<p>With the backing of the ousted government, two controversial businessmen, Salman F Rahman and Saiful Alam Masud, managed to loot approximately TK82,000 crore (6.9 million) from various banks in the country through their numerous organizations.</p>

<p>According to sources, by accumulating money through often unethical means, Salman F Rahman was able to take TK36,865 crore ever since the Awami League came into power in 2009, while S Alam’s meteoric business expansions helped his family gain TK45,000 crore in a very short amount of time.</p>

<p>With Salman F Rahman arrested in the capital’s Sadarghat area on Tuesday (Aug 13) and S Alam's hold on his businesses weakening following the ouster of the Awami League regime, regulators are finally beginning to take a stand against corruption.</p>

<p><strong>Also read:</strong>&nbsp;<a href="https://www.wionews.com/south-asia/bangladesh-recalls-seven-envoys-appointed-by-previous-sheikh-hasina-govt-750539">Bangladesh recalls seven envoys appointed by previous Sheikh Hasina govt</a></p>

<p>The National Board of Revenue (NBR) on Wednesday (Aug 14) sought after details of the bank accounts of his family members of industrialist Mohammad Saiful Alam, popularly known as S Alam.</p>

<p>The Tax Zone-15 of the revenue authority wrote a letter to 91 banks and non-bank financial institutions asking them to provide details of accounts of S Alam's wife Farzana Parvin, mother Chemon Ara Begum, and brother Abdullah Hasan.</p>

<p>Additionally, authorities have requested details of the bank accounts belonging to their parents, children, siblings, other family members, and any organisations they own.</p>

<p>Notably, as former private sector adviser to former prime minister Sheikh Hasina and vice-chairman of Beximco Group, Salman F Rahman and companies associated with him owe around Tk36,865 crore to seven banks in the country.</p>

<p>The banks implicated are Janata Bank, Sonali Bank, Rupali Bank, Agrani Bank, National Bank, IFIC Bank, and AB Bank.</p>

<p>From state-owned Janata Bank, Beximco Group alone utilised the entire lending capacity of the bank by taking loans totaling around Tk23,070 crore as of August 14, 2024.</p>

<p>Janata bank continued to finance Beximco-owned companies even after exceeding the single borrower exposure limit through taking special permission from the central bank.</p>

<p>As of August 14, Beximco Group has overdue loans amounting to $56 million from the Export Development Fund (EDF) in foreign currency, provided by Janata Bank. EDF loans are drawn from the foreign exchange reserve and are extended to exporters at a very low interest rate of 3% to 4%.</p>

<p><strong>Also read:&nbsp;</strong><a href="https://www.wionews.com/south-asia/sharia-rule-a-lifelong-responsibility-akhundzada-on-three-years-of-taliban-rule-in-afghanistan-750426">Sharia rule a 'lifelong responsibility': Akhundzada on three years of Taliban rule in Afghanistan</a></p>

<p>Despite these issues, Janata Bank did not take any action against Beximco Group and continued to provide financing until Salman F Rahman was arrested following the downfall of the Hasina government.</p>

<p>Bangladesh Bank suspended EDF financing with Janata Bank a year ago due to the overdue loans from Beximco Group.</p>

<p>While IFIC Bank also holds several smaller loans linked to Salman F Rahman.</p>

<p>Interestingly, these companies have secured around Tk150 crore to Tk200 crore in loans from the bank within 6 months to a year of their establishment.</p>

<p>Under his chairmanship, he allegedly abused the bank's resources through financial engineering.<br />
Salman F. Rahman's company Bloom Success International Limited has debts from National Bank totaling Tk836 crore.</p>

<p>Additionally, Beximco LPG Unit 1-2 owes Tk1,293 crore in loans from National Bank, and Salman's Beximco Group owes Tk823 crore.</p>

<h2><strong>New Bangladesh Bank governor to eliminate corruption</strong></h2>

<p>Newly-appointed Bangladesh Bank governor Dr Ahsan H Mansur on Wednesday strictly warned money launderers.&nbsp;</p>

<p><strong>Also read:&nbsp;</strong><a href="https://www.wionews.com/south-asia/i-want-justice-ex-bangladesh-pm-sheikh-hasina-issues-first-statement-after-aug-5-ouster-749884">‘Bangabandhu grossly insulted, I want justice...,’ Sheikh Hasina issues first statement after Aug 5 ouster</a></p>

<p>While addressing his first press conference, the governor said, “Those involved in money laundering in the country will not be allowed to sleep peacefully, as they will be held accountable under the law.”</p>

<p>He added, “The money will be recovered from money launderers through sustained efforts. To prevent money laundering, we will collaborate with authorities and enforce both domestic and international laws.”</p>

<p><em>(With inputs from agencies)</em></p>


With the backing of the ousted government, two controversial businessmen, Salman F Rahman and Saiful Alam Masud, managed to loot approximately TK82,000 crore (6.

