CSR fund misuse alleged against Ahsan H Mansur

Grave allegations of corruption, nepotism, and misappropriation of Corporate Social Responsibility (CSR) funds have emerged against the recently departed Governor of Bangladesh Bank, Ahsan H Mansur Central bank officials have questioned several of his decisions, claiming he diverted public funds to personal associates and institutions linked to his childhood and family.

Dr Ahsan H Mansur served the shortest tenure in the history of Bangladesh Bank, lasting only one year, six months, and 17 days. Despite this brief period, his term became a focal point of controversy. The government removed him on 25 February, two and a half years before his term was set to expire.

Sources within the central bank allege that while CSR funds traditionally support education, health, and social development, Mansur directed grants to institutions with which he had personal ties. Records show a 30 million taka grant to the Khalil-Malik Foundation in Chuadanga, founded by a close friend of the governor. Officials claim he pressured departments to release the funds quickly without verifying the foundation's capacity to assist cancer and kidney patients.

Further allegations cite Tk2.5 million grant for a Chuadanga High School computer lab, inaugurated by the governor and his wife. Additionally, he reportedly bypassed a long-standing practice of excluding government schools from CSR grants to fund Nilphamari High School, his own childhood alma mater.

The governor also allegedly sanctioned funds for the Martha-Lindstrom Nurjahan Begum Girls' High School in Karatia, Tangail, where he serves as the chairman of the governing body. Critics point to this as a clear conflict of interest.

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While Mansur declared a "war on corruption" and formed 11 joint investigation committees to tackle loan scams and money laundering by industrial groups, critics argue these efforts yielded no visible success. Instead, the intense scrutiny created stagnation in the capital market and dampened new investments.

New controversies have also surfaced regarding the Governor’s Secretariat. Allegations suggest a circle close to Mansur accessed sensitive data on frozen accounts from the Bangladesh Financial Intelligence Unit (BFIU) to extort money in exchange for unfreezing them. Furthermore, reports indicate he purchased a luxury MPV worth nearly Tk20 million, allegedly bypassing government procurement policies and the state-owned Pragati Industries.