Bank accounts of former BSEC chair, his son, six others frozen

The Bangladesh Financial Intelligence Unit (BFIU) has issued an order to freeze the bank accounts of eight individuals, including former chairman of the Bangladesh Securities and Exchange Commission (BSEC) Shibli Rubayat-Ul Islam and his son Juhair Sharar Islam.
Additional director Mr. Kamal Hossain of BFIU confirmed this to The FE.
The other names on the list are Md Syedur Rahman, former president of the Bangladesh Merchant Bankers Association (BMBA), controversial stock market investor Mohammad Abul Khair, and Javed A Matin, another well-known personality in the stock market. Additionally, Moniza Chowdhury from the asset management company CWT will face the action.
The account suspension order was issued to banks on Tuesday. The other two individuals whose accounts have been suspended are Mohammad Delowar Hossain and Shariful Islam.
According to the BFIU's directive, all accounts opened in the name of the individuals, as well as those of associated entities, must be frozen for 30 days.
Banks have also been instructed to submit detailed information about these accounts to the BFIU within five working days.
The BFIU has stated that no transactions should be made in these accounts during the 30-day suspension period. Officials from the Bangladesh Bank have indicated that the suspension period may be extended if necessary for the sake of investigation.

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