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

Date of Event: Nov 11, 2024

Source: https://thefinancialexpress.com.bd/national/sheikh-hasina-was-a-classic-autocrat-m-sakhawat-hossain

Sheikh Hasina was a classic autocrat: M Sakhawat Hossain
Published :
Aug 05, 2024 22:03
Updated :
Aug 05, 2024 22:03

Sheikh Hasina was a classic autocrat who dismissed the people, and this disdain has led to her current predicament, according to Brigadier General (Retd) M. Sakhawat Hossain, an election analyst and former military officer. In a special interview with UNB news agency over the phone, he expressed these views.
He stated that today's events were inevitable and were bound to happen. "We have seen similar situations in Tunisia, Libya, and Syria. Popular uprisings are unstoppable. The student quota reform movement could have been resolved easily, but due to Prime Minister Sheikh Hasina's stubbornness, so many people lost their lives."

Hossain criticised the media's portrayal of the casualties, claiming that the true number is closer to 400, with a significant portion being students and young people. He questioned the whereabouts of the remaining bodies, mass graves, and the extent of innocent lives lost. "She has gone, but who will answer for this?" he asked.

He accused the ruling government of carrying out the "most heinous massacre" and of misleading the public by blaming criminals while those responsible were, in fact, their own countrymen. "Such things should not happen in a free country," he remarked.

Hossain also noted that for the past 15 years, people have been unable to vote properly, with widespread election fraud. He stated that Sheikh Hasina should have understood her and her party's unpopularity, and questioned who would be held accountable for the bloodshed. He criticized the severe lack of good governance, which he believes Sheikh Hasina failed to provide.

Furthermore, he alleged that Sheikh Hasina has created criminal gangs within the country and turned the police and Rapid Action Battalion (RAB) into her personal enforcers.

Reflecting on the plight of the family members of the so-called Father of the Nation, he questioned why they had to face such a tragic fate, attributing it to Hasina's arrogance and pride. He drew a parallel with the 2009 BDR mutiny, where 57 army officers were killed, and questioned who would answer for that incident as well.

He criticised Sheikh Hasina's control over TV media and her suppression of free speech, citing it as a reason he avoided talk shows. He claimed he had urged the Prime Minister in various meetings to ensure good governance, but was labelled as an 'agent of the opposition' for his criticisms.

"Today, Sheikh Hasina has fled the country, and now the army has had to take responsibility for the nation's situation," he concluded.​

 

[Saif]

Recover stolen funds as a top priority

$234 billion siphoned out of Bangladesh between 2009 and 2023 when Awami League was in power

www.thedailystar.net

Recover stolen funds as a top priority
$234 billion siphoned out of Bangladesh between 2009 and 2023 when Awami League was in power

Visual: Star

According to a government-commissioned white paper on the economy, presented to Chief Adviser Prof Muhammad Yunus on Sunday, an estimated $234 billion was siphoned out of Bangladesh between 2009 and 2023 while Awami League was in power. The report reveals that these laundered funds were primarily routed through or to countries such as the UAE, UK, Canada, US, Hong Kong, Malaysia, Singapore, and India, as well as various tax havens. These findings highlight the unprecedented economic damage inflicted on Bangladesh's economy under the Sheikh Hasina-led government.

The white paper emphasises that illicit financial outflows created a complex shadow economy that "thrived on criminal activities of diverse nature, and drew sustenance from an unholy alliance involving corrupt politicians, businessmen, financial players, middlemen, government officials, influence peddlers, and wheeler-dealers." Through rampant corruption and looting, the ousted AL government severely undermined the nation's institutions, rendering many completely dysfunctional. Regulatory bodies often remained silent or were complicit in the face of such corruption.

