BFIU freezes bank accounts of Showkat Ali Chowdhury, family

The bank accounts of Chattogram-based top businessperson Md Showkat Ali Chowdhury and three of his family members have been frozen.

He is the chairman of Finlay Bazar Limited.

Transactions through their bank accounts have been halted following a letter issued by Bangladesh Financial Intelligence Unit (BFIU) on Monday.

Transactions through credit cards, if any of them have any, will also remain closed.

Along with Showkat Ali Chowdhury, the BFIU has suspended the bank accounts of his wife Tasmiya Ambareen, vice-chairperson of National Life Insurance, and their children, Zara Namreen and Zaran Ali Chowdhury. Among them, Zara Namreen serves as a director of Eastern Bank.

In a letter sent to banks, the BFIU stated that all transactions of the accounts being operated in the names of these persons or in the names of any institutions in which they have an interest (including limited companies), will remain suspended for 30 days.

It also instructed the banks to send all relevant documents, such as account opening forms, thumb impressions, and KYC (Know Your Customer) details, related to those accounts to the BFIU by 2 July.

Speaking about this, a BFIU official told Prothom Alo that accounts have been frozen for one month as part of an ongoing investigation into financial crimes. The action was taken following proper legal procedures.

Since the fall of Sheikh Hasina’s government on 5 August last year in the face of a student-people uprising, the accounts of various political leaders and their business beneficiaries have been frozen.

The latest action has been taken against Showkat Ali Chowdhury and his family members as part of the process.