4 Dhaka cos siphon off Tk382cr in guise of export: CIID  | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
June 11, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JUNE 11, 2025
4 Dhaka cos siphon off Tk382cr in guise of export: CIID 

Bangladesh

TBS Report
14 March, 2023, 10:30 pm
Last modified: 14 March, 2023, 10:38 pm

Related News

  • Salman F Rahman, son, 35 others sued over Tk1,174cr embezzlement from IFIC Bank
  • ACC sues AnonTex Group chairman, 5 others over Tk85cr embezzlement from Janata Bank
  • 'Blatant lies': Nahid's ex-PA Atik addresses allegations of misappropriating Tk150cr from Nagad
  • Tk404 crore embezzlement: Case filed against Saad Musa Group chairman, 15 others
  • ACC sues ex-MP Poton, 4 others over embezzling fertiliser worth Tk1,084 crore

4 Dhaka cos siphon off Tk382cr in guise of export: CIID 

There is no scope of bringing foreign currency back in a legal way, CIID says

TBS Report
14 March, 2023, 10:30 pm
Last modified: 14 March, 2023, 10:38 pm
4 Dhaka cos siphon off Tk382cr in guise of export: CIID 

Four companies, based in Dhaka, have allegedly siphoned off around Tk382 crores in the guise of readymade garment exports, claims the Customs Intelligence and Investigation Directorate (CIID). 

CIID, in a briefing on Tuesday, claimed that the four companies – Sabiha Saiki Fashion, Asia Trading Corporation, Emu Trading Corporation, and Ilham Trading Corporation – exported goods by forging export permissions. 

For this, the foreign currencies in exchange for the exported products did not return to the country, CIID officials say. 

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Mohammad Fakhrul Alam, the director general of CIID, said "During an operation carried out in North Patenga in Chattogram city on 31 January, customs officials found initial evidence of the forgery done by Sabiha Saiki Fashion. They checked its nine consignments kept in seven containers and found multiple undeclared products there."

According to the export declaration, the company will export T-shirts and women's wear. But in the consignments, they found children's wear, jeans pants, leggings, shirts, and shawls, the CIID Director General said. 

These companies have exported various products including t-shirts, tops, ladies' dresses, trousers, baby sets, bags, polo shirts, jackets, pants, and hoodies to United Arab Emirates, Malaysia, Singapore, Qatar, United Kingdom, Saudi Arabia, and Nigeria.

Later, the Joint Director of Chittagong Customs Intelligence formed an eight-member committee to investigate the matter.

Referring to the information received during the investigation, Mohammad Fakhrul Alam said Sabiha Saiki Fashion exported 86 consignments of goods at different times. The exchange value of the products exported by this organisation was Tk18.45 crore.  

On perusal of the documents of the consignments of the goods, the probe body found that the Export Permissions (EXPs) issued by them were in the names of different companies. But a permit cannot be used for more than one export shipment.

There is no opportunity to bring foreign currency back to the country in a legal way as these multiple EXPs are not functional, Fakhrul Alam said.

The investigation also revealed that alongside Sabiha Saiki Fashion, three other exporters have committed similar fraud. 

"The four have committed similar fraud in shipments of 1,780 products, weighing 18,265 tonnes, using the same tactic. The declared value of their exports is now Tk382 crores," the CIID boss said. 

Out of this, Sabiha Saiki Fashion exported goods worth Tk21 crore, Asia Trading Corporation Tk282 crore, Emu Trading Corporation Tk62 crore, and Ilham Corporation Tk17 crore.

embezzlement / CIID

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • File Photo: TBS
    DGHS issues 11-point directive to prevent spread of Covid-19 in Bangladesh
  • Rizvi at a briefing at BNP’s Nayapaltan central office on 11 June. Photo: Collected
    Yunus-Tarique meeting to usher in a fresh breeze for democracy: Rizvi
  • Members of law enforcement work to clear the area, as protests against federal immigration sweeps continue, in downtown Los Angeles, California, US June 10, 2025. Photo: REUTERS
    US cities brace for more protests as parts of Los Angeles placed under curfew

MOST VIEWED

  • Illustration: Duniya Jahan/ TBS
    Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon
  • A file photo of Bangladesh Bank Governor Dr Ahsan H Mansur. Photo: Collected
    'I have no relation with this': Ahsan Mansur debunks Joy’s allegations over daughter’s Dubai flat
  • Faiz Ahmad Tayeb. Photo: BSS
    Import duty on raw materials for e-bikes, lithium batteries reduced from 80% to 1% in some cases: Faiz Taiyeb
  • Screengrab from video shows a group of local youths forcing tourists to leave a tourist spot in Utmachhra area of Sylhet's Companiganj on Sunday, 8 June 2025, citing allegations of obscene activities and environmental damage
    Locals declare tourist spot in Sylhet 'closed', force visitors to leave
  • Shakil Ahmed. Photo: Collected
    DU student allegedly hangs himself following threats over old derogatory comment about Prophet on Facebook
  • Photo shows the Land Cruiser Prado car belonging to former member of parliament (MP) Anwarul Azim Anar found in Kushtia. Photo: TBS
    Luxury car of ex-AL MP Anar, who was killed in Kolkata, found in Kushtia

Related News

  • Salman F Rahman, son, 35 others sued over Tk1,174cr embezzlement from IFIC Bank
  • ACC sues AnonTex Group chairman, 5 others over Tk85cr embezzlement from Janata Bank
  • 'Blatant lies': Nahid's ex-PA Atik addresses allegations of misappropriating Tk150cr from Nagad
  • Tk404 crore embezzlement: Case filed against Saad Musa Group chairman, 15 others
  • ACC sues ex-MP Poton, 4 others over embezzling fertiliser worth Tk1,084 crore

Features

Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

19h | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

2d | Features
Photo collage shows political posters in Bagerhat. Photos: Jannatul Naym Pieal

From Sheikh Dynasty to sibling rivalry: Bagerhat signals a turning tide in local politics

4d | Bangladesh
Illustration: TBS

Unbearable weight of the white coat: The mental health crisis in our medical colleges

6d | Panorama

More Videos from TBS

Covid-19 testing to resume at hospitals amid rising infections

Covid-19 testing to resume at hospitals amid rising infections

24m | TBS Today
Curfew ordered in downtown Los Angeles after looting and vandalism

Curfew ordered in downtown Los Angeles after looting and vandalism

1h | TBS World
Israel kidnapped me in international waters: Greta Thunberg

Israel kidnapped me in international waters: Greta Thunberg

2h | TBS World
Is the chief adviser's meeting with the British Prime Minister uncertain?

Is the chief adviser's meeting with the British Prime Minister uncertain?

3h | TBS Stories
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net