14 October 2025
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Salman F Rahman, ex-BSEC chief Shibli banned from capital market for life

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Banglapress Published: 23 September 2025, 10:25 AM
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Salman F Rahman, ex-BSEC chief Shibli banned from capital market for life
  Bangla Press Desk: The Bangladesh Securities and Exchange Commission (BSEC) has declared former IFIC Bank chairman and Beximco Group vice-chairman Salman F Rahman, his son and former IFIC Bank vice-chairman Ahmed Shayan Fazlur Rahman, and former BSEC chairman Shibli Rubaiyat-Ul-Islam persona non grata in the country’s capital market for life. The commission disclosed the decision in a press release issued on Wednesday. BSEC also imposed a Tk100 crore fine on Salman F Rahman and a Tk 50 crore fine on his son Shayan. Former CEO of IFIC Investments Limited, Imran Ahmed, was banned from all forms of capital market activities for five years, while legal action has been initiated against then Managing Director of IFIC Bank, Shah Alam Sarwar.
IFIC Bank PLC, as an institution, was also served with a formal warning over its involvement in the matter. Additionally, the commission decided to warn several former nominated and independent directors of IFIC Bank, including ARM Nazmus Saquib, Md Golam Mostafa, Md Zafar Iqbal (ndc), Kamrun Nahar Ahmed, and Sudhanshu Shekhar Biswas. According to the statement, the actions were based on findings submitted by a capital market inquiry and investigation committee, which looked into the issuance of the Tk1,500 crore “IFIC Guaranteed Sreepur Township Green Zero Coupon Bond” by Sreepur Township Ltd—a private limited company established in March 2023. The investigation raised red flags about the disbursement of Tk248 crore within just four days of capital raising, allegedly for land acquisition and development purposes, a move the commission found questionable.
Further investigations are being carried out regarding irregularities involving the Beximco Secured Convertible or Redeemable Asset-Backed Green Sukuk. The commission said it would take necessary action against all individuals and entities involved in regulatory breaches linked to the Sukuk issuance. In the statement, BSEC reiterated its commitment to transparency and good governance in the capital market, affirming that it would continue taking strict measures against such irregularities.  This article was originally published on Daily Sun. [Bangla Press is a global platform for free thought. It provides impartial news, analysis, and commentary for independent-minded individuals. Our goal is to bring about positive change, which is more important today than ever before.]
BP/ZE
[Bangla Press is a global platform for free thought. It provides impartial news, analysis, and commentary for independent-minded individuals. Our goal is to bring about positive change, which is more important today than ever before.]

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