Bank accounts of ex-BSEC chairman Shibli Rubayat, seven others frozen

The Bangladesh Financial Intelligence Unit (BFIU) has issued an order to freeze the bank accounts of eight individuals, including former Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Shibli Rubayat-Ul Islam and his son Juhair Sharar Islam.

The list also includes Md Syedur Rahman, the former president of the Bangladesh Merchant Bankers Association (BMBA), controversial stock market figure Mohammad Abul Khair, and Javed A Matin, another well-known personality in the stock market. Additionally, Moniza Chowdhury from the asset management company CWT is among those affected.

The suspension order was issued to banks on Tuesday. The other two individuals whose accounts have been suspended are Mohammad Delowar Hossain and Shariful Islam.

According to the BFIU’s directive, all accounts under the names of the mentioned individuals, as well as those of associated entities, must be frozen for 30 days.

Banks have also been instructed to submit detailed information about these accounts to the BFIU within five working days.

The BFIU has stated that no transactions can be made in these accounts during the 30-day suspension period. Officials from Bangladesh Bank have indicated that the suspension period may be extended if necessary for the investigation.