United News of Bangladesh

Over the past 11 months, Bangladesh’s anti-graft landscape has unfolded with a mix of progress, as the Anti-Corruption Commission (ACC) has wrapped up 249 cases since December 2024, but with more than half ending up in acquittal. From December 2024 to October 2025, 512 cases were filed against corrupt people both at home and abroad, including money launderers, state fund embezzlers, loan defaulters and various government, private and political figures. During the same period, 249 pending cases were resolved, resulting in convictions in 126 cases and acquittal in 123. The ACC also reported recovering fines amounting to Tk 5,058 crore and confiscating assets worth Tk 321 crore. Read more: Recovered gold not only Hasina’s, includes family members too, says ACC According to 11 months of case and charge sheet statistics, the ACC received 11,630 complaints, but only 960 were accepted for inquiry. Meanwhile, 798 enforcement operations were conducted, of which 188 are under investigation, 28 have resulted in cases, and four people were caught red-handed through traps. Besides, 23 public hearings were held. During this period, the ACC says, a total of 512 cases were filed implicating 2,191 accused individuals. Charge sheets were submitted in 315 cases, naming 1,078 accused.  A total of 73 cases were exempted under FRT (final report). Following the fall of the Awami League government amid mass protests on August 5 last year, the ACC began investigating corruption by top politicians, businessmen and institutions. The commission found evidence of money laundering and corruption, prompting a series of cases and subsequent court orders to freeze and confiscate assets — a process that continues. In the aftermath of the mass uprising, the ACC claimed it had achieved record success in its crackdown on corrupt individuals, confiscating and freezing unprecedented amounts of movable and immovable assets. Between December 2024 and October 2025, the ACC seized and froze assets worth more than Tk 26,013 crore belonging to over 300 individuals and entities involved in corruption, embezzlement and money laundering. By comparison, the total value of confiscated and frozen assets in all of 2024 was only Tk 361 crore. In the five years from 2020 to 2024, the combined figure stood at roughly Tk 3,450 crore, highlighting the dramatic surge in asset seizures over the past 11 months. According to ACC’s asset management division and court sources, Tk 3,457 crore 83 lakh worth of assets were confiscated within the country during this period. Besides, domestic bank and financial accounts containing Tk 22,226 crore 79 lakh were frozen, along with Tk 328 crore 38 lakh frozen abroad. In total, around Tk 26,013 crore 2 lakh 93 thousand in assets were confiscated or frozen both domestically and internationally. Commenting on the overall development, ACC Commissioner Miah Muhammad Ali Akbar Azizi said, “I want to emphasise that the ACC is empowered with substantial legal authority. To expedite judicial proceedings, more special courts are required.” Read more: ACC approves chargesheet against former IGP Benazir Ahmed ACC has not yet become the fully empowered institution it needs to be, said its Chairman Mohammad Abdul Momen. Responding to a question on whether the ACC is a ‘toothless tiger’, he said, “The ACC has both teeth and claws — though they may need further sharpening. The teeth are not as sharp as they need to be. The claws have not fully grown yet. We are somewhere in the middle stage.” When asked whether the ACC faces political or external pressure, the chairman issued a strong warning, saying that anyone attempting to hinder corruption inquiries or investigations in the future will have their names publicly disclosed. He emphasised that combating corruption is not solely the responsibility of the ACC. Each government, autonomous, and private institution must strengthen their own audit mechanisms. “If institutions took action against corrupt officials based on their internal audit reports, many cases would not even need to come to the ACC,” he said. Sharing data on recent ACC activities, Momen noted that an analysis of the 11 months from December 2024 to October 2025 shows that politicians account for the lowest number of ACC cases. During this period, 151 cases were filed against politicians, while only 28 cases resulted in charge sheets. The chairman’s comments underline both the structural limitations of the ACC and the growing expectation for greater transparency, especially with the new warning to expose those who attempt to exert undue influence. Read more: ACC to reveal names if pressure exerted to obstruct probe: Chairman

