[🇧🇩] Everything about Hasina's misrule/Laundered Money etc.

Saif · Oct 5, 2024

Obaidul Quader, Sheikh Helal, Tarique Siddique behind graft in road projects

National Development Engineers (NDE) is a wonder among the road construction contractors. The company debuted in the road construction sector by the end of 2017. Within just six years, they got contracts of Tk 85 billion separately and jointly, which is 10 per cent of the total works done in the...

en.prothomalo.com

Obaidul Quader, Sheikh Helal, Tarique Siddique behind graft in road projects
Anowar Hossain
Dhaka
Updated: 05 Oct 2024, 23: 00

Although National Development Engineers (NDE) debuted in the road construction sector at the end of 2017, the company is a wonder among the road construction contractors.

Within just six years, they got contracts of Tk 85 billion separately and jointly, which is 10 per cent of the total works done in the last 12 years.

Speaking to Prothom Alo on condition of anonymity, seven roads and highways department (RHD) officials said NDE used to manipulate tenders through former road transport and bridges minister Obaidul Quader to get the contracts.

The former minister had told the officials that Sheikh Hasina’s former military adviser Tarique Ahmed Siddique was behind the company.

Analysing the projects taken up by the RHD from 2011-12 to 2023-24, it was found that only 15 companies like NDE got 90 per cent of the work in terms of expenditure. The previous government spent more than Tk 830 billion in 12 years. And those 15 contracting agencies got contracts worth around Tk 750 billion individually or jointly.

Speaking to Prothom Alo, Bangladesh University of Engineering and Technology (BUET) professor Shamsul Haque said, “Illegal practices like manipulation to get contracts, withdrawing money for below standard works and charging additional bills showing extra work without doing them, were ‘open secrets’ during the rule of the Awami League. It was like an epidemic of corruption.”

There are some 1,100 contracting agencies registered with the RHD. So the question remains as to how only 15 of those companies got 90 per cent of the contracts.

The RHD engineers say these contractors largely were ‘blessed’ by the AL ministers and MPs. However, the contractors claimed they had to pay ‘commission’ despite having connections with the leaders and ministers. Their (RHD officials) illegal incomes will be evident if the Anti-corruption Commission (ACC) investigates their assets.

The 15 contracting agencies, who secured 90 per cent contract of road projects are Hasan Techno Builders, Rana Builders, NDE, Mojahar Enterprise, Moinuddin (Banshi), Taher Brothers, Md Aminul Haque Private Ltd, Masud HighTech, Spectra Engineers, M/S Saleh Ahmed, M M Builders, Reliable Builders, Toma Construction, Mahfuz Khan Ltd and Abed Mansur Construction.

As the irregularities came to light, some 45 companies were blacklisted for six months to two years in the first nine months this year. Some 13 of the top contractors were among the blacklisted companies.

RHD sources said three groups would control road contracts during the past 15 and a half years of Awami League rule.

They are influential leaders and parliament members from the Awami League, relatives and close associates of former road minister Obaidul Quader, and certain engineers from RHD.

After Quader became minister in 2011, a network formed, including former Feni MP Nizam Uddin Hazari, Quader’s brother Abdul Quader Mirza, his wife Ishratunnessa Quader, and former Noakhali MP Ekramul Karim Chowdhury.

Illegal practices like manipulation to get contracts, withdrawing money for below standard works and charging additional bills showing extra work without doing them, were ‘open secrets’ during the rule of the Awami League. It was like an epidemic of corruption--Bangladesh University of Engineering and Technology (BUET) professor Shamsul Haque.

In 2021, Quader Mirza publicly criticized his brother, sister-in-law, and Ekram Chowdhury. Later it was known that they locked into a conflict over the distribution of contracts. However, disputes between the brothers later eased, and Quader Mirza, after securing contracts, kept silent.

Road transport and bridges ministry adviser Fouzul Kabir Khan told reporters that decisions on who would receive contracts were made beforehand, followed by the formal process of calling for tenders.

