Ex-minister Mannan clarifies sources of son’s assets

Former planning minister Mannan has responded to a TBS report published on 4 February regarding the Tk213 crore assets of his son, Sadat Mannan, providing clarification on the sources of his income.

In a statement to TBS today (6 February), the former minister clarified the sources of income for himself, his wife Zolekha Mannan, and daughter Sarah Mannan, saying they have been regularly submitting tax returns to the relevant authorities both in Bangladesh and abroad.

Mannan's son lives in the UK while his daughter lives in the US.

The TBS report, titled "Tk213cr assets of ex-minister Mannan's son under NBR scanner," mentioned that the Central Intelligence Cell (CIC) of the NBR identified assets worth nearly Tk213 crore owned by Sadat.

These include seven apartments in Dhaka and other assets in Dhaka and Sunamganj, as well as assets in the UK and Switzerland. Sadat, a UK passport holder, disclosed this in his 2024 tax return but did not specify the income sources, according to NBR.

In response, Mannan said, "My son Sadat Mannan has been living permanently in the UK since 1996. After graduating from LSE [London School of Economics] in 2000, he joined a multinational British bank as an officer in 2001 and has served in various positions, including managing director, until 2020.

"He was an MD in another British investment Bank from 2020 to 2024. Over these years, he received considerable pay, allowances and bonuses which he invested in buying leasehold properties, four in the UK and one in Switzerland."

Mannan said, "These properties are still under mortgage with banks for which he pays regular instalments. In 2022, he purchased seven 40-year-old flats in Banani from his Khalu [maternal uncle], who is a doctor living permanently in Canada."

"Sadat also purchased seven bighas of agricultural land at Shantiganj upazila in Sunamganj, my rural home," he said, adding that Sadat has been submitting his annual tax statements both to the British and Bangladesh governments.

"My daughter Sara Mannan received her MBBS degree from Dhaka in 2000 and has been living in the USA with her engineer husband, both US nationals now, from 2001 until now," he said.

"My daughter and son are not dependent on me," said the former minister.

"I do not possess any bank account abroad. My wife served in a respected Mohila college in Dhaka for 45 years. She inherited considerable property in Dhaka from which she has been receiving steady income over the years," he said.

"I was a public servant in BCS Cadre for 29 years [from 1974 to 2003] during which I received regular pay, allowances and other usual facilities," Mannan said.

"From 2009 to 2024 August, I served as an MP, state minister and a cabinet minister. During this period, I received my usual pay and allowances etc. Additionally, I have also been receiving due pension until now. My wife and I invested our incomes in various government savings instruments and received due income," he said.

"My wife and I have been submitting tax returns to the NBR [National Board of Revenue] through our lawyers every year. As a law-abiding citizen, I remain prepared to provide all information to the respective authorities as and when required," he added.