Bangladesh Bank has ordered all scheduled banks to promptly update loan repayment data as prospective MP candidates, many of them business and political figures, scramble to clear defaults and overdue installments to remain eligible for the national polls. Managing directors of various banks, non-bank financial institutions (NBFIs), and Bangladesh Bank officials said they are receiving a surge in applications for loan regularisation. In response, the Credit Information Bureau (CIB) of Bangladesh Bank (BB) has issued a strict directive to all banks and financial institutions nationwide, ordering rapid updates of loan-related data to confirm the financial eligibility of potential candidates. Bangladesh Bank eases SME loan rules for refinance fund amid rising defaults Bangladesh Bank officials said on Saturday that even if a borrower secures a stay order from a court, financial institutions must report the accurate status of the loan to the CIB without any alteration. The central bank emphasised that there will be no scope to conceal information or offer ‘arbitrary’ concessions. A special meeting was held on October 29 with CIB representatives from all banks and NBFIs, where institutions were informed of the government’s firm instruction to complete loan data updates before the election to ensure no loan defaulter can contest. “The Bangladesh Bank has made it clear that the government will not allow any loan defaulter to become a candidate in the upcoming election,” said a CIB official. Arif Hossain Khan, Executive Director and spokesperson of Bangladesh Bank, said the central bank is updating customers’ loan statuses as per government instructions. He added that providing updated credit information to Bangladesh Bank is a routine responsibility of banks. Govt may compensate investors in 5-bank merger: Bangladesh Bank The central bank has also directed all institutions to strictly follow existing rules concerning borrowers attempting to reschedule long-overdue defaulted loans ahead of the election. No exceptions, special privileges, or rule violations will be permitted for rescheduling. All financial institutions, particularly those yet to submit their default data to the CIB, have been ordered to do so immediately. Updated reports detailing the full status of all new and ongoing loans, based on month-end outstanding balances, are mandatory. Banks have been specifically instructed to update the following information: Accounts of ongoing and settled loans, along with accurate balances and classification status, Maturity dates and overdue balances, Number and value of defaulted instalments, and details of installment payments or recoveries. To ensure round-the-clock verification of loan information for potential candidates, Bangladesh Bank has directed every bank branch to appoint a dedicated officer. Their names and mobile numbers must be submitted to the central bank. Bangladesh Bank directs MFS providers to halt online gambling transactions Electoral law clearly states that a candidate will be disqualified if their bank loan status is not classified as ‘regular’ up to seven days before the submission of nomination papers. Officials concerned believe this rigorous initiative by Bangladesh Bank will play a decisive role in preventing loan defaulters from securing nominations ahead of the election.

Independent MP AK Azad on Monday (February 12, 2024) demanded a list of those who have laundered money abroad taking loans from banks be placed in Parliament. Azad, who was elected MP for the first time, came up with the demand while participating in the discussion on the thanksgiving motion on the President’s speech. He said that Prime Minister Sheikh Hasina is totally against corruption and Awami League's manifesto also cited that. “First of all, good governance will have to be established in the banking sector,” Azad said. Read more: Bangladesh Bank sets an 11-point roadmap to realise default loans Welcoming Bangladesh Bank's roadmap for reforming the banking sector, Azad, also President of Newspapers Owners Association of Bangladesh (NOAB), said the amount of defaulted loans in Bangladesh is around Tk 1,45,633 crore. “But in reality, the amount is much more. But through write off, the amount of debt is shown less. Those who have taken loans and invested in factories and failed to repay, may be exempted subject to investigation,” he said. He demanded to bring to justice those who did not invest loan money in any business, and instead laundered the money. “They made home at Begum Para, and second homes. Their list should be published in the parliament,” he demanded. Read more: Bank MDs working under increased stress due to default loans, board interference: Experts He also commented that Bangabandhu's dream will not be realised unless they are brought under the law. The independent MP said that those who looted banks are responsible for the rise in commodity prices and inflation. Azad said that he wants to be accountable to the countrymen and voters through this parliament. Azad also said he wants to make the parliament effective and lively through constructive criticism of the government. He expected cooperation of the Speaker in this regard. Read more: Businesses should get opportunities to turn around before wholesale declaration of loan defaulters: FBCCI President