With the backing of the ousted government, two controversial businessmen, Salman F Rahman and Saiful Alam Masud, managed to loot approximately TK82,000 crore (6.9 million) from various banks in the country through their numerous organizations. According to sources, by accumulating money through often unethical means, Salman F Rahman was able to take TK36,865 crore ever since the Awami League came into power in 2009, while S Alam’s meteoric business expansions helped his family gain TK45,000 crore in a very short amount of time. With Salman F Rahman arrested in the capital’s Sadarghat area on Tuesday (Aug 13) and S Alam's hold on his businesses weakening following the ouster of the Awami League regime, regulators are finally beginning to take a stand against corruption. Also read: Bangladesh recalls seven envoys appointed by previous Sheikh Hasina govt The National Board of Revenue (NBR) on Wednesday (Aug 14) sought after details of the bank accounts of his family members of industrialist Mohammad Saiful Alam, popularly known as S Alam. The Tax Zone-15 of the revenue authority wrote a letter to 91 banks and non-bank financial institutions asking them to provide details of accounts of S Alam's wife Farzana Parvin, mother Chemon Ara Begum, and brother Abdullah Hasan. Additionally, authorities have requested details of the bank accounts belonging to their parents, children, siblings, other family members, and any organisations they own. Notably, as former private sector adviser to former prime minister Sheikh Hasina and vice-chairman of Beximco Group, Salman F Rahman and companies associated with him owe around Tk36,865 crore to seven banks in the country. The banks implicated are Janata Bank, Sonali Bank, Rupali Bank, Agrani Bank, National Bank, IFIC Bank, and AB Bank. From state-owned Janata Bank, Beximco Group alone utilised the entire lending capacity of the bank by taking loans totaling around Tk23,070 crore as of August 14, 2024. Janata bank continued to finance Beximco-owned companies even after exceeding the single borrower exposure limit through taking special permission from the central bank. As of August 14, Beximco Group has overdue loans amounting to $56 million from the Export Development Fund (EDF) in foreign currency, provided by Janata Bank. EDF loans are drawn from the foreign exchange reserve and are extended to exporters at a very low interest rate of 3% to 4%. Also read: Sharia rule a 'lifelong responsibility': Akhundzada on three years of Taliban rule in Afghanistan Despite these issues, Janata Bank did not take any action against Beximco Group and continued to provide financing until Salman F Rahman was arrested following the downfall of the Hasina government. Bangladesh Bank suspended EDF financing with Janata Bank a year ago due to the overdue loans from Beximco Group. While IFIC Bank also holds several smaller loans linked to Salman F Rahman. Interestingly, these companies have secured around Tk150 crore to Tk200 crore in loans from the bank within 6 months to a year of their establishment. Under his chairmanship, he allegedly abused the bank's resources through financial engineering. Salman F. Rahman's company Bloom Success International Limited has debts from National Bank totaling Tk836 crore. Additionally, Beximco LPG Unit 1-2 owes Tk1,293 crore in loans from National Bank, and Salman's Beximco Group owes Tk823 crore. New Bangladesh Bank governor to eliminate corruption Newly-appointed Bangladesh Bank governor Dr Ahsan H Mansur on Wednesday strictly warned money launderers. Also read: ‘Bangabandhu grossly insulted, I want justice...,’ Sheikh Hasina issues first statement after Aug 5 ouster While addressing his first press conference, the governor said, “Those involved in money laundering in the country will not be allowed to sleep peacefully, as they will be held accountable under the law.” He added, “The money will be recovered from money launderers through sustained efforts. To prevent money laundering, we will collaborate with authorities and enforce both domestic and international laws.” (With inputs from agencies)

