Transparency International Bangladesh (TIB) has cast a shadow over a government minister's candidacy by alleging the undisclosed investment of Tk 2, 312 crore abroad.

The minister, who is also contesting the upcoming national elections, is accused of failing to declare this significant foreign investment in the affidavit submitted to the Election Commission (EC). Further adding to the concerns, TIB claims the minister and his spouse own a company actively engaged in real estate business overseas.

He said that according to the reliable information received by them, there is evidence that at least one member of the government's cabinet has multiple companies in his name abroad. The minister did not disclose the assets held abroad in his affidavit.

“Six companies owned by the minister and his wife are still actively engaged in real estate business abroad. Their value is 16.64 crore pounds or 2 thousand 312 crore taka. The minister first opened a company in 2010, which has a current asset value of £173 million.”

“Then he opened another company in 2016, whose current assets are worth 731 million pounds. Opened a third company in 2019, whose current asset value is 790 million pound. He launched a fourth company in 2020, with assets valued at 215 million pound, and a fifth and sixth in 2021, which currently have assets worth £322 million,” he said.

When asked to know the name of the minister, Iftekharuzzaman said that since the information is confidential and he himself did not disclose it. That is why it is beyond the jurisdiction of the TIB to reveal his name. However, if any government authority wants to know the information from TIB, then they will provide it along with the proof.

In the press conference, researchers of TIB informed based on the information obtained by analyzing the affidavits, more than 18 candidates have more than Tk 100 crore assets among the candidates who are going to participate in the 12th National Parliamentary elections. Among independent and party candidates, the number of millionaire candidates is 480. 164 candidates whose income is more than 1 crore taka every year.

Iftekharuzzaman said that the statement of income-assets and debt-liability given in the affidavit of the candidates is not verified how accurate and how much the income and assets are acquired through legal means. Again, there is a big question about the value of assets shown in the affidavit at the time of acquisition. Candidates in the affidavit showed how much wealth they have earned? Did the whole show? Or there is an opportunity to question whether he has concealed the information of holding assets in the country or abroad.

Top 20 Candidates with above Tk 100 Crores: Jute and Textiles Minister Golam Dastgir Gazi tops the list of candidates who have more than Tk 100 crores in his election affidavits. His assets amount to Tk 1, 345 crores. Then there is the independent candidate from Bahmanbaria, SAK Ekramuzzaman, whose wealth is Tk 421 crore.

Salman F Rahman's wealth is 315 crore taka. Cumilla-8 Constituency MP Abu Zafar Mohammad Shafi Uddin's wealth is 306 crores taka, Cumilla-3 Constituency MP Abu Yusuf Abdullah Haroon's wealth is 277 crores taka, Chuadanga-1 independent candidate Dilip Kumar Agarwala's wealth is 276 crores taka, Sirajganj-5 Constituency MP Abdul Momin Mandal's wealth is 253 crores taka.

Narayanganj-1 independent candidate Gazi Golam Murtaza has 233 crores, Nansingdi-3 independent candidate Sirajul Islam Molla has 174 crores and former mayor of Dhaka South City Corporation and Awami League candidate for Dhaka-6 constituency Sayeed Khokon has assets worth 163 crores taka.

Top 10 in income are ministers: Commerce Minister Tipu Munshi is the top income earner in the last five years. His income is 2 thousand 131 crores taka. Next is Health Minister Zahid Malek. His income has increased by 275 percent, State Minister for Power Nasrul Hamid's income has increased by 228 percent, State Minister for Disaster Management and Relief Enamur Rahman's income has increased by 227 percent, Industries Minister Nurul Majid Mahmud Humayun's income increased by 164 percent, Primary and Mass Education State Minister Zakir Hossain's income increased by 148 percent, Textiles and Jute Minister Golam Dastgir Gazi's income increased by 122 percent and Food Minister Sadhan Chandra Majumder's income increased by 91 percent.

Millionaires in each party: Among the candidates participating in the election, 57 percent of the main profession is business. And the number of candidates whose annual income is more than 1 crore taka is 164. There are 18 candidates who have wealth of more than 100 crore taka.

Among independent and party candidates, the number of millionaire candidates is 480. Apart from this, the number of candidates who have more than 10 crore taka is 4.62 percent. 1.07 percent have more than 50 crore taka. 72.09 percent of candidates who don't even have 1 crore taka.

Among the millionaire candidates, 235 are from Awami League, 163 are independents, 47 are from Jatiya Party, 17 are from JP, 7 are from Jasad, 6 are from Trinamool BNP, and 5 are from Bangladesh Workers Party.

(The article was published on print and online versions of The Bangladesh Pratidin on December 27, 2023 and has been rewritten in English by Tanvir Raihan)