In June 2024, Matiur Rahman, a taxman at the National Board of Revenue (NBR) was fired from his post after it emerged that his son tried to buy Bangladesh’s most expensive goat for Eid. The price of that goat even surpassed the salary of the NBR director Matiur Rahman. This led to a national scandal and the revelation of Matiur’s accumulation of ill-gotten wealth. But that is only part of the story. The IFAD Group was a key beneficiary of Matiur’s influence in NBR, which even led Matiur to name his son ‘Ifat’ in honor of the owners of the IFAD Group. The IFAD Group has been careful in not leaving a trail of its corruption and illicit activities. But the owners of the company should be investigated.
The IFAD Group is the local agent of the Hinduja Group’s brand of Ashok Leyland vehicles. For decades, the Ashok Leyland double decker buses on the streets of Dhaka have been supplied by IFAD Group to the Bangladesh Road Transport Corporation (BRTC). IFAD began to acquire a controversial reputation during the 1/11 emergency, which lasted between 2007 and 2008. The Bangladesh Army Chief General Moeen U Ahmed was the younger brother of IFAD Chairman Iftekhar Ahmed Tipu. Moeen had ambitions to usurp the presidency while Sheikh Hasina and Khaleda Zia were locked up in jail and Tarique Rahman was subjected to torture under army custody.
The youngest brother of Moeen U Ahmed even contested the 2008 general election from a constituency in Noakhali on an independent ticket against both the AL and BNP. This brother lost the election. Moeen continues to have political ambitions. Moeen is also dependent on his elder brother who owns the IFAD Group. In fact, several families in Dhaka have become financially dependent on the IFAD Group after mysteriously losing their wealth and influence during 1/11. The IFAD Group takes advantage of these financial relationships and exploits its dependents. Those who resist are subjected to abuse and threats of intimidation.
IFAD has a well-organized network in the army, police and media. Tipu has attempted to cultivate ties with Prothom Alo Editor Matiur Rahman. Its worth noting that it was Mahfuz Anam’s strong editorials in The Daily Star which prevented Moeen from grabbing the presidency. But IFAD has sought to buy influence in the two largest media houses of the country. Matiur Rahman is a friend of the father-in-law of Tipu’s middle son Taskeen Ahmed Roger. Shayan S Khan, Executive Editor of the Dhaka Courier, is the brother-in-law of Tipu’s middle son Roger.
One family which has faced the wrath of the IFAD Group is that of former Faridpur lawmaker Kamran Hossain Chowdhury, whose late wife was the sister-in-law of Roger. Chowdhury has accused IFAD Group of financially crippling him and his family. Shayan S. Khan, a former journalist at The Daily Star, has also sought to influence his former employers against Chowdhury’s son Umran. Shayan is known to be a leftwing supporter of the Bangladesh Nationalist Party (BNP). But in a twist of irony, Shayan is related to Moeen U Ahmed who is responsible for the torture of Tarique Rahman. Why are Tarique Rahman’s torturers also seeking to bring the BNP back to power?
Update: Sherlock Holmes updated this website with a separate post on how General Moeen U Ahmed shielded taxman Matiur Rahman from accountability.