Mahbubul Alam, the new president of the country’s apex trade body, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has already written to Bangladesh Bank asking for opportunities for businesses struggling to pay instalments against loans to turn around their fortunes before declaring them as loan defaulters. He also believes heightened inflation is a global issue, rather than unique to Bangladesh, as prices of daily essentials and energy prices have witnessed spikes across the world, including the USA and Europe. Bangladesh is trying to curb inflation, but the global supply chain disruption creates crises on the supply side, which is the cause of the price hike in some cases, he pointed out. Talking to UNB, Mahbubul Alam gave his opinions on different issues including inflation, the dollar crisis, export diversification, and the challenges in achieving the Sustainable Development Goals. Read: Mahbubul Alam takes charge as FBCCI president Alam was elected as the new president of the FBCCI as a leader of the Sammilito Oikko Parishad, for the 2023-25 tenure. The election was held on July 31 and he took charge as president on August 14. He also serves as President of the Chittagong Chamber of Commerce & Industry (CCCI). Beyond his business acumen, Mahbubul Alam has received recognition in the form of CIP (Trade) and CIP (Industry) Awards from the Ministry of Commerce, Bangladesh. He is also a committed philanthropist, contributing to various social causes. Internationally, he is the recipient of a "Certificate of Merit" from the World Customs Organization. Alam said in the present economic reality, suppose an entrepreneur has 12 factories; among them one or two will have fallen into problems, but the other 10 would be running well. In this situation, if the business group was declared as defaulter, the entrepreneur would not run the other factories, and a large number of employees would lose their jobs. Read: Large defaulted loans have distressed domestic economy: Experts He acknowledged that in the last two years, a huge volume of loans went into default as many businessmen are not paying their instalments. The FBCCI president said, the federation (FBCCI) has already written a letter to the Bangladesh Bank (BB) to not declare any company as defaulter without understanding the reality. He suggested running the factories as an option to get a return. He opposed wholesale declaration of loan defaulters rather than giving opportunities to improve. Alam agreed that the businessmen have to return the loan money, otherwise the banks will be in trouble. Regarding the dollar crisis, the FBCCI president emphasised enhancing remittance earnings by sending more skilled human resources abroad, along with the unskilled manpower already being sent. Read more: Banks’ chief executives must bear responsibility to control defaulted loans: BB Governor He also urged the government to develop a system through which remittances could be sent easily to Bangladesh using legal channels from the Middle East and other areas of the world. Alam, the owner of Chattogram-based M/S Alam Trading, also emphasised enhancing the capacity of foreign missions of Bangladesh so that those missions can arrange trade fairs to display different traditions and non-traditional products as part of the export diversification campaign. Regarding SDG achievement, the FBCCI president said the capacity of domestic businesses must increase to compete with global manufacturers in the age of free trade. Alam said, “Despite different types of obstacles and unfavourable environment, the entrepreneurs of Bangladesh have survived and continued running their businesses even during the Covid-19 pandemic period.” Read more: BGMEA delegation meets Investment Board Chairman of Kurdistan regional government to discuss investment opportunities The FBCCI president emphasised massive research and innovation activities involving youths for Bangladeshi companies to cope with the requirements of the 4th Industrial Revolution, However, he doesn’t buy into the hype that Artificial Intelligence or machine learning will affect employment in Bangladesh, as he believes many jobs still exist that require a human hand. The FBCCI president also focused on increasing domestic rearing of chicken, pigeons, cows, and goats which will help to meet a large portion of the consumption demand for eggs, milk, and meat. It is not possible to supply readymade products, eggs, meat, milk, and other essential items to everyone, he said. Some people have to develop self-dependency when it comes to agricultural items, he pointed out. Read more: BGMEA, Erbil chamber of industry intend to collaborate in promoting bilateral trade