Bangladesh: How ex-pm Hasina's advisor looted 6.9 mn over the past 15 years

<p>&nbsp;</p>

<p>Bangladeshi Hindus are real traitors. They eat here, poop and pee here, make money here, but all they think of is India. And that&rsquo;s where they send all their wealth to. If you are in Bangladesh, it is nearly impossible to ignore this allegation against the minority community.&nbsp;</p>

<p>&nbsp;</p>

<p>There may not be any Hindus in Bangladesh who have not heard this allegation against them once in life. Or they hear it a lot and ignore it. &lsquo;&lsquo;Haven&rsquo;t you bought any properties in India?&rsquo;&rsquo; Muslims ask their Hindu neighbours or colleagues right in their faces. As if it is an old joke. Of course, there are people who show the decency not to crack this cheap sort of joke. But they surely discuss and talk about it behind their backs.&nbsp;</p>

<p>&nbsp;</p>

<p>And then there comes the word &lsquo;Malaun.&rsquo; For many Bangladeshi Muslims, Malaun is synonymous to Hindu. Owing to the wide usage of the word since the Partition of 1947, especially after the birth of Bangladesh in 1971, people have almost forgotten Malaun is a derogatory word.&nbsp;</p>

<p>&nbsp;</p>

<p>So what does Malaun mean? Malaun is an Arabic word, meaning &#39;accursed&#39; or &#39;deprived of God&#39;s Mercy&#39;, and in modern times, it is used as an ethnic slur by the Muslims in Bengal for Hindus. Political leaders from religious parties frequently abuse the Hindus as Malauns during the election rallies.</p>

<p>&nbsp;</p>

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<h5>Malaun is an Arabic word, meaning &#39;accursed&#39; or &#39;deprived of God&#39;s Mercy&#39;, and in modern times, it is used as an ethnic slur by the Muslims in Bengal for Hindus.</h5>
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<p>&nbsp;</p>

<p>Evidently, while serving as the president of Bangladesh, General Hussain Muhammad Ershad had referred to the Hindus as Malaun at a rally in Chhatak. &nbsp;</p>

<p>&nbsp;</p>

<p>I remember my teenage years. My best friend was a Hindu. Every now and then, one neighbour, whose son was our sports mate, would stop him pretty often by calling out, &lsquo;&lsquo;Hey Malaun!&rsquo;&rsquo; After asking him this and that, he would come to his usual joke part. &lsquo;&lsquo;Your father earns a lot,&rsquo;&rsquo; he would ask. &lsquo;&lsquo;Where this money goes?&rsquo;&rsquo;</p>

<p>&nbsp;</p>

<p>My friend would remain silent.</p>

<p>&nbsp;</p>

<p>&lsquo;&lsquo;Is he building any house in India? Spit out. I won&rsquo;t tell anybody.&rsquo;&rsquo; He assured my friend, patting his back.</p>

<p>&nbsp;</p>

<p>&lsquo;&lsquo;Yes, we are going to have a house in India,&rsquo;&rsquo; Once or twice my friend would answer jestfully. He had no choice. He couldn&rsquo;t be angry. When he had to face the same issue, again and again, and over again, he had to take it casually and as a joke.&nbsp; &nbsp;</p>

<p>&nbsp;</p>

<p>My own father was aware of my best friend. &lsquo;&lsquo;Don&rsquo;t spend much time with that Malaun,&rsquo;&rsquo; he told me a few times. He was the man who didn&rsquo;t like questions being asked. And I wouldn&rsquo;t bother him asking why. But he was polite enough never to say that word on my friend&rsquo;s face.&nbsp;</p>

<p>&nbsp;</p>

<p>Last month Bangladeshi business tycoon Salman F Rahman made headlines. His name appeared on the world billionaire&rsquo;s list as the first Bangladeshi. As reported by Hurun Global Rich List 2017, Salman is ranked 1685 in the list of 2257, and his net worth is $1.3 billion.&nbsp;</p>

<p>&nbsp;</p>

<p>Interestingly, last year in July, his house was set to be auctioned by the state-run Sonali Bank as he failed to repay his loan. It is worth noting that in the past Salman had been repeatedly named a defaulter.&nbsp;</p>

<p>&nbsp;</p>

<p>In Bangladesh, the default loan culture is growing. The aggregate amount of default loans was over Tk 1 trillion (Prothom Alo, May 19, 2016). Who knows where this money goes?&nbsp;</p>