He also said that this practice would end and that legal and institutional reforms would be implemented to increase competition. He is also considering a comprehensive investigation into past irregularities and corruption.

Sources said using Sheikh Selim’s influence, Shafiqul secured contracts worth Tk 1.37 billion in Gopalganj last November and Tk 2.42 billion in Dhaka the previous October. In the Dhaka contract, his partner was his father Shamsul Alam's firm, Orient Trading and Builders.

They are big contractors for the blessings of leaders

The contractor that received the work with the highest amount of money over the past 12 years is Hasan Techno Builders, which secured contracts worth Tk 111.18 billion. Rana Builders got work worth Tk 109.11 billion.

The owner of Hasan Techno is Najmul Hasan and Rana Builders' owner is Md Alam. They are uncle and nephew . Najmul Hasan is a close associate of former MP AKM Bahauddin Bahar from Cumilla. Both the companies have been banned on allegations of fraud.

Speaking to Prothom Alo, Najmul Hasan said they won all contracts at prices lower than the estimated costs and denied any connection to Bahar.

Mohammad Alam said he is carrying out contracts of HRD over four decades. He secured work due to competence. He has been banned due to mistakes of other contractor with whom he worked jointly.

Alam's nephew, Zulfiqar Hossain (Masud Rana), runs Masud High-Tech, which received contracts worth Tk 43.81 billion. This firm is eighth among those who received the contracts of the highest amount.

Zulfiqar has connections to Sheikh Hasina’s cousin Sheikh Jewel and the controversial former MP Shamim Osman from Narayanganj, according to RHD officials.

RHD sources said NDE, which worked on the roads and highways department only for six years, stood third in the list of highest recipients of contracts.

NDE was banned for six months on 6 July for submitting forged and fake documents. The firm moved to the High Court which stayed the ban.

A contract firm named Sagar Info Builders completed 39 projects in collaboration with NDE, also benefiting from Tarique Ahmed Siddique’s support.

When asked, NDE’s managing director Raihan Mustafiz, speaking to Prothom Alo, said, “We are businessmen; we don’t need Tarique Siddique. Khaleda Zia is also a relative.”

He mentioned that his firm has been established in 1982.

"We have carried out most of the work in the public works. Later we started work in the road sector. We have won contracts at lower prices than government estimates," Raihan Mustafiz added.

However, there are allegations that those attempting to secure road contracts are tipped off about government estimates in advance. Consequently, the bidding conditions are often tailored to favour certain contractors.

There are allegations that those, who would be given contracts, are informed beforehand of the government estimates. Accordingly, the contractors secure contracts. Conditions of the tenders are also set in accordance with the qualifications of the preferred contractors.

The fourth-highest recipient is Mojahar Enterprise, owned by Kazi Mojaharul Islam, a close associate of Sheikh Helal Uddin, a former MP from Bagerhat. Mojahar Enterprise has completed contracts worth Tk 65.31 billion, mainly in the Khulna region.

Fifth is Moinuddin Limited, with contracts totaling Tk 64.64 billion. Seventh is Mohammad Aminul Haque Limited with Tk 45.49 billion. Both contractors reportedly ‘managed’ RHD officials, and secured work. They also used political leaders whenever needed.

MS Saleh Ahmed, in tenth place, has completed contracts worth Tk 29.59 billion. The owner, Saleh Ahmed (Babul), is close to former MP Nizam Uddin Hazari. RHD officials said Nizam Hazari mainly would run the organisation.

Reliable Builders completed contracts worth Tk 23.44 billion, with owner Shafiqul Alam (Mithun) positioned as the twelfth-highest recipient. Shafiqul was reportedly close to Awami League leader Sheikh Fazlul Karim Selim. RHD sources said using Sheikh Selim’s influence., Shafiqul secured contracts worth Tk 1.37 billion in Gopalganj last November and Tk 2.42 billion in Dhaka the previous October. In the Dhaka contract, his partner was his father Shamsul Alam's firm, Orient Trading and Builders.

