News Desk :Masud Biswas, head of the Bangladesh Financial Intelligence Unit (BFIU), has said that an investigation into money laundering allegations against Mohammad Saiful Alam, the owner of conglomerate S Alam Group, and his wife Farzana Parveen is underway. S Alam Group, which has expanded from the edible oil and consumer goods market into the energy sector, came under judicial scrutiny following a newspaper indicating that Alam bought huge amounts of properties abroad without the Bangladesh Bank’s approval. Asked about the steps taken by the BFIU to address these allegations, Masud said, “Our activities are ongoing based on a court order. We are taking the necessary actions.”The issue gained public attention on Aug 4, 2023, when The Daily Star published an article titled ‘S Alam’s Aladdin’s lamp’. It also asked why the failure of the BFIU, the Anti-Corruption Commission and the central bank to prevent money laundering in this case would not be declared as illegal.

Source: bd News24 February 20, 2024 18:12 UTC