No time to read? Just listen to the news!
TL;DR
- Obaidul Quader’s bank accounts have been frozen by the Bangladesh Financial Intelligence Unit (BFIU) on August 27, 2024.
- The suspension applies to both personal and business accounts, halting all transactions for 30 days under anti-money laundering laws.
- The directive affects banks and financial institutions nationwide, requiring submission of account details within five working days.
- This action follows political upheaval in Bangladesh, with Quader facing legal scrutiny after the Awami League government’s fall on August 5, 2024.
The Bangladesh Financial Intelligence Unit (BFIU) has taken decisive action by freezing all bank accounts of Obaidul Quader, the General Secretary of the Awami League and former Minister of Road Transport and Bridges. This move, executed on Tuesday, August 27, 2024, was communicated to various banks and financial institutions across the country. The directive mandates the suspension of all transactions associated with Quader’s personal and business accounts, invoking specific provisions under anti-money laundering regulations.
The BFIU’s instructions also require banks and financial institutions to submit relevant account information and documents, such as account opening forms, Know Your Customer (KYC) details, and transaction records, within five working days from the date of the directive. This comprehensive measure is part of a broader effort to scrutinize financial activities and ensure compliance with legal standards.
This development follows the political upheaval in Bangladesh, where the Awami League government, led by former Prime Minister Sheikh Hasina, faced a significant downfall on August 5, 2024. In the aftermath, several murder cases have been filed against numerous Awami League ministers and Members of Parliament, including Obaidul Quader. These legal challenges have intensified the scrutiny on Quader, who has served as the Awami League’s General Secretary since October 2016 and was re-elected to the position twice. He also held the role of Minister of Road Transport and Bridges until the government’s recent collapse and served as a Member of Parliament for the Noakhali-5 constituency.
The freezing of Quader’s accounts is part of a broader crackdown on alleged corruption and financial misconduct involving high-profile figures in Bangladesh. This action underscores the commitment of the BFIU and other authorities to uphold financial integrity and accountability, irrespective of an individual’s political influence or standing.
Source: JamunaTV