Two RHD officials said a step was taken to blacklist Reliable in the beginning of this year after its forgery was detected. At the time, Sheikh Selim made phone calls several times to prevent this.

There are allegations that models were engaged for lobbying for securing contracts. A BMW was seized from a model in 2021. Its registration was with Reliable Builders' name.

The thirteenth highest, Toma Construction, has garnered attention for securing numerous government contracts in various sectors, including railways, local government and public works. The owner, Ataur Rahman Bhuiyan, was a vice president of the Noakhali district Awami League and contested as an independent candidate in the last elections on 7 January but lost.

There are discussions that Awami League central organising secretary Mirza Azam has connection with Toma Construction. However, Ataur Rahman has denied this. Toma secured contracts worth Tk 23.09 bilion in 12 years.

Sources at the RHD said that Ataur Rahman had good relations with transport minister Obaidul Quader, former MP of Noakhali Ekramul Karim Chowdhury and Mirza Azam. As a result, Toma secured several projects after Quader became minister.

After a falling out with Ekram Chowdhury at the end of 2020, Quader initially instructed officials not to award work to Ataur Rahman, labeling him as aligned with his rival. However, tensions eased within a year, and Toma began to secure projects again.

Mahfuz Khan Limited, in the fourteenth position, has completed contracts worth Tk 22.81 billion. Mahfuz Khan is a relative of former prime minister Sheikh Hasina.

Abed Mansur Construction, in fifteenth place, has received contracts worth Tk 19.14 billion. The owner, Abed Mansur, previously worked in advertising and television production, establishing connections with Obaidul Quader. Since 2018, he has been involved in RHD contracts, and secured contracts by submitting fraudulent experience certificates.

While not among the highest, a contractor named J Enterprise has gained attention for securing ten projects worth nearly Tk 1.97 billion, allegedly backed by Jahangir Alam, a controversial figure related to Sheikh Hasina.

Following the fall of the Awami League government amid student-people's uprising on 5 August, influential leaders including Obaidul Quader, Quader Mirza, Nizam Hazari, Ekram Chowdhury, and others went into hiding. Attempts to contact Quader’s wife, Ishratunnessa Kader, were not successful.

Meanwhile, some top contractors have claimed to be deprived. On 18 August, a group of contractors presented a 10-point demand to the chief engineer of RHD, with nine signatories among the highest earners, including Hasan Techno Builders, NDE, Reliable Builders, Masud High-Tech, and MS Saleh Ahmed.

Following the allegations, the supervisory engineer Abul Kalam Azad responsible for blacklisting contractors was transferred to a less significant position after contractors demanded this in their list of grievances.

Of the remaining around 4000 tenders ranged from Tk 10 million to over Tk 5 billion. While speaking to three contractors, it is learnt that 10 to 15 per cent of any project budget is often allocated for politicians for commission.

"An independent and impartial investigation is essential"

In 2018, the Anti-Corruption Commission (ACC) submitted a report with a number of recommendations to the ministry of road transport and the cabinet division outlining the sources and causes of corruption in road projects.

The cabinet division instructed the roads and highways department to implement these recommendations, but the road transport and bridges ministry ignored them.

Over the past decade, the roads and highways department (RHD) has called for more than 40,000 tenders. Among these, over 36,000 tenders were valued between Tk 100,000 and Tk 10 million, amounting to a total expenditure of nearly Tk 64 billion. Sources said that in many cases, these small projects are mainly undertaken merely for embezzlement.

Approximately 4,000 remaining tenders were valued at between Tk 10 million and Tk 5 billion or more.

While talking to three contractors, it is learnt that 10 to 15 per cent of the project cost is typically spent on commissions for politicians and engineers. Additionally, funds are also allocated for bribes and extortion at the grassroots level.

Samshul Haque said that the officials involved from the RHD should face severe penalties for accepting bribes, providing illegal assistance in obtaining contracts, and facilitating fraud.

