Tax intelligence finds money laundering evidence against removed BFIU chief
"AFM Shahinul Islam sent Tk1.11 crore to his daughter in Canada but declared only Tk10 lakh in taxes, laundering over Tk1 crore,” Md Abdur Rakib, NBR commissioner, says
The National Board of Revenue (NBR) has discovered that AFM Shahinul Islam, the recently removed head of the Bangladesh Financial Intelligence Unit (BFIU), allegedly laundered more than Tk1 crore to Canada.
The Income Tax Intelligence and Investigation Unit of the NBR also found a significant amount of money that was not declared in his tax file.
Md Abdur Rakib, commissioner of the NBR's Income Tax Intelligence Unit, told TBS today (10 September), "AFM Shahinul Islam transferred nearly Tk1.11 crore from his Eastern Bank account to his daughter Nova Islam in Canada. However, he declared only Tk10 lakh in his tax file. This means he illegally laundered more than Tk1 crore to Canada."
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According to tax intelligence sources, significant transactions were found in various bank accounts belonging to the former BFIU chief. The unit also found information about flats he owns, the value of which he allegedly concealed in his tax file.
When contacted for comment, Shahinul did not answer his phone. A message was sent to him via WhatsApp, but no response was received as of the time of writing this report at 10pm.
The government cancelled Shahinul's remaining tenure as the BFIU head on Tuesday, following a period of compulsory leave. This action came after a controversial video allegedly featuring him went viral on social media.
On 19 August, the Financial Institutions Division of the finance ministry formed a four-member committee to verify the authenticity of a viral "compromising video" of Shahinul.
The tax intelligence sources further said the former BFIU chief had transactions totalling over Tk4 crore in six different bank accounts between the 2018-19 and 2023-24 fiscal years. Additionally, the investigation uncovered a large volume of transactions through mobile financial services.
Furthermore, a flat in the capital's Siddheswari, registered in the name of his wife, Suma Islam, was found. The declared value of the property was Tk31.30 lakh, while the tax intelligence division claims its actual value was Tk71.85 lakh.
The flat where he currently resides, located in Pragati Sarani, is registered under his father-in-law's name, with a declared value of Tk4 lakh. Tax intelligence officials, however, state that the actual investment in that flat was over Tk30 lakh.
