The interim government revoked the passports of nine individuals, including Shibli Rubayat Ul Islam, the former chairman of the Bangladesh Securities and Exchange Commission (BSEC), a regulatory body overseeing the capital market on Wednesday (29 January).
Alongside Islam, the other eight individuals whose passports have been cancelled are former BSEC commissioner Sheikh Shamsuddin Ahmed, executive directors Mahbubul Alam, Saifur Rahman, and Rezaul Karim, as well as director Sheikh Mahbub-Ur-Rahman, Mohammad Mahmudul Haque, additional director SK Md Lutful Kabir, and joint director Md Rashidul Alam.
Sources within the Ministry of Home Affairs revealed that the cancellations took place last week, and the government has also imposed a travel ban, effectively restricting these individuals from leaving the country.
The individuals in question face accusations of facilitating stock market malpractices and the illegal accumulation of wealth during their tenure at BSEC. These actions are alleged to have significantly contributed to financial losses in the country’s capital market.
