Passports of 9 BSEC officials including Shibli Rubayat scrapped

The government has cancelled the passports of nine persons, including Shibli Rubayat Ul Islam, the former chairman of the Bangladesh Securities and Exchange Commission (BSEC), the regulatory body for the capital market.

The other eight persons whose passports have been scrapped are former BSEC Commissioner Sheikh Shamsuddin Ahmed, Executive Directors Mahbubul Alam, Saifur Rahman, Rezaul Karim, Director Sheikh Mahbub-Ur-Rahman, Mohammad Mahmudul Haque, Additional Director SK Md Lutful Kabir, and Joint Director Md Rashidul Alam, a high official of the home ministry confirmed to the media.

According to sources from the Ministry of Home Affairs, their passports were cancelled last week. Additionally, the ministry has imposed a travel ban on them, preventing them from leaving the country.

The allegations against these nine persons state that during their tenure at BSEC, they facilitated looting in the stock market and accumulated illegal wealth.