The Financial Express

Bangladeshis' names now surface in Paradise Papers

| Updated: November 19, 2017 12:44:01

Bangladeshis' names now surface in Paradise Papers

Names of at least nine Bangladeshis, five of them are of the same family, have surfaced in The Paradise Papers.

The family members are BNP Vice Chairman Abdul Awal Mintoo, his wife Nasreen Fatema Awal and their three sons—Tabith Mohammed Awal, Tafsir Mohammed Awal and Tajwar Muhammed Awal.

Mintoo and his family are shareholders of NFM Energy Ltd, a gas drilling company.

However, it is not directly said whether they have built their wealth illegally or not.

The other Bangladeshis are  Farida Moghul, Shahid Ullah, Globec Asia Limited and Globec Asia holdings Limited’s Foysal Chowdhury,  and Dragon Capital Clean Development investment Limited’s Samir Ahmad.

The International Consortium of Journalists (ICIJ) unveiled The Paradise Papers, a collection of more than 13 million files, in the first week of this month.

The documents revealed secret financial practices of some of the wealthiest companies and people across the world.

A hefty amount of tax or legal complexities over the source of wealth can be avoided by investing money through offshore companies.

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