The Bangladesh Financial Intelligence Unit (BFIU) has ordered