BFIU seeks bank details of 3 ex-governors, 6 ex-deputy governors

The Bangladesh Financial Intelligence Unit (BFIU) has directed all banks to provide detailed account information of three former Bangladesh Bank governors and six former deputy governors who served during the 2009–2024 Awami League regime.

The move comes following a request from the Anti-Corruption Commission (ACC) as part of an investigation into allegations of corruption and mismanagement in the banking sector.

In letters sent on 6 August, the BFIU instructed banks to submit account opening forms, transaction records, Know Your Customer (KYC) documents and all related details within three working days. "If any accounts have been closed, that information must also be provided," the notice stated.

Information regarding the letters surfaced in the media today (13 August), and a senior official of BFIU confirmed this development to TBS. 

The former governors under scrutiny are Dr Atiur Rahman, Fazle Kabir and Abdur Rouf Talukder, all of whom served during the AL's 15-and-a-half-year tenure. 

According to media reports, Atiur is believed to have left the country after the fall of the Awami League government, while Abdur Rouf resigned via email on 7 August last year while in hiding.

The six former deputy governors include Sitangshu Kumar Sur Chowdhury (SK Sur), currently in jail in a corruption case after the government's fall, and former BFIU head Md Masud Biswas, who was forced to resign.

Others are Abu Hena Mohammad Razee Hasan, who served as BFIU head before Biswas, as well as SM Moniruzzaman, Kazi Sayedur Rahman, and Abu Farah Md Nasser. 

Allegations against former governors

Dr Atiur Rahman's tenure, 2009 to 2016, has been linked to weak regulatory oversight, which allegedly enabled major scandals such as the Hall-Mark and Bangladesh Small Industries and Commerce Bank Limited (BASIC) Bank loan scams.

He is also accused of being a "mastermind" behind the cover-up of the 2016 Bangladesh Bank reserve heist, an event that ultimately led to his resignation, reports UNB.

Fazle Kabir, governor from 2016 to 2022, is alleged to have approved the controversial takeover of Islami Bank Bangladesh and Social Islami Bank by the S Alam Group "in the dead of night," paving the way for large-scale looting at the banks. 

He is also accused of relaxing loan policies to conceal default loans, keeping interest rates artificially low at 9% and introducing methods for loan defaulters to get off with minimal payments.

Abdur Rouf Talukder, governor from 2022 until August last year, is accused of continuing fraudulent loan practices, failing to address irregularities and issuing policies favourable to loan defaulters. 

He allegedly authorised printing new money to supply funds to S Alam Group-owned banks.

According to sources, Atiur managed to go aboard despite his passport being "blocked" over his alleged role in the reserve heist. Fazle Kabir is thought to still be in the country but has avoided public appearances, while Abdur Rouf reportedly went into hiding after 5 August last year.

Allegations against deputy governors

Among the six former deputy governors, SK Sur Chowdhury and former BFIU chief Masud Biswas are currently in jail on charges of amassing wealth beyond known sources of income, reports UNB.

Allegations against the others include: Moniruzzaman, accused of halting bank inspections during his tenure; Razee Hasan, accused of failing to curb money laundering; Saidur Rahman, blamed for triggering turmoil in the foreign currency market; and Mohammad Naser, accused of crippling the banking sector by excessively relaxing loan policies.