Before the 13th National Parliament election drew near, BNP-elected Member of Parliament Khandaker Abdul Muktadir had his name on the list of loan defaulters. He is now the minister of three ministries—commerce, industries, and textiles and jute.
Khandakar Abdul Muktadir contested from the Sylhet-1 constituency, comprising Sylhet City Corporation and Sylhet Sadar upazila. The last date for submitting nomination papers was 29 December. After verifying the loan information of all candidates, Bangladesh Bank’s Credit Information Bureau (CIB) sent two lists to the Election Commission on 30 December.
In one CIB list, 82 people were identified as loan defaulters. In another list, 31 names were included—all of whom had obtained stay orders from the High Court. Khandakar Abdul Muktadir’s name was on the second list. That means he contested the parliamentary election with a court stay order, won, entered Parliament, and even became a minister.
In this way, many whose names were on the list of loan defaulters contested in this parliamentary election. Initially, the court allowed 31 people to take part in the election until the final disposal of their cases. In the final judgment, BNP’s Manjurul Haque Munshi (Cumilla-4) lost his candidacy due to being a loan defaulter and could not contest. The remaining 30 could. Among them, nine have become Members of Parliament (MPs), who have already joined parliamentary sessions. Two BNP candidates from Chattogram have won in unofficial results. However, the Election Commission has not yet issued gazette notifications in their names, although they expect it soon.
Article 12 of the Representation of the People Order, 1972 states that loan defaulters cannot contest elections. However, it is seen that before elections, potential candidates repay some money and regularise their loans. And by obtaining court stay orders, many contest elections. If they fail to win, in many cases they no longer repay the loans. If they win, they reach a settlement with the banks. Their influence as Members of Parliament then becomes useful.
Overall, the situation has become such that the law is unable to prevent all loan defaulters from becoming candidates. There is no example of anyone losing their parliamentary seat after being elected due to loan default.
Amid controversy over loan defaulters and electoral eligibility, the name of former Home Minister Mohiuddin Khan Alamgir is particularly discussed. Despite being a defaulter, he contested the 2014 election with a court stay order and won. That stay order was temporary. His parliamentary membership was not cancelled because the case was resolved after the five-year term had ended.
According to Bangladesh Bank’s figures from last December, defaulted loans in the banking sector stood at Tk 5.57 trillion (5,57,216 crore,) which is 30.60 per cent of total loans.
After a hearing on allowing loan defaulters to contest this time, Election Commissioner Abul Fazl Md Sanaullah told journalists on 18 January, “We allowed the loan defaulters with a heavy heart, only because the law permitted them.”
Before the election, Badiul Alam Majumdar, editor of Shushashoner Jonno Nagorik (SHUJAN), also raised questions. He said, are the courts enabling those who are not even eligible to contest to become winners?
On 16 March, he told Prothom Alo that one might try to spend all five years using a stay order, which should not be possible. And regularising loans before elections is not the main issue—the main issue is that by regularising loans with a small payment, they have changed the entire electoral equation.
Sylhet-1: How much is Muktadir’s loan
According to the election affidavit, Khandakar Abdul Muktadir and his wife have bank loans. Muktadir has a loan of Tk 68.5 million at National Bank of Pakistan. In his wife’s name, there is Tk 627.6 million at Trust Bank and Tk 980 million at Prime Bank. In addition, they have loans of Tk 148.7 million at Islami Bank and Tk 969 million at Al-Arafah Islami Bank. These loans were rescheduled between October and December 2025.
Court stay orders were in place until 26 January to prevent FM Yarn Dyeing Limited, linked to Muktadir, from being shown as a defaulter. Another company, Magnum Enterprise Limited, had a stay until 10 January. Before the election, the court stayed showing these companies as defaulters in the CIB until case disposal.
However, on 16 March, Muktadir told Prothom Alo by phone that his loans had been regularised before the election. He also said he has no connection with FM Yarn Dyeing or Magnum Enterprise, not even as a shareholder, and that the matter was mistakenly taken to court and later resolved.