<p>&nbsp;</p>

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<h5>Based on Malaysia My Second Home website report, Bangladeshis are third among the top 10 countries of migrants under this project.&nbsp;</h5>
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<p>A good number of defaulters presumably settle in Malaysia or in other countries. Based on Malaysia My Second Home website report, Bangladeshis are third among the top 10 countries of migrants under this project.&nbsp;</p>

<p>&nbsp;</p>

<p>And naturally when they migrate, with them their money migrates too. According to the Malaysian government rules, to settle there under this program, one requires to deposit liquid assets worth a minimum of RM 500,000 (about $113700) and show offshore income of RM 10,000 (about $2275) per month.</p>

<p>&nbsp;</p>

<p>The shocking thing is this money is smuggled out through illegal ways as the central bank of Bangladesh does not allow its nationals to take such huge amounts abroad without its approval. Interestingly, I have not heard Bangladeshi Muslims ever call these wealthy migrants traitors.&nbsp;</p>

<p>&nbsp;</p>

<p>Illegal capital flight from Bangladesh surged 33.78 per cent to $9.66 billion in 2013 through trade MISinvoicing and other channels, according to a report of Global Financial Integrity. The amount was more than six per cent of the country&#39;s GDP and one-third of the export receipts in 2013. It was three times the size of average foreign aid Bangladesh received in recent times. (The Daily Star, December 10, 2015).</p>

<p>&nbsp;</p>

<p>These money launderers ate in Bangladesh, pooped and peed in Bangladesh, and, of course, made this massive capital inside the map of Bangladesh. Never have I heard Bangladeshi Muslims spare a single word to term them traitors.&nbsp;</p>

<p>&nbsp;</p>

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<h5>Violence against Hindus in Bangladesh is becoming a regular incident.</h5>
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<p>&nbsp;</p>

<p>Violence against Hindus in Bangladesh is becoming a regular incident. Let us look at the most recent one in Nasirnagar. According to The New York Times, the attacks were set off by outrage over an image on Facebook depicting the Hindu god Siva at a Muslim holy site in the city of Mecca. On October 30, hundreds of angry Muslims ransacked 15 temples and the homes of more than 100 families in a Hindu neighborhood in Nasirnagar, northeast of Dhaka. The police did not intervene. Other attacks on Hindus took place across Bangladesh.&nbsp;</p>

<p>&nbsp;</p>

<p>It is certain that a large number of Bangladeshi Hindus have relatives in Kolkata or elsewhere in India. If a wee numbers decide to move there permanently, that is because they feel insecure in Bangladesh.&nbsp;</p>

<p>&nbsp;</p>

<p>Countless people, regardless of their religion, are leaving Bangladesh frequently to join their family and relatives living in the developed countries. We never mind. We never call them traitors.&nbsp;</p>

<p>&nbsp;</p>

<p>From time immemorial migration has been part of human history. In search of a better life, to have a bit secured future, to gain knowledge&mdash;people migrate for various reasons. No matter some are Muslims, Hindus, Christians or Jews.&nbsp;</p>