He emphasized the urgent need for an independent and impartial investigation into these matters.

Saif · Oct 7, 2024

Govt cancels deal with Summit Group for second FSRU

Summit terms termination of the deal ‘unjustified’, says will appeal for review

www.thedailystar.net

Govt cancels deal with Summit Group for second FSRU
Summit terms termination of the deal ‘unjustified’, says will appeal for review

The government today cancelled its deal with Summit Group on the second Floating Storage and Regasification Unit (FSRU).

The deal has been terminated upon the instruction of the power, energy and mineral resources ministry, Petrobangla Chairman Zanendra Nath Sarker told The Daily Star.

In contrast, Summit Group said in a statement that it has received a termination notice of the FSRU's terminal use agreement.

"We believe this is unjustified and will appeal for review," it said, adding that the group has a proven track record of developing long-term infrastructure projects in Bangladesh in a responsible and transparent manner.

On March 30 this year, Petrobangla and Summit signed a terminal use agreement and another agreement for the implementation of its second FSRU.

On the same day, they also signed sale and purchase agreement to supply 1.5 million tonnes of liquified natural gas (LNG) per year for a 15-year period, starting from October 2026.

Saif · Oct 7, 2024

Democratising Bangladesh’s international treaty practice

IN RECENT times, the issue of ‘secret treaties’ has surfaced in Bangladesh’s public discourse on several occasions. It has been alleged that the deposed Awami League government...

www.newagebd.net

Democratising Bangladesh’s international treaty practice
by Quazi Omar Foysal 08 October, 2024, 00:00

IN RECENT times, the issue of ‘secret treaties’ has surfaced in Bangladesh’s public discourse on several occasions. It has been alleged that the deposed Awami League government concluded numerous treaties with foreign states and entities without public consultation. The Adani Power Plant Agreement is worth mentioning here. While this issue partly stems from the policy of the last autocratic government, the constitutional framework of Bangladesh also left provisions that made a dictator engage in such a treaty. As discussions on amending the constitution gain momentum, it is crucial to seize this opportunity to democratise the treaty-making process in line with comparative constitutional practice and international law. Without necessary constitutional reforms, the problem of ‘secret treaties’ will likely persist in the future, endangering national economic, political, and security interests.

States generally enter into treaties with other states, international organisations, and sometimes private entities on various matters. Treaty practices vary widely across different legal cultures and even between states. The constitutional law of most countries provides a detailed framework for treaty-making, and Bangladesh is no exception. However, the inherent inadequacy of the constitutional provisions, coupled with the lack of an implementation mechanism, has led to the current precarious system.

The Constitution of Bangladesh does not explicitly outline the treaty-making powers. Article 55(2), read alongside the Rules of Business and clarified by the Supreme Court of Bangladesh, vests the executive branch of the government with the treaty-related powers. Notably, there is no requirement for parliamentary approval before ratifying a treaty. Interestingly, Surenjit Sengupta made this proposal in the Constituent Assembly, but it was subsequently rejected.

Article 145A of the Constitution is the most significant provision regarding Bangladesh’s treaty practice. It outlines the role of Parliament in the treaty-making process in the following terms: ‘All treaties with foreign countries shall be submitted to the president, who shall cause them to be laid before parliament: Provided that any such treaty connected with national security shall be laid in a secret session of Parliament.’

This provision was introduced through Second Proclamation Order No. IV in 1978 and was later validated by the 5th and 13th amendments to the constitution. Following the invalidation of the 5th amendment by the Supreme Court, the 13th amendment to the constitution reinstated the same provision without any changes. Despite its mandatory nature, parliament has only acted on Article 145A once — following the conclusion of the Ganges Water Treaty in 1996. It has been argued that the failure to place treaties before parliament has given rise to the collective responsibility of the cabinet to the parliament, leading to questions of transparency, good governance, and the rule of law in the country. It is logical to assert that the issue of ‘secret treaties’ is a by-product of such omission.

