ACC to sue Salman F Rahman, 24 others over Tk538cr IFIC loan

The Anti-Corruption Commission (ACC) has decided to file a case against Beximco Group Vice Chairman Salman F Rahman, his son Ahmed Shayan Fazlur Rahman, and 23 others over the alleged embezzlement and laundering of more than Tk538 crore borrowed from IFIC Bank.
ACC Secretary Md Saidur Rahman Khan disclosed the decision to journalists on Sunday.
According to the ACC, IFIC Bank approved a Tk545 crore overdraft (OD) facility for Skymark International, a purported paper-based company, without properly assessing its repayment capacity.
The commission alleged that Tk538.16 crore of the loan was laundered through withdrawals, transfers, handovers, and conversions to conceal its source and destination.
Salman F Rahman is a former chairman of IFIC Bank and former private-sector industry and investment adviser to the ousted prime minister, while his son, Shayan, is a former vice chairman of the bank.
Other proposed accused include Skymark International Managing Director Abdullah Al-Manjur and Director Ishrat Jahan, along with several former and incumbent directors and officials of IFIC Bank.
According to the ACC findings, IFIC initially approved a Tk90 crore OD facility for Skymark on 23 August 2022. The limit was raised to Tk145 crore on 10 January 2023 and Tk545 crore on 25 June 2024.
The ACC alleged that when the limit was last increased, a proposal to take 650 acres of land as collateral was kept on hold, and the mortgage was never completed.
As of 23 July 2026, interest and other charges stood at Tk66.53 crore, taking the outstanding loan to Tk604.69 crore, which the ACC described as a financial loss to the bank.
The Skymark loan is part of a broader ACC investigation into Tk7,129 crore in loans allegedly sanctioned, disbursed and embezzled in the names of 14 “fake and paper” companies involving Salman F Rahman and Shayan.
Meanwhile, Saidur Rahman said the ACC had also approved a notice requiring former Dhaka Metropolitan Police Joint Commissioner Biplob Kumar Sarker to submit a statement of his assets over allegations of acquiring Tk1.03 crore beyond his known sources of income.
The ACC alleged that Biplob Kumar, while serving as a government employee, obtained the amount through bribery and corruption. ACC investigators found 341 accounts linked to Biplob and persons associated with him, including 325 accounts at 21 banks, three at two financial institutions and 13 at seven brokerage houses. The accounts had Tk30.72 crore deposited and Tk30.13 crore withdrawn, the commission said. He also faces allegations of acquiring assets through money laundering and purchasing properties in his own name and those of others, according to the ACC.
On 9 December 2025, a court imposed a travel ban on Biplob Kumar Sarker, his wife Hosneara Begum, his brother Pranab Kumar Sarker and his brother’s wife Shahanara Begum.