BFIU Chief Shahinul loses job amid scandal, graft probe
The Ministry of Finance has officially cancelled the appointment of AFM Shahinul Islam as head of the Bangladesh Financial Intelligence Unit (BFIU), marking the end of a turbulent tenure marred by a video scandal, allegations of financial misconduct, and growing unrest within Bangladesh Bank.
In an office order issued Monday, the Financial Institutions Division confirmed the decision to revoke Shahinul Islam’s position, following a damning investigation into his conduct.
The move comes after months of mounting pressure from central bank officials and public outcry over the lack of accountability.
The investigation, conducted by a four-member committee formed by the ministry, uncovered serious irregularities. It revealed that Shahinul Islam allegedly facilitated the withdrawal of Tk 19 crore by controversial businessman Khandaker Enayet Ullah from a frozen bank account, a move deemed a severe breach of financial oversight protocols.
Additionally, the probe found evidence of suspicious cash deposits in Shahinul Islam’s personal accounts and those of his wife at Dutch-Bangla Bank.
On May 4 and 5, 2024, Tk 15 lakh and Tk 5 lakh were deposited into his wife’s account, followed by Tk 23 lakh in his own account on May 12, all reportedly by a man named Mizanur Rahman.
The source and legitimacy of these funds remain under scrutiny.
The crisis deepened on August 18, when an obscene video featuring Shahinul Islam went viral on social media.
While he claimed the footage was fabricated, a forensic examination conducted by Bangladesh Bank confirmed its authenticity. The revelation triggered outrage among central bank staff, leading to protests and a complete breakdown of institutional confidence.
In the wake of the scandal, Shahinul Islam was forced to leave office and subsequently placed on leave by the government. He has not returned to duty since.
The investigation committee, led by Additional Secretary Sayeed Qutub and including Bangladesh Bank Executive Director Sirajul Islam, ICT Director Matiur Rahman, and Joint Secretary Mohammad Saidul Islam of the Finance Ministry, recommended his removal after finding substantial evidence of misconduct.
The controversy surrounding Shahinul Islam’s appointment dates back to January 2025, when he was named BFIU chief despite not being on the search committee’s recommended list. His predecessor, Md. Masud Biswas, had resigned in August 2024 amid internal pressure, after which AKM Ehsan served as acting chief and initiated high-profile investigations into powerful business groups, including associates of former Prime Minister Sheikh Hasina. However, Ehsan was not made permanent, reportedly due to political interference.
Shahinul Islam’s appointment was widely criticized from the outset, with many officials questioning its legitimacy and transparency.
Bangladesh Bank officials welcomed the government’s decision to cancel his appointment, calling it a long-overdue but necessary step to restore credibility to the financial regulatory system.
“This decision, though delayed, sends a message that corruption and moral misconduct will not be tolerated,” said a senior official at Bangladesh Bank. “It will help protect the integrity and image of the country’s financial sector.”
The Ministry of Finance has yet to announce a new appointment for the BFIU leadership. In the meantime, an acting chief is expected to be named to ensure continuity in the agency’s critical anti-money laundering and financial intelligence operations.