There are several criticisms with the construction of Article 145A. First of all, the provision only refers to treaties with ‘foreign countries,’ reflecting the treaty practices of the 1970s. Since then, the law of treaties has evolved remarkable. Today, states enter into agreements not only with other states but also with international organisations and even private entities. Unfortunately, Article 145A was not even revised when it was reintroduced by the 13th amendment to the constitution. This oversight may have allowed the executive to bypass Article 145A in certain cases. Secondly, the article does not define ‘national security,’ allowing the executive to adopt its broad interpretation and evade regular parliamentary scrutiny while materialising its unsanctioned political ambitions, often at odds with broader national interests. Thirdly, the constitution lacks a clear definition of ‘treaty.’ Article 152 is silent on this issue. In international law, the definition of treaties has evolved significantly over time. Even a memorandum of understanding, which is widely regarded as a political agreement rather than a legal one, has been recognised by international courts as having the status of a treaty. This ambiguity allows the executive to avoid parliamentary oversight by categorising binding agreements under different names. Finally, Article 145A does not establish any oversight mechanism or implementation legislation to regulate Bangladesh’s treaty practices. As a result, treaty-making has been left vulnerable to the political whims of successive governments. The controversy over ‘secret treaties’ should therefore come as no surprise.

As Bangladesh contemplates amending the constitution, it should seriously address the gaps in treaty-related provisions as part of this process. To begin with, the scope of the definition of treaties should be reformulated. It is suggested that the definition of treaties should include treaties with international organisations and private entities. Such agreements can have significant implications for Bangladesh, as evidenced by the Adani incident. Furthermore, the scope of ‘national security’ should be clearly defined through a set of indicators that are subject to judicial review. Parliamentary scrutiny of these categories of treaties would help prevent similar scandals in the future.

Second, a mandatory parliamentary oversight mechanism must be established to ensure transparency in treaty-making. International treaties should not be viewed solely through the lens of foreign policy, as they often have significant domestic legal implications. Therefore, this crucial aspect of governance should not be left solely to the executive. Instead, it should be democratised through the mandatory involvement of parliament.

Third, there should be constitutional provisions for pre-ratification parliamentary approval in certain categories of treaties having serious implications for national interests or affecting the domestic legal order. Given that Bangladesh follows the dualist tradition, the sources of international law must be domesticated to have force in Bangladesh. Notably, the Bangladeshi government is obligated to respect its international obligations even in the absence of corresponding domestic legislation. In such cases, the government should be required to seek mandatory parliamentary approval before ratifying any international treaty that significantly impacts the state’s interests or affects the domestic legal order, including the necessity for domestic implementation. Doing so would safeguard national interests and foster greater accountability.

Finally, Bangladesh should also enact dedicated legislation regulating treaty practices. As a matter of fact, the Bangladesh Law Commission proposed the Conclusion and Enforcement of Treaties Act in 2015, but it was ignored by subsequent governments. Bangladesh’s incoherent treaty practice may find its root in the absence of any dedicated legislation governing treaty matters. It is high time for the country to enact such legislation to enhance the transparency of its treaty practices. In the same vein, Bangladesh must align its treaty practices with contemporary international standards. Accession to the Vienna Convention on Law of the Treaties 1969 would be a significant step in this direction.

The practice of ‘secret treaties’ has largely been abandoned in international relations, particularly since the end of World War I. It is unfortunate that the people of Bangladesh are still encountering this practice in the 21st century. Therefore, Bangladesh should urgently amend its constitutional provisions and enact relevant domestic legislation to bring its treaty practices in line with international law. Likewise, it should disclose all so-called secret treaties to the public to the extent feasible.

Quazi Omar Foysal is an international law expert, currently working at American International University-Bangladesh.