The report also outlines how individuals in this network plundered vast sums from the public treasury through fraudulent schemes before laundering them abroad, causing immense economic degradation. This massive outflow of wealth has drained the country's capital, hindering efforts to revive the economy and restore vital institutions such as the banking sector. Much of the laundered money was used to purchase real estate abroad or funnelled under the guise of business operations. The paper identifies 532 individuals of Bangladeshi origin owning real estate worth $375 million in Dubai, with 972 residential properties in the UAE valued at approximately $315 million. In Canada, between $47 billion and $100 billion was reportedly laundered, with similarly large sums transferred to other countries.

Recently, a joint investigation by the British newspaper The Observer and the Berlin-based anti-corruption organisation Transparency International revealed that close associates of Hasina, including former ministers and business owners, hold properties worth over £400 million (approximately Tk 6,000 crore) in the UK. Allegations suggest that these assets were purchased with laundered funds siphoned out of Bangladesh.

Further investigations will likely uncover additional instances of corruption and wealth laundering under the AL. It is, therefore, imperative for the interim government to thoroughly investigate these cases and begin recovering the stolen wealth as a top priority, given that financial crimes of this nature become harder to trace and recover over time.

The white paper committee has recommended establishing an independent prosecution body to pursue follow-up actions and recover these funds. The government must act promptly to implement this recommendation as well as other proposals outlined in the report. Our diplomatic channels and international connections should also be leveraged to freeze illicit funds and facilitate their return to Bangladesh. Holding accountable those responsible for plundering the nation's wealth is essential to prevent such crimes in the future.​

 

[Saif]

AL turned Bangladesh into kleptocratic state: Debapriya

Economist Debapriya Bhattacharya on Monday said that a kleptocracy was established from crony capitalism in the past 15 years under the Awami League regime ousted by a student-people uprising on August 5.

www.newagebd.net

AL turned Bangladesh into kleptocratic state: Debapriya
Staff Correspondent 03 December, 2024, 00:22

Debapriya Bhattacharya | File photo

Economist Debapriya Bhattacharya on Monday said that a kleptocracy was established from crony capitalism in the past 15 years under the Awami League regime ousted by a student-people uprising on August 5.

Politicians, businesspeople and civil and military bureaucrats established the kleptocracy, he said, highlighting the findings of the ‘White Paper on State of the Bangladesh Economy — Dissection of Development Narrative’ at a briefing at the planning commission in the capital.

Debapriya, who headed the 12–member white paper committee, blamed the successive general elections since 2014 for the origin of the kleptocracy.

To him, members of kleptocracy influenced and manipulated key facets of the economy to serve their vested interests, concealed by an illusory development narrative sustained by inflated and misleading data.

The briefing was arranged a day after submission of the ‘White Paper on State of the Bangladesh Economy’ to chief adviser Muhammad Yunus on Sunday.

Describing efforts by the members and support teams over the past three months, Debapriya, also a distinguished fellow of Centre for Policy Dialogue, said that the report would be made public in printed form in a month.

The paper stated that the country lost $16 billion annually on an average between 2009 and 2023 because of the illicit fund flow amid systemic tax evasion, misuse of exemptions, and poorly managed public finances under the AL regime.

The white paper also highlighted that $14–24 billion was lost to political extortion, bribery, and inflated budgets with the annual development programme projects worth $60 billion in the past 15 years.

Exploring the overall economy left behind by the AL regime, in 23 chapters, the 385-page white paper revealed that the banking sector was plagued by distressed assets of Tk 6.75 lakh crore as of June 2024, equivalent to the cost of constructing 14 Dhaka metro rail systems or 24 Padma Bridges.

Despite the fragile economic situation identified as the middle income country trap by committee member and economist Zahid Hussain, Debapriya said that they opposed the deferral of graduation from the least developed countries’ block from 2026.

He feared that such a decision might provide a political weapon to the ousted regime.

Indicating Sheikh Hasina who fled to India on August 5, Debapriya said that statements might be issued that the interim government ruined the LDC graduation platform laid by the AL regime.

Zahid Hussain narrated how the overstatement of the country’s gross domestic product by the AL regime had already put the country into a middle income country trap.

