For many, the idea of relaxing in a 3,500-square-foot apartment between university classes sounds like something out of a fairy tale reserved for the offspring of wealthy tycoons in developed nations.
However, this dream became a reality for Farheen Rishta Binte in 2017, with a unique twist – her father was then a high-ranking official in the Bangladesh government.
Benazir Ahmed, the chief of the elite force Rapid Action Battalion (RAB) in 2017, purchased the apartment for nearly Tk3.5 crore in the Bashundhara Residential Area of Dhaka city. Situated a mere 50 yards from North South University, where Farheen was studying, the residence provided her with a conveniently located retreat, as reported by various media outlets.
Farheen’s exceptional fortune does not end with the apartment. Alongside her sister Raisa, she is also an equal owner of Tk1.3 crore shares in Best Holdings Ltd, a prominent provider of travel and construction services.
In 2019, while still serving as the director general of RAB, Benazir acquired two lakh shares of the company.
Subsequently, he ascended to the position of inspector general of police. It is easy to speculate that his wealth multiplied significantly during his career progression.
For the Bashundhara flat, Benazir spared no expense, purchasing doors worth over Tk50 lakh and investing generously in interior decoration. According to other residents of the building, the furnishings inside were equally lavish.
A security guard at the building disclosed that Benazir sold the flat to a businessperson from Gopalganj a few years ago. Prior to the sale, Benazir and his wife would often visit the flat.
Notably, Benazir has been subject to US sanctions due to alleged human rights abuses, including extrajudicial killings and torture, committed by RAB during his tenure as its chief. He retired from all posts in the Bangladesh Police in September 2022.
Shares in Best Holdings
Best Holdings Ltd recently obtained a listing on the Dhaka Stock Exchange. Despite widespread allegations of financial irregularities against the company, including those related to its public listing process, it managed to secure the listing, purportedly with the assistance of “invisible hands”.
Sources suggest that Benazir Ahmed’s family played a role, directly or indirectly, in contributing to the company’s assets, potentially implicating them in the alleged fraudulent listing process of Best Holdings.
Numerous general investors of Best Holdings, as well as individuals familiar with its listing process, have accused Benazir of exploiting his powerful position within the government and police force to circumvent stock exchange regulations.
Presently, both daughters of the retired police officer own one lakh shares each of Best Holdings. With each share valued at Tk65, the two sisters possess a fortune of Tk65 lakh each in the company, according to company documents.