Saif · Oct 7, 2024

12 S Alam firms evaded Tk 50b in VAT

Amid severe criticism for grabbing multiple banks, the National Board of Revenue (NBR) has found evidence of value-added tax (VAT) evasion amounting to Tk 14.14 billion against 10 companies of industrial conglomerate S Alam Group. This information was revealed during an investigation by the...

en.prothomalo.com

12 S Alam firms evaded Tk 50b in VAT
Jahangir Shah
Dhaka
Published: 07 Oct 2024, 22: 40

Amid severe criticism for grabbing multiple banks against Chattogram-based S Alam Group, the National Board of Revenue (NBR) has found evidence of value-added tax (VAT) evasion amounting to Tk 14.14 billion against 10 companies of the industrial conglomerate.

This information was revealed during an investigation by the Chittagong Customs, Excise, and VAT Commissionerate.

A preliminary investigation report in this regard was finalised last week.

The companies involved are: S Alam Steels, Chemon Ispat, S Alam Refined Sugar, SS Power, S Alam Power Plant, S Alam Properties, S Alam Cold Re-Rolling Mills, Masud Printing and Packaging, S Alam Bag Manufacturing Mills, and S Alam Cement Industries.

Additionally, in recent months, the same VAT commissionerate found evidence of VAT evasion totaling at Tk 35 billion against two other companies of the group, S Alam Vegetable Oil and S Alam Super Edible Oil. The matter has now reached the courts.

In total, VAT officials have discovered evidence of VAT evasion amounting to nearly Tk 50 billion against 12 companies of the S Alam Group.

VAT evasion is considered a more serious offence than income tax or customs evasion because VAT is collected from consumers. Evasion means that consumers' money is not deposited into the government's treasury---Zahid Hussain, former lead economist, World Bank Dhaka office.

In addition to VAT issues, investigations are ongoing regarding income tax evasion by the group's head, Saiful Alam, and his family members.

Following the student-people uprising, former prime minister Sheikh Hasina left the country on 5 August. During her administration, the S Alam Group was one of the major beneficiaries. Saiful Alam and his family have faced various allegations over the past decade, including bank takeover and money laundering, with claims that these activities were facilitated by state support.

Speaking to Prothom Alo, former lead economist, World Bank Dhaka office, Zahid Hussain, said VAT evasion is considered a more serious offence than income tax or customs evasion because VAT is collected from consumers. Evasion means that consumers’ money is not deposited in the government’s treasury.

He said that VAT evasion represents two types of offences: the failure to deposit due revenue into the government treasury and consumer deception.

Zahid Hussain suggested that those guilty of VAT evasion should face exemplary punishment, including fines and possible imprisonment for defrauding consumers.

VAT evasion details

On 19 August, a 20-member investigation team was formed to investigate VAT evasion by 18 companies of the S Alam Group, most of which fall under the jurisdiction of the Chittagong commissionerate. The team was given one month to audit the sales and production records of these companies for the past five years.

After the initial investigation, evidence of VAT evasion was found against 10 companies, with the most significant being S Alam Refined Sugar Limited in Ichhanagar, Chattogram, which evaded Tk 7.55 billion. S Alam Cold Re-Rolling Mills in Patiya was second, evading Tk 2.16 billion. SS Power in Bashkhali, which operates a 1,300-megawatt power plant, evaded Tk 2 billion.

Other companies are: Chemon Ispat (Tk 1.47 billion), S Alam Steels (Tk 560 million), S Alam Power Plant (Tk 210 million), S Alam Cement Industries (Tk 105 million), S Alam Properties (Tk 600 million), Masud Printing and Packaging (Tk 200 million), and S Alam Bag Manufacturing Mills (Tk 3.1 million).

The Chattogram VAT commissionerate has issued notices to these companies, but there is no response from them yet.

Investigations are also ongoing for other companies within the group, including S Alam Steel (Unit-2), New S Alam Shoes and Burmese, Autobots Automobiles, Platinum Spinning Mills, Grand Spinning Mills, Infinity CR Strip Industries, and Ocean Resort.