<p>&nbsp;</p>


The common allegation is that Bangladeshi Hindus are real traitors

Bangladeshi Hindus are real traitors. They eat here, poop and pee here, make money here, but all they think of is India. And that’s where they send all their wealth to. If you are in Bangladesh, it is nearly impossible to ignore this allegation against the minority community. There may not be any Hindus in Bangladesh who have not heard this allegation against them once in life. Or they hear it a lot and ignore it. ‘‘Haven’t you bought any properties in India?’’ Muslims ask their Hindu neighbours or colleagues right in their faces. As if it is an old joke. Of course, there are people who show the decency not to crack this cheap sort of joke. But they surely discuss and talk about it behind their backs. And then there comes the word ‘Malaun.’ For many Bangladeshi Muslims, Malaun is synonymous to Hindu. Owing to the wide usage of the word since the Partition of 1947, especially after the birth of Bangladesh in 1971, people have almost forgotten Malaun is a derogatory word. So what does Malaun mean? Malaun is an Arabic word, meaning 'accursed' or 'deprived of God's Mercy', and in modern times, it is used as an ethnic slur by the Muslims in Bengal for Hindus. Political leaders from religious parties frequently abuse the Hindus as Malauns during the election rallies. Malaun is an Arabic word, meaning 'accursed' or 'deprived of God's Mercy', and in modern times, it is used as an ethnic slur by the Muslims in Bengal for Hindus. × Evidently, while serving as the president of Bangladesh, General Hussain Muhammad Ershad had referred to the Hindus as Malaun at a rally in Chhatak. I remember my teenage years. My best friend was a Hindu. Every now and then, one neighbour, whose son was our sports mate, would stop him pretty often by calling out, ‘‘Hey Malaun!’’ After asking him this and that, he would come to his usual joke part. ‘‘Your father earns a lot,’’ he would ask. ‘‘Where this money goes?’’ My friend would remain silent. ‘‘Is he building any house in India? Spit out. I won’t tell anybody.’’ He assured my friend, patting his back. ‘‘Yes, we are going to have a house in India,’’ Once or twice my friend would answer jestfully. He had no choice. He couldn’t be angry. When he had to face the same issue, again and again, and over again, he had to take it casually and as a joke. My own father was aware of my best friend. ‘‘Don’t spend much time with that Malaun,’’ he told me a few times. He was the man who didn’t like questions being asked. And I wouldn’t bother him asking why. But he was polite enough never to say that word on my friend’s face. Last month Bangladeshi business tycoon Salman F Rahman made headlines. His name appeared on the world billionaire’s list as the first Bangladeshi. As reported by Hurun Global Rich List 2017, Salman is ranked 1685 in the list of 2257, and his net worth is $1.3 billion. Interestingly, last year in July, his house was set to be auctioned by the state-run Sonali Bank as he failed to repay his loan. It is worth noting that in the past Salman had been repeatedly named a defaulter. In Bangladesh, the default loan culture is growing. The aggregate amount of default loans was over Tk 1 trillion (Prothom Alo, May 19, 2016). Who knows where this money goes? Based on Malaysia My Second Home website report, Bangladeshis are third among the top 10 countries of migrants under this project. × A good number of defaulters presumably settle in Malaysia or in other countries. Based on Malaysia My Second Home website report, Bangladeshis are third among the top 10 countries of migrants under this project. And naturally when they migrate, with them their money migrates too. According to the Malaysian government rules, to settle there under this program, one requires to deposit liquid assets worth a minimum of RM 500,000 (about $113700) and show offshore income of RM 10,000 (about $2275) per month. The shocking thing is this money is smuggled out through illegal ways as the central bank of Bangladesh does not allow its nationals to take such huge amounts abroad without its approval. Interestingly, I have not heard Bangladeshi Muslims ever call these wealthy migrants traitors. Illegal capital flight from Bangladesh surged 33.78 per cent to $9.66 billion in 2013 through trade MISinvoicing and other channels, according to a report of Global Financial Integrity. The amount was more than six per cent of the country's GDP and one-third of the export receipts in 2013. It was three times the size of average foreign aid Bangladesh received in recent times. (The Daily Star, December 10, 2015). These money launderers ate in Bangladesh, pooped and peed in Bangladesh, and, of course, made this massive capital inside the map of Bangladesh. Never have I heard Bangladeshi Muslims spare a single word to term them traitors. Violence against Hindus in Bangladesh is becoming a regular incident. × Violence against Hindus in Bangladesh is becoming a regular incident. Let us look at the most recent one in Nasirnagar. According to The New York Times, the attacks were set off by outrage over an image on Facebook depicting the Hindu god Siva at a Muslim holy site in the city of Mecca. On October 30, hundreds of angry Muslims ransacked 15 temples and the homes of more than 100 families in a Hindu neighborhood in Nasirnagar, northeast of Dhaka. The police did not intervene. Other attacks on Hindus took place across Bangladesh. It is certain that a large number of Bangladeshi Hindus have relatives in Kolkata or elsewhere in India. If a wee numbers decide to move there permanently, that is because they feel insecure in Bangladesh. Countless people, regardless of their religion, are leaving Bangladesh frequently to join their family and relatives living in the developed countries. We never mind. We never call them traitors. From time immemorial migration has been part of human history. In search of a better life, to have a bit secured future, to gain knowledge—people migrate for various reasons. No matter some are Muslims, Hindus, Christians or Jews.

Neighbours, but not loved

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Bangladesh: How ex-pm Hasina's advisor looted 6.9 mn over the past 15 years

Neighbours, but not loved