Salman F Rahman, Sheikh Hasina’s former private industry and investment adviser, has been implicated in various irregularities in Bangladesh’s stock market over the years. Following Hasina’s departure from the country, regulatory bodies have intensified their crackdown on financial misconduct. As part of these efforts, shares worth Tk 6,800 crore belonging to various entities associated with Salman F Rahman have been seized by the Bangladesh Financial Intelligence Unit (BFIU), with assistance from the Bangladesh Securities and Exchange Commission (BSEC). Additionally, shares worth Tk 700 crore from other companies have also been confiscated.

From August to December, the BFIU froze assets totaling Tk 22,000 crore, including over Tk 14,500 crore from the banking sector and Tk 7,500 crore from the stock market. These actions were supported by BSEC to address irregularities. During this period, the BFIU also froze the bank accounts of 366 individuals across 112 cases, with plans to file further charges against those involved in financial misconduct.

Reports indicate widespread corruption during the previous government’s tenure, with political figures and business groups engaging in embezzlement, money laundering, and market manipulation. Many investors lost their savings due to these irregularities, as large syndicates exploited weaknesses in the regulatory framework. Analysts argue that the lack of oversight by BSEC and insufficient punitive measures allowed such practices to persist. Allegations also surfaced against certain asset management companies for misusing mutual fund investments, which are traditionally considered a safer option.

To recover illicitly transferred funds, the government restructured an inter-agency task force in September, led by the Bangladesh Bank governor, with BFIU providing secretarial support. Efforts are underway to trace and repatriate stolen assets with international cooperation, including correspondence with Egmont Group’s 177 member countries and other bilateral partners. These measures aim to address the financial mismanagement that left countless investors devastated and the stock market in disarray during the previous administration.