Commissioner Syed Musfiqur Rahman from the Customs, Excise, and VAT Commissionerate said audits of S Alam Group companies are part of standard operations to detect VAT evasion, and any identified evasion will be collected legally. Legal action would be taken if necessary.

Previous two firms evaded Tk 35 billion in VAT

In June, VAT officials found evidence of around Tk 35 billion of VAT evasion against two companies of the S Alam Group: S Alam Vegetable Oil and S Alam Super Edible Oil.

These companies hid their sales information from the fiscal year 2019-20 and committed VAT evasion by underreporting their sales in returns.
The VAT evasion amounts were Tk 19.11 billion for S Alam Vegetable Oil and Tk 16.20 billion for S Alam Super Edible Oil. This matter is also pending in court.

Ongoing tax evasion investigation of S Alam

After the new government took power, the NBR's Central Intelligence Cell (CIC) began investigating tax evasion among the country's top six industrial groups. Information regarding the bank accounts of Saiful Alam, his family members, and their businesses has been requested.

It was found that accounts in six banks associated with the S Alam Group and its family members held deposits of Tk 259.65 billion. These banks are: Islami Bank, Commerce Bank, Al-Arafah Islami Bank, First Security Islami Bank, and National Bank, all of which were under the control of the S Alam Group.

Moreover, an FDR of Tk 10 million was found under the name of the family’s domestic worker, Marzina Akhtar.

Saiful Alam, better known as S Alam, spends most of his time abroad and has not been publicly seen since the fall of Sheikh Hasina's government.

* This story, originally published in print and online edition, has been rewritten in English by Rabiul Islam

Saif · Oct 10, 2024

Leave no room for conflicts of interest

The case of former DSCC mayor shows danger of unchecked power

www.thedailystar.net

Leave no room for conflicts of interest
The case of former DSCC mayor shows danger of unchecked power

VISUAL: STAR

The story of how former DSCC Mayor Sheikh Fazle Noor Taposh allegedly exploited his office and clout to advance his business interests should serve as a cautionary tale not just for mayors and other public office holders, present or future, but also for the interim government so that no such unethical practices ever occur again. According to a report by Prothom Alo, Taposh, after becoming mayor in 2020, directed DSCC's substantial fixed deposits and financial dealings to Modhumoti Bank, which he helped establish and continues to serve as a director. By September 2023, Modhumoti Bank held 46 percent of DSCC's total fixed deposits. Additionally, five out of seven ongoing projects of DSCC had their funds deposited in the same bank. In total, "Taposh's bank", as it is generally known, held a total of Tk 966 crore from DSCC's fixed deposits and project funds.

Moreover, the mayor, who is now absconding after the fall of the Awami League government, also redirected his office's financial transactions from other banks to Modhumoti, and even established six of its booths within DSCC offices, while depriving other banks. It should be mentioned that Taposh's actions were enabled by Awami League that allowed 50 percent of government agency funds to be kept in the private banks approved in 2013, including Modhumoti, based on political considerations. The whole episode is another reminder of how the regime blatantly abused power and allowed conflicts of interest to corrupt governance.

The Taposh case is just one of many that occurred during its tenure. Over the years, we have seen how numerous Awami League leaders, including MPs, owned or had stakes in businesses that often benefited from government contracts, policies, or regulations that they were in charge of overseeing. In many cases, they used their positions to secure favourable conditions for their enterprises, bypassing competitive bidding processes. This merging of business interests with power led to widespread corruption and misallocation of public funds. The result was a system where the line between public service and private gain became increasingly blurred.

As we turn a new chapter in our nation's history, we must ensure that future administrations do not fall into the same pattern. For that, the interim government must take concreate steps. For example, there is a need for strict regulations to ensure that elected public representatives cannot hold directorships in private companies while in office. Their finances should also be subjected to regular scrutiny. Moreover, an independent oversight body should be formed under a new law to prevent any potential conflicts of interest in public offices.