Shahriar Alam served as the state minister for foreign affairs for two consecutive terms under the Awami League government. Professionally, he had no academic background or prior experience in diplomacy or international relations. Yet, it remains unclear how he ascended to become the country’s second-highest diplomat. An investigation, however, suggests that he secured his ministerial post by paying a substantial sum of money.
During his tenure, Shahriar reportedly treated his position as a licence for unchecked corruption, allegedly laundering thousands of crores of taka abroad. To legitimise his illicit wealth, he devised a calculated strategy, establishing several fish farms and declaring crores in income from them.
Under Bangladesh’s Income Tax Law, certain sectors such as agriculture and fisheries enjoy tax exemptions. Investments and profits made in these areas qualify for relief. Exploiting this loophole, Shahriar set up a string of agricultural and fish farms across Rajshahi, Lalmonirhat, and Thakurgaon.
In Thakurgaon, the former state minister owns a 25-bigha estate named “North Bengal Agro Farms Limited”. Locals allege that he illegally seized land under the pretext of purchasing property to establish the estate, encroaching not only on private ancestral lands but also on government plots. There are further allegations that he used his political influence to secure loans worth several crores of taka in the farm’s name.
In 2017, Shahriar bought 13 bighas of land in Kaliganj upazila of Lalmonirhat district, where he set up another farm cultivating high-value vegetables, fish, and other crops. Shahriar spent much of his childhood in Lalmonirhat, which likely influenced his choice of location. His long-time aide, APS Siraj, also resides in Kaliganj upazila.
In addition, Shahriar established more farms in Charghat, Rajshahi.
These ventures, investigators claim, were part of a broader scheme of financial fraud. On one hand, he used them to show inflated profits and legitimise illegally earned money; on the other, he leveraged them to obtain large, low-interest agricultural loans. Bangladesh Bank offers such long-term facilities for fish and agro-farming projects – an opportunity Shahriar allegedly abused to secure loans totalling Tk300 crore from Bangladesh Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Krishi Bank, and Sonali Bank.
None of these loans have been repaid. He is currently absconding, and there has been no progress in recovering the embezzled funds.
According to a source at Bangladesh Bank, the combined market value of Shahriar’s three farms does not exceed Tk25 crore, yet he managed to obtain loans amounting to Tk312 crore against them. Including accumulated interest, the total now stands close to Tk350 crore.
Most of the land for these farms, the source added, was forcibly taken from local owners using political muscle. After the change of government on 5 August, many of those owners have reclaimed their land, while others are still in the process of doing so.
Shahriar Alam, however, remains at large – having siphoned off the looted bank funds abroad through his network of fraudulent farm enterprises.
Bd-pratidin English/ ANI