The total amount of debt to the top 20 defaulters is Tk 19,283.93 crore while the amount of defaulted loan is Tk 16,587. 92 crore. Finance Minister AHM Mustafa Kamal divulged the amount in parliament on Tuesday responding to a tabled question from ruling Awami League MP Shahiduzzaman Sarker. The finance minister placed the list the names of top 20 loan defaulters, amount of total debt and the amount of defaulted loans to them. He also informed the House that the total number of defaulters in the country is 7,86,065. According to the list, among the top 20 loan defaulters, the debt status of CLC Power Company Limited is Tk 1,732.92 crore while their defaulted debt is 1,649.44 crore. The debt status and amount of defaulted loan of 19 others are: Western Marine Shipyard Ltd, Tk 1,855.39 crore, defaulted debt, 1529.74 crore; Remex Footwear Ltd, Tk 1,077.63 crore, all those amount are defaulted loans; Rising Steel Company Ltd, 1,142.76 crore, defaulted debt, Tk 990.28 crore; Mohammad Elias Brothers (Pvt.) Ltd, Tk 965.60 crore, all those amount are defaulted loans. Rupali Composite Leather Wire Ltd.'s status and amount of defaulted loans are the same. Their defaulted debt is Tk 873. 29 lakh. Crescent Leathers Products Ltd.'s status and amount of defaulted loans is Tk 855.22 crore. The status and amount of defaulted loans of Quantum Power Systems Ltd. is Tk 811.33 crore. The debt status of Saad Musa Fabrics Ltd. is Tk 1,131.83 crore, the amount of their defaulted loans is Tk 776.63 crore. The status of amount of BR Spinning Mills Ltd. and the amount of defaulted loans is Tk 721 Crore 43 Lakh. The debt status of SA Oil Refinery Ltd. is Tk 1,172.69 crore. The amount of their defaulted loans is Tk 703.53 crore. Debt status of Maisha Property Development Ltd. is Tk 686.14 crore. The amount of their defaulted loans is Tk 663.18 crore. Read more: JP’s Rustum Ali Faraji blasts Finance Minister for his silence on state of economy Debt status of Radium Composite Textile Ltd. is Tk 770.48 crore. The amount of their defaulted loans is Tk 660.42 crore. Debt status of Samannaz Super Oil Ltd. is Tk 1,130.68 crore. The amount of their defaulted loans is Tk 651.7 crore. Manha Precast Technology Ltd.'s debt status and defaulted debt amount is Tk 647.16 crore. Asian Education Ltd.'s debt status is Tk. 653 Crores. The amount of their defaulted loans is Tk 635.94 crore. Debt status of SM Steel Re-Rolling Mills Ltd. is Tk 888.71 crore. Their defaulted loan amount is 630.26 crore. The debt status of Apollo Steel Complex Ltd. is Tk 872.72 crore. The amount of their defaulted loans is Tk 623.34 crore. Debt Status of Ehsan Steel Re-Rolling Ltd. is Tk 624.27 crore. Their defaulted loans amount is Tk 590.23 crore and the debt status of Siddiqui Traders is Tk 670.68 crore while the amount of their defaulted loans is 541.20 crore. In response to a question from reserved seat lawmaker from ruling party Nazma Akhtar, the finance minister told the parliament that there is no plan to waive interest on agricultural loans. Mentioning the reason for this, the minister said that banks give loans to farmers with money collected from depositors. As depositors have to be paid interest, it is not possible for the bank to waive the interest on the loan given to the farmers. Responding to a question from lawmaker Habibur Rahman, Kamal said that no loan has been received so far from the International Monetary Fund (IMF) in the current financial year (2022-23) while negotiations with the IMF regarding a loan are ongoing. “A loan of 300 million US dollars has been received from the World Bank in the current financial year. This loan is repayable in 30 years with a grace period of five years,” he said. Read more: 1st quarter performance of FY22-23 budget satisfactory: Finance Minister Replying a question from the ruling party lawmaker elected from Chattogram Md Abdul Latif's question, the minister said that the Japanese government has released 921.61 million US dollars for the overall development of Bangladesh till December of the current financial year. To a question of Jatiya Party lawmaker Syed Abu Hussain referring to the fact that the tax revenue was less than the target in the last financial year, Kamal said that the desired revenue collection has failed due to the post-Covid economic recession, Russia-Ukraine war, global monetary policy and austerity policy. In response to another question of Latif, he highlighted the various initiatives of the government to reduce the dollar crisis in the parliament. He informed that domestic banking units (local banks) have been given the right to raise foreign currency funds from their offshore banking operations, which will remain in force till June 30, 2023. In order to ensure a sufficient supply of edible oil, chickpeas, pulses, peas, onions, spices, sugar and dates at a bearable level during the month of Ramadan, all these products have been given a 90-day delay payment system to import these products, said the finance minister. It will remain in force till March 31, 2023. He said that with the aim of facilitating trade with China, the opportunity to trade with the country’s currency has been provided.