Besides, the loan trap due to foreign loans on high interest rates for implementing non-viable projects will cause sufferings for the next generations, said Mustafizur Rahmnan, a member of the committee.

Other committee members were also present at the briefing.

Debapriya made five recommendations, including formulation of a two-year policy by the interim government, the next six-month outlook and meetings with development and lenders.​

 

[Saif]

Economists estimate $30 billion looted during Hasina’s tenure: NYT

The New York Times on Wednesday published a report titled 'How a country’s economy was siphoned dry', in which Bangladesh's central bank governor, Ahsan Mansur, calculates that about $17 billion was siphoned out of the country’s financial system in the 15 years before the Sheikh Ha

thefinancialexpress.com.bd

Economists estimate $30 billion looted during Hasina’s tenure: NYT
FE ONLINE DESK
Published :
Dec 04, 2024 21:55
Updated :
Dec 05, 2024 01:23

The New York Times on Wednesday published a report titled 'How a country’s economy was siphoned dry', in which Bangladesh's central bank governor, Ahsan Mansur, calculates that about $17 billion was siphoned out of the country’s financial system in the 15 years before the Sheikh Hasina-led government fell in August this year.

However, the true value looted during Ms Hasina’s rule, before she left the country, might exceed $30 billion, the report said, citing other economists.

According to the report, Mr Mansur said that the money was taken using a network of financial schemes. He explained that what the perpetrators in the government and at some of the country’s biggest companies committed was effectively the largest bank heist in the history of money and it inflicted incalculable damage to the country’s economy.

“The highest level of political authority realized that the banks are the best place to rob,” said Mr. Mansur, an appointee of an interim government in Bangladesh. Afterwards, the perpetrators took control of the central bank and the ownership of several private banks and their boards of directors. The banks subsequently lent billions of US dollars to companies, some of which were fictional, and much of that money was illegally taken out of the country, the report added.

Mr Mansur, who worked at the International Monetary Fund for 27 years, said that while working for the IMF, he never witnessed “any country where the highest level of the government, with the help of some goons,” managed “the systematic robbing of the banks.”

Citing AKM Ehsan of the central bank’s investigation wing, the Bangladesh Financial Intelligence Unit, the New York Times mentioned that former Awami League lawmaker Saifuzzaman Chowdhury is now being investigated by the interim government. He was quoted as telling Al Jazeera that he was the subject of a “witch hunt” against members of Ms. Hasina’s government.

Efforts to reach Mr Chowdhury, as well as Ms Hasina, for comment were unsuccessful, the report added.

The NYT report also described how Mohammad Abdul Mannan, managing director of Islami Bank Bangladesh, was forced to resign, with inputs from him. Citing both Mr Mannan and Mr Mansur, it said that S Alam Group took control of Islami Bank and other banks.

Some banks in Bangladesh have been on life support. Even the healthy ones are unable to extend much credit and can only sporadically honor depositors’ withdrawals, Mr Mansur reportedly said.

The report said that even the central bank governor wonders which of the banks are worth saving.

Mr Mansur, who took over the central bank in August, recalled what he witnessed when first looking into the economy.

“Everything was a disaster,” he said.

However, now he exudes “cautious optimism," even though he believes things are coming back to a stable level.

Economic growth is unlikely this year, as the central bank governor indicates.

This “is not the year for economic growth,” Mr Mansur acknowledged but pointed to positive signs such as declining inflation and growing remittances. “We have to be satisfied with that,” he added.​

 

[Saif]

Awami League’s legacy of corruption should serve as a cautionary tale

TIB reveals how citizens were held hostage to bribery for everyday services

www.thedailystar.net

Awami League’s legacy of corruption should serve as a cautionary tale
TIB reveals how citizens were held hostage to bribery for everyday services

VISUAL: STAR

The fact that an estimated Tk 1.46 lakh crore was paid in bribes for services during the 15 years of Awami League rule is truly mindboggling. This estimate was derived by Transparency International Bangladesh (TIB) from an analysis of six household surveys conducted between 2010 and 2023. The most recent survey, which assessed the extent of corruption between May 2023 and April 2024, revealed that 70.9 percent of respondents encountered corruption while seeking services, collectively paying a total of Tk 10,902 crore in bribes.

