NBR orders unfreezing of Khaleda Zia’s bank accounts after 17 years

The National Board of Revenue (NBR) has ordered to unfreeze the bank accounts of former Prime Minister Khaleda Zia, following a decision by its newly appointed chairman and consultations with the Chief Adviser. The Monday’s move comes after 17 years of the accounts being frozen.

Official sources revealed that the Central Intelligence Cell (CIC) has issued a notification regarding the unfreezing, which will be sent to all financial institutions by Tuesday.

In 2007, during the caretaker government’s tenure, the bank accounts of both Khaleda Zia and Sheikh Hasina were frozen. While Sheikh Hasina’s accounts were later unfrozen by the CIC, Khaleda Zia’s accounts remained blocked despite multiple requests from the Bangladesh Nationalist Party (BNP) over the past 15 years of the Awami League regime.

A senior NBR official explained to the FE that according to Section 116A of the previous income tax ordinance, bank accounts frozen by tax authorities should automatically be unfrozen after one year. However, banks and financial institutions continued to keep Khaleda Zia’s accounts frozen, fearing the issue's sensitivity.

The official added that Khaleda Zia’s tax lawyer had submitted a request for the release of the frozen accounts, which prompted the CIC to take action.

[email protected]