Chattogram-6: Giasuddin Quader Chowdhury
BNP MP from Chattogram-6 (Raozan), Giasuddin Quader Chowdhury, had Tk 6.79 billion in defaulted loans. A court stay preventing him from being shown as a defaulter remained valid until 23 February (11 days after the election).
According to his affidavit, he had loans of Tk 2.97 billion from Agrani Bank, Tk 2.01 billion from Sonali Bank, Tk 1.64 billion from Dutch-Bangla Bank, Tk 89.5 million from Dhaka Bank, and Tk 63.3 million from Peoples Leasing and Financial Services.
On 17 March, he told Prothom Alo by phone, “All my loans were regular before the election. After depositing the money, it needs board approval, which takes time. The election was approaching, so I took a court stay to remain risk-free.”
Bogura-1: Kazi Rafiqul Islam
Kazi Rafiqul Islam, elected from Bogura-1 (Sonatola and Sariakandi), had multiple stay orders—one expired on 25 January, another on 7 March, and another will expire on 22 April.
He became a defaulter of at least Tk 7.65 billion by not repaying loans from two private banks. Initially disqualified, he later got the opportunity through a High Court stay.
On 16 March, he said, “Before the election, I rescheduled the loan by paying the minimum amount as per Bangladesh Bank rules. So the stay order will no longer apply.”
Cumilla-10: Mobasher Alam Bhuiyan
Mobasher Alam Bhuiyan, elected from Cumilla-10 (Nangalkot and Lalmai), was a defaulter as owner and guarantor of Jamjam Car and Automobile and as a director of Jamjam Trading Corporation Limited, both of which took loans from Bank Asia.
His nomination was cancelled on 3 January due to loan default and lack of party certification. He appealed, but the Election Commission upheld the cancellation on 18 January. He then filed a writ in the High Court on 19 January and regained candidacy.
Bogura-5: Golam Mohammad Siraj
BNP’s Golam Mohammad Siraj, elected from Bogura-5 (Dhunat and Sherpur), declared only small personal loans in his affidavit, but Bangladesh Bank data showed about Tk 1.09 billion linked to his companies. His wife’s company SR Chemical Industries had about Tk 5.12 billion in defaulted loans.
There are four related cases, with some stays already expired and others pending. His lawyer said the loans were regular but they took a stay due to delays in updating CIB records.
Mymensingh-5: Mohammad Zakir Hossain
MP Mohammad Zakir Hossain had about Tk 970 million in defaulted loans from two private banks. A court stay prevented him from being shown as a defaulter until 6 June. He claims the loans were regularised before the election.
Chattogram-4: Aslam Chowdhury
This seat consists of Sitakunda and Pahartali. After the election ended, the returning officer informed that with paddy sheaf symbol Aslam Chowdhury received 142,674 votes. And his nearest rival Jamaat’s Anwar Siddique Chowdhury received 89,268 votes. However, no gazette has been issued in the name of Mohammad Aslam Chowdhury.
According to Bangladesh Bank information, in his own name, as guarantor and as director, in five banks Mohammad Aslam Chowdhury has Tk 17 billion defaulted loan. Among these, in own and others combined his loan is Tk 3.54 billion. As guarantor his loan amount is Tk 10.59 billion and as director in various institutions loan is Tk 2.85 billion. To not show him as loan defaulter in CIB, at first the court gave stay until 19 and 31 January. After expiry of this period, before the election he again obtained stay from the court.
Until election day 12 February, the matter of Aslam Chowdhury remained pending. In the morning, the Election Commission ordered that based on writ application and according to the order given by the Appellate Division, Mohammad Aslam Chowdhury will be able to take part in the election and he did so. However, it was informed that until final disposal of the appeal, the result will remain stayed. Declaring the nomination paper valid, Election Commissioner Abdur Rahmanel Masud requested the candidate saying, “Made the nomination paper valid. But do pay the bank money.”
On 16 March Aslam Chowdhury informed Prothom Alo, “I have partially repaid the bank loan. And to not show as loan defaulter, I have newly obtained stay from the court for another six months. The advantage is, the bank has withdrawn the case. A process is going on. So I hope that gazette as MP will be issued at any time.”