Sonali Bank Limited, a state-owned bank, has written off Tk 2,728 crore of its top 20 defaulters, including Hall-Mark, due to non-recovery. Sources said the bank has set a target of recovering Tk 272 crore, or 10 per cent of the loan cancelled this year but the latest data says the bank could not achieve even 8 percent of the target even after eight months. When contacted, Managing Director of Sonali Bank Md Ataur Rahman Prodhan told UNB that the loans have been written off as per rules. Also read: SC cancels Hallmark chairman’s bail; asks her to surrender “We’re trying to recover the loans …our teams are working in this regard. Writing off does not mean the loans won’t be repaid. It’s just keeping the loans in a separate balance sheet,” Ataur Rahman Prodhan said. Bangladesh Bank (BB) introduced a loan writing-off system in 2002 and then rule was amended in April 2019. As per the amended rule, a bank can write off its loan which is treated as bad loan for three consecutive years. It was five years previously, says Sonali Bank. According to the central bank, Sonali Bank has written off the highest amount of default loans of Tk 6,995 crore among the public banks. Of the total defaulted loans of the state-owned bank, 38 percent are with 20 defaulters, the BB data shows. Hall-Mark is among the 20 defaulters which have got its Tk 1,229 crore written off out of Tk 3,000 crore. Sources at the Bangladesh Bank said Sonali Bank could not yet overcome the burden of the huge scam since not a single penny could be recovered. Hall-Mark's loan scam had shaken the banking sector, casting a long-lasting burden on Sonali Bank’s investment. Also read: Two govt panels to probe alleged special treatment to jailed Hallmark GM Not only Hall-Mark, but also 18 others of the top 20 defaulters of Sonali Bank failed to repay 'zero' amount as of August this year. The other defaulters that got their default loans written off from Sonali Bank are: New Rakhi Textile Mills Limited (Tk 123 crore), Jasmi's Vegetable Oil (Tk105.55 crore), Fair Expo (Tk 96.30 crore), Alpha Tobacco (Tk 96.3 crore), One Spinning Mills (Tk 93.90 crore), Imperial Dyeing and Hosiery (Tk 90.13 crore), Rokeya Textile Mills (Tk 82.65crore) ,Sahil Fashion (81.18 crore), Imam Traders (Tk 80.85 crore), Sumi's Sweater (Tk76.7 crore), Riverside Leather and Footwear (Tk73.76 crore), Unity Knit (Tk 71.13 crore), Siddique Traders (Tk 69. 26 crore), KPF Textiles (Tk 68.56 crore), Moon Knitwear (Tk 67. 64 crore), AR Khan Sizing and Fabrics (Tk 66.86 crore), Jadu Spinning Mills Limited (Tk 50.34 crore), Sahil knitwear (Tk 57.68 crore) and Mask Sweater's (Tk 48.86 crore).

The High Court (HC) on Wednesday summoned 129 loan defaulters, including Proshanta Kumar Halder, the disgraced director of International Leasing and Finance Service Ltd (ILFSL), to explain how they would refund the borrowed money. They have been asked to appear before the court on May 24, 25 with plans so that they can pay the money in installments within a reasonable time. The bench of Justice Muhammad Khurshid Alam Sarkar passed the order on March 16. Written copy of the order was presented in the HC on Wednesday. Also read: HC seeks list of loan defaulters & money launderers Lawyer of ILFSL advocate Mahfuzur Rahman said the 129 loan defaulters, including PK Halder, have to pay ILFSC approximately Tk 1,800 crore. Among the loan defaulters, 100 were asked to appear on May 24 and 29 on the next day, he said. On January 21, the HC summoned another 280 loan defaulters to appear before it on February 23 and February 25. Among the defaulters, 158 appeared before the court. Also read: PK Halder swindle: ACC files 5 cases against 33 The HC asked them to pay the money or face jail. The court also imposed restrictions on foreign visit of 122 loan defaulters as they failed to appear before the court on March 9. Halder reportedly amassed Tk 3,600 crore and laundered the money abroad while performing his duties as director at ILFSL. Also read: Why PK Halder’s accomplices are still not arrested, asks HC On January 8, the Anti-Corruption Commission filed a case against Halder for acquiring wealth of approximately Tk 275 crore beyond any known income sources and money laundering.