Among the sectors analysed, passport services were identified as the most corrupt (86 percent of respondents), followed by the Bangladesh Road Transport Authority (85.2 percent), law enforcement agencies (74.5 percent), judicial services (62.3 percent), and land services (51 percent). Overall, 50.8 percent of surveyed households reported paying bribes or being forced to pay extra for services. These findings underscore how the former regime normalised corruption, compelling citizens to engage in unethical practices to access basic services.

Shockingly, the highest average bribe amount was recorded in the judicial services sector, at Tk 30,972 per household. The fact that individuals were forced to resort to unlawful measures even for legal assistance underscores the extent to which the regime undermined law and order. This not only points to the institutional decay during its tenure but also reveals that, far from maintaining a "zero-tolerance" stance on corruption as claimed, Awami League turned the country into a mafia state. Citizens were left at the mercy of systemic corruption, while mechanisms for accountability completely collapsed. Given this, rebuilding a system of checks and balances to steer the country away from this cesspool of corruption will understandably require substantial time and effort.

The consequences of such widespread corruption were catastrophic, disproportionately affecting low-income and marginalised groups. The survey also found that corruption rates were higher when individuals sought services in person compared to when using online or mixed methods, even though the latter approaches were not without flaws.

Following the ouster of the corrupt and fascist AL regime, the nation has placed high expectations on the interim government. Chief among these is the hope for substantial measures to dismantle institutionalised corruption that spread like cancer. To this end, the current government must strictly implement TIB's recommendations—such as full digitisation of services, introduction of one-stop service systems, and strong legal action against those involved in corruption. Additionally, it must comprehensively reform institutions tasked with combating corruption, such as the Anti-Corruption Commission.​

 

[Saif]

Probe into high-profile corruption cases stalled

The Anti-Corruption Commission has failed to file any case against four high-profile corruption suspects, including former inspector general of police Benazir Ahmed and former revenue board official...

www.newagebd.net

Probe into high-profile corruption cases stalled
Solamain Salman 07 December, 2024, 00:17

File photo

The Anti-Corruption Commission has failed to file any case against four high-profile corruption suspects, including former inspector general of police Benazir Ahmed and former revenue board official Matiur Rahman, as it has yet to complete its probe into allegations against them.

The two other corruption suspects are former army chief general Aziz Ahmed, and former Dhaka metropolitan police commissioner Asaduzzaman Mia.

All the four former government high officials face allegations of amassing massive illegal wealth at home and abroad and laundering money.

All the four inquiries have by now gone past the 75-day time allowed by the ACC rules to complete an inquiry.

The commission, on completion of a probe into allegations against a corruption suspect, files a case against the person on finding adequate evidence.

Officials said that the ongoing inquiries had already found information on a huge amount of moveable and immovable assets owned by all the four corruption suspects.

Besides the sluggish pace of these much-talked-about probes, allegations of negligence are also there against its officials tasked with these inquiries.

Experts say that failure to complete the inquiries in due time would let the corruption suspects find ways out of the ACC net, limiting the commission’s scope to lay claim on the wealth they have gained allegedly through illegal means.

The commission during its inquiry found a vast amount of illegal movable and immovable assets of former police chief Benazir and former president of the NBR’s Customs, Excise, and VAT Appellate Tribunal, Matiur Rahman and their family members, but as of December 5 it has not filed any case.

Besides, there is also no visible progress in the ACC inquiries against former army chief Aziz Ahmed and former DMP chief Asaduzzaman over allegations of corruption.

Refusing allegations of negligence, anti-corruption commission director general (prevention) Md Aktar Hossain told New Age, ‘We are conducting sincere probes against them and are hopeful to complete the inquiries soon.’

