Former BSEC chairman Shibli Rubaiyat held

Former chairman of the Bangladesh Securities and Exchange Commission (BSEC), Shibli Rubaiyat-ul-Islam, has been arrested by Detective Branch (DB) of Dhaka Metropolitan Police.

According to DB Chief Rezaul Karim Mallik, he was arrested around 10 pm on Tuesday in Dhaka’s Dhanmondi area.

He confirmed that Shibli Rubaiyat was apprehended in connection with a case filed by the Anti-Corruption Commission (ACC).

During his tenure at BSEC, he was accused of facilitating large-scale financial misappropriation in the stock market and amassing illegal wealth. As a result, the Ministry of Home Affairs recently revoked his passport.

Shibli Rubaiyat, a professor in the Department of Banking and Insurance at Dhaka University, was first appointed as BSEC chairman on May 17, 2020. He was reappointed on May 16 last year for another term.

Following the fall of the Awami League government, he resigned from his position as BSEC chairman on August 10 last year and returned to his academic post at Dhaka University.