The bank accounts of 8 people including former BSEC chairman Shibli Rubaiyat have been suspended

The bank accounts of eight people, including Shibli Rubaiyat ul Islam, the former chairman of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC), have been suspended. Bangladesh Financial Intelligence Unit (BFIU) issued this order to banks on Tuesday (August 20).

The list includes Shibli Rubaiyat's son Juhayer Sarar Islam, former president of Bangladesh Merchant Bankers Association (BMBA). Chayedur Rahman, discussed in capital market manipulation. Abul Khair Hiru, capital market's prominent person Javed A Matin, wealth management company CWT Monija Chowdhury, Md. Delwar Hossain and Shariful Islam. The identities of the last two on the list were not immediately known.

BFIU has directed to suspend all past and present accounts in the name of the persons and their related persons and institutions for a period of 30 days. Besides, the details of these calculations have been asked to be submitted to the BFIU within five working days.

BFIU said, for the next 30 days, no transactions can be done in the name of these persons and their related institutions. Officials of Bangladesh Bank said that the period of suspending transactions as a bank will be extended due to investigation.

According to the directive, the banks and financial institutions shall send the relevant information or documents of all the suspended bank accounts, such as: account opening form, KYC and transaction statement etc., to the BFIU within five working days from the date of the letter.