladesh Secretariat Reporters Forum.

The interim government has destroyed the infrastructure connected to corruption, the adviser said, adding that efforts are underway to reduce corruption to a tolerable limit.

"We have not ascended to power; we assumed the responsibility," he noted, saying, "So every project should be considered based on people's interests, not for the vested group," he said.

The previous government implemented various projects for the interests of their nexus, so that vested groups, relatives, and individuals could grab a huge amount of money from those, he added.

Pointing out the government's plan to increase use of renewable energy, the adviser said the ongoing activities under the Quick Enhancement of Electricity and Energy Supply (Special Provisions) Act 2010 (Amended 2021) were suspended along with the government power to fix electricity and gas prices under.

He said the government has a plan to excavate 50 exploration wells by 2025, adding, "Henceforth all purchases in the energy sector will be through the open tender method rather than negotiations."

He also said the energy ministry has taken the initiative to install a substation to supply electricity smoothly.

Regarding energy price, Fouzul Kabir said the Bangladesh Energy Regulatory Commission (BERC) will decide on fuel and energy price.​

 

[Bilal9]

ACC fails to prosecute Matiur

The Anti-Corruption Commission has failed to file any case against former president of the National Board of Revenue’s Customs, Excise, and VAT Appellate Tribunal, Matiur Rahman, over the...

www.newagebd.net

ACC fails to prosecute Matiur
Solamain Salman 31 October, 2024, 23:56

View attachment 10202
Matiur Rahman

The Anti-Corruption Commission has failed to file any case against former president of the National Board of Revenue’s Customs, Excise, and VAT Appellate Tribunal, Matiur Rahman, over the allegations of amassing illegal wealth as the ACC could not complete its probe into allegations against him within the stipulated time.

The ACC rules allow an investigation officer a maximum of 75 days to complete an inquiry but the inquiry team led by ACC deputy director Anwar Hossain failed to complete the probe until October 28 although 143 days have elapsed since the beginning of the probe against Matiur and his family members on June 4.

The commission, on completion of a probe into allegations against anyone, files a case against the individual if it finds adequate evidence against him or her.

Officials said that the commission had already found information on a huge amount of moveable and immovable assets in the names of Matiur and his family members. They also found enough evidence of amassing illegal wealth and money laundering against Matiur.

ACC director general Md Akhtar Hossain on Sunday told New Age that the ACC inquiry was almost completed against Matiur Rahman, and the inquiry team was now conducting final scrutiny of the information the probe team had found against him.

‘The ACC, based on the inquiry report, will take a decision soon in this regard,’ he said and added that the commission was trying its best to complete the inquiry as soon as possible.

Matiur’s second wife Shammi Akhtar and their son Mushfiqur Rahman have already left the country amid the probe, while Matiur is also reportedly trying to flee the country.

On October 20, Dhaka senior special judge court imposed an international travel ban on Matiur, his first wife Layla Kaniz, and their son Ahmed Taufiqur Rahman Arnob.

ACC public prosecutor Mahmud Hossain Jahangir told New Age that the commission sought the travel bans as Matiur and his family members were trying to flee the country.

Matiur was first exposed to public scrutiny after a video footage had gone viral on social media showing his second wife’s son, Mushfiqur Rahman Ifat, buying a goat for Tk 12 lakh ahead of Eid-ul-Azha in June.

The goat scandal involving his son brought his assets under ACC scrutiny in June of this year for the fifth time in the past two decades.

In 2004, the ACC launched the first inquiry against Matiur, while it conducted three more inquiries in 2008, 2013, and 2021 without any breakthrough.

There are allegations that the ACC officials gave Matiur clean chits in each of the four inquiries due to his influence.

Matiur could not be reached for comments even after several attempts over the phone on Sunday and Monday.

During the ongoing inquiry, the anti-corruption agency found massive movable and immovable wealth owned by Matiur and his family members in different places including Dhaka, Gazipur, Mymensingh and Narsingdi.

ACC found evidence of 3,523 decimals of land, and shares of 19 companies, and Tk 13.44 crore in 116 bank accounts and 23 beneficiary owner’s accounts.

The commission also found eight apartments in Dhaka, a multi-storey building in the capital’s Bashundhara residential area, owned by Matiur and his family members.

It was reported that Matiur and his family, using the illegal income, became owners of resorts, shooting spots, bungalows, land, and other properties.

But, in an interview with a television channel, Matiur denied the graft allegations and said that the ACC had earlier given him clean chits four times.

The government, responding to Matiur’s application, on July 31 granted his early retirement from August 28 as his 25 years in service was completed.

Before this, the finance ministry transferred him to the Internal Resources Division from the Customs, Excise & VAT Appellate Tribunal.

The government also removed Matiur from the position of a director of state-run Sonali Bank PLC in June amid graft allegations.

Matiur is from Muladi upazila in Barishal.

He joined the government job as a member of the trade cadre of the 11th batch of the Bangladesh Civil Service but later he joined the customs cadre of the 13th batch of BCS.​

This guy will not escape scrutiny. The noose will tighten as he is under the spotlight.