‘We would file case action against them based on the inquiry reports and after the approval of the commission,’ he added.

‘Delays in inquiry, investigation and trial might benefit corruption suspects,’ said Transparency International Bangladesh executive director Iftekharuzzaman.

‘Failure to complete inquiry, and investigation in due time creates many scopes for corruption suspects to find ways out of the ACC net,’ he said.

Amid massive allegations of corruption, the commission on April 18 decided to run an inquiry into the assets of Benazir and his family members, but Benazir left the country 15 days after the probe had been launched.

Before his departure, the former police chief withdrew Tk 13 crore from his bank accounts and is now staying abroad along with his family.

More than seven months have elapsed now since the inquiry had begun, but the ACC inquiry team, led by its deputy director, Hafizul Islam, has yet to complete the inquiry or file a case against him despite available information about his illegal wealth, said commission officials.

According to the commission’s findings, Benazir and his family members amassed illegal wealth of around Tk 44 crore.

Of the assets, Benazir amassed illegal wealth worth around Tk 9.25 crore, and his wife Jissan Mirza owned Tk 21.34 crore.

The couple’s elder daughter, Farheen Rishta has amassed illegal wealth worth Tk 8.10 crore, and another daughter, Tahseen Raisa has become owner and wealth worth Tk 4.76 crore.

Apart from this, the inquiry also found that 25 acres of land at Bandarban Sadar was taken on lease in Benazir’s name, two plots in the names of Benazir and his wife Jissan Mirza in Munshiganj, Jissan Mirza also owned a seven-storey building at the capital’s Uttara, and six flats in Dhaka’s Adabar area.

The value of these assets was not mentioned anywhere, and the value of these assets has not been determined in the inquiry, according to the findings.

Matiur Rahman was first exposed to public scrutiny after 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 this year.

The goat scandal involving his son brought his assets under the anti-corruption agency’s scrutiny on June 4 of this year for the fifth time in the past two decades.

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

The ACC officials allegedly gave Matiur clean chits in each of the four inquiries due to his influence.

During the ongoing inquiry, the commission 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 owned by Matiur and his family members.

The commission also found his eight apartments in Dhaka, a multi-storey building in the capital’s Bashundhara residential area.

The anti-corruption commission, on August 18, decided to conduct an inquiry against former Dhaka Metropolitan Police chief Asaduzzaman Mia over allegations of amassing illegal wealth.

More than three months have elapsed, but the commission’s inquiry team is yet to complete the inquiry against Asaduzzaman.

According to the allegations, Asaduzzaman’s family took advantage of legalising undisclosed money by investing in the real estate sector and hid information to get a Rajdhani Unnayan Kartripakkha plot.

His daughter, Ayesha Siddika, legalised Tk 1.72 crore by purchasing a flat in 2020, while his wife, Afroza Zaman, got a 7-katha plot under a special provision by violating the rule.

Media reports said that Asaduzzaman and his family members own a huge amount of wealth, including flats, plots, and houses.

In Dhaka, his wife owns a house and two flats and his daughter owns a flat.

Moreover, 233 decimals of land have been found in the names of Asaduzzaman’s wife and children in Gazipur and Narayanganj districts.

The commission, on September 4, decided to carry out an inquiry against former army chief retired General Aziz Ahmed over allegations of amassing massive illegal wealth.

No visible progress has been made so far in the probe against the retired general.

According to the allegations, Aziz has several houses, including in DOHS at Mirpur and Nikunja in Dhaka.

He also allegedly purchased houses and several hundred bigha of land in the names of his younger brothers, including Tofayel Ahmed in Dhaka.

Aziz also laundered money through hundi and banking channels for business purposes and purchasing property in Malaysia, Singapore, and Dubai, according to commission officials.

Corruption allegations against Aziz came to the fore after the United States imposed sanctions on him and his immediate family members on May 21, citing his alleged involvement in serious corruption.​