Salman F. Rahman fined Tk100 crore, banned from capital markets for life

The Securities and Exchange Commission (BSEC) has decided to fine Salman F Rahman, vice chairman of Beximco Group and industry and commerce adviser to ousted Prime Minister Sheikh Hasina, Tk 100 crore for allegedly defrauding the capital market in a bond issue.

At the same time, he has been declared banned in the capital market for life.

In addition, his son Sayan F Rahman has been fined Tk 50 crore and declared banned in the capital market for life due to the same irregularities.

On the other hand, former BSE chairman Shibli Rubaiyat has also been declared banned in the capital market for life.

These decisions were taken at the 965th commission meeting of the capital market regulator Securities and Exchange Commission (BSEC) on Tuesday.

BSEC gave this information through a press release on Wednesday.

The decision was taken based on the report of the Capital Market Inquiry and Investigation Committee.