Chattogram-2: Sarwar Alamgir
This seat consists of Fatikchhari upazila of Chattogram district. According to unofficial information, from BNP Sarwar Alamgir with paddy sheaf symbol received 138,545 votes. In contrast, his nearest rival Jamaat-e-Islami’s Mohammad Nurul Amin received 62,160 votes. This result is also stayed and till now gazette has not been issued.
The company owned by Sarwar Alamgir is NFZ Terry Textile. In Agrabad branch of Standard Bank, in the name of this company there was Tk 2.01 billion defaulted loan.
In Bangladesh Bank list it has been said, “Regarding showing loan defaulter in CIB, High Court’s injunction remains in force, which will remain until disposal of appeal.”
Based on Sarwar Alamgir’s writ application, on 3 February the High Court Division said, Sarwar Alamgir will be able to contest the election. But the result will remain stayed until disposal of appeal. On election day 12 February, the Election Commission also gave the same order. That day the Election Commission said, until final disposal, publication of Sarwar Alamgir’s election result will remain stayed.
On 17 March Sarwar Alamgir told Prothom Alo over mobile phone that his bank loans are regular and there is no case of the bank against him. He said, “Against me 5 cases were filed from Jamaat-e-Islami, of which in 4 they have lost. The final disposal of the remaining one is on 28 April. I hope, after disposal, gazette will be issued.”
There are 3 more MPs of BNP
From Cumilla-9 seat formed with Laksam and Monohorganj upazila, BNP’s Md Abul Kalam has been elected; from Tangail-4 seat formed with Kalihati upazila, BNP’s Lutfur Rahman alias Motin; and from Moulvibazar-4 seat formed with Sreemangal and Kamalganj upazila, BNP’s Md. Mujibur Rahman Chowdhury has been elected.
On showing Abul Kalam as loan defaulter, there is stay until disposal of appeal. Lutfur Rahman’s stay is until 24 May. And regarding Mujibur Rahman Chowdhury also there is High Court stay that he cannot be shown as loan defaulter until disposal of appeal.
Due to being loan defaulter, Jatiya Party (one faction) leader and Kishoreganj-3 candidate Mujibul Haque, Islami Andolon Bangladesh candidate Mujibur Rahman Shamim, Jatiya Party candidate Golam Sarwar, LDP’s Md. Hasan Imam and Jamaat-e-Islami’s Abdul Haque, among many others, could not contest the election.
Presenting the whole picture, on 16 March Prothom Alo asked senior Supreme Court lawyer Shahdeen Malik. He said, in society some are intentional loan defaulters, but it is difficult to identify the intentional ones. Some again become loan defaulters due to not being able to do business. Some again become disqualified for election by becoming guarantor of others. So if they go to court and can present arguments in their favour, the court gives justice and grants stay. This time also that has happened.
Shahdeen Malik said, “Until final disposal, not to show as defaulter in CIB—such order the court can give. However, it is better that the duration is not unlimited. I want that those who take huge amounts of money from banks and cannot repay should become MPs as little as possible. If lawmakers take money and do not return it, it creates conflict of interest, investment decreases, employment decreases and the economy collapses.”
Nomination cancelled in 2018 also
In the 2018 Eleventh National Parliament election also, due to being loan defaulters, candidature of some candidates was cancelled, who have won this time. Among them are Aslam Chowdhury and Giasuddin Quader Chowdhury.
Aslam Chowdhury regained candidature the day before voting in 2018 by court order—this was informed then by his chief election agent Mohammad Morsalin. It is seen that continuously many loan defaulters, by paying a small amount to the bank, rescheduling the loan, are getting the opportunity to contest elections through the court.
Former professor of Economics Department of Chattogram University Moinul Islam yesterday told Prothom Alo that giving opportunity to loan defaulters to come to Parliament is a very bad decision. As far as I know, former governor Ahsan H Mansur also tried to stop it but could not. As a result, by using the opportunity of 2 per cent cash deposit, a section of businessmen have become Members of Parliament today. He further said, the attitude of the new government and the new governor towards loan defaulters does not seem good for the banking sector as well as the economy.