Tk 1.00 trillion have been looted

S Alam family didn’t have citizenship of Bangladesh

Staff Correspondent: Mafia S Alam Group of Banking Sector in Bangladesh, also known as the cashier of Sheikh Hasina, worked with the government and looted one bank after another. About Tk 1 lakh crore (Tk 1.00 trillion) has been borrowed from the bank anonymously. On Monday, a news headlined ‘S Alam leaves Bangladesh citizenship with his family’ was published in a national news outlet.
According to the report, after establishing dominance in the banking sector, Mohammad Saiful Alam, the chairman of the much-discussed S Alam Group, renounced the citizenship of Bangladesh with his family. Bangladeshi passports of S Alam, his wife Farzana Parveen and their three sons Ahsanul Alam, Ashraful Alam and Asadul Alam Mahir were revoked on October 10, 2022. On the same day, the family was granted permanent residency in Bangladesh as foreign nationals. The Ministry of Home Affairs provided these facilities on the instructions of the high level of the government. Analysts believe that such tactics are adopted to facilitate money laundering and avoid accountability in adverse situations.

It is known that this family, which was influential during the Awami League government, got permission to live in Bangladesh on the same day that it renounced its Bangladeshi citizenship. Relinquishment of citizenship and acceptance of permanent residency is a complex process in Bangladesh, but this work was done secretly in the secretariat of the Ministry of Home Affairs on the same evening by abuse of power. Lawyers have also raised questions about how two tasks were completed on the same day, even though the permission of various departments including the permission of the special branch of the police is required to renounce citizenship and receive residential benefits.
According to the permanent residency application, S Alam and his wife Farzana Parveen, three sons Ahsanul Alam, Ashraful Alam and Asadul Alam Mahir received permanent residency in Bangladesh on 10 October 2022. No citizen of Bangladesh has the opportunity or need to avail this benefit. They receive permanent residency benefits because they renounced their citizenship.
From the documents, it is known that despite taking a loan of about Tk one lakh crore from the banking sector of Bangladesh, the members of the S Alam family have shown an investment of only $ 75 thousand dollars per person to get the opportunity of permanent residence.
In the individual permit of permanent residence of S Alam family members, it is mentioned, “The applicant has satisfied the Government to grant certificate for right to permanent residence facility.” Therefore, in terms of the powers conferred by section 4A of the Bangladesh Citizenship (Temporary Provisions) Ordinance 149, 1972 and 4B of the Bangladesh Citizenship (Temporary Provisions) Ordinance 1978 made under that Ordinance, the applicant is granted permanent residence and is deemed to be a permanent resident, will be shall have all the rights, privileges and qualifications as a resident of Bangladesh and shall have the same responsibilities and duties as a citizen of Bangladesh. However, he can’t claim any property assigned or declared abandoned by the government.’
It further mentions, ‘The money invested in industrial or commercial establishments in Bangladesh can’t be returned or remitted by the applicant to his home country or to any other country outside Bangladesh, otherwise his permanent residence benefits will be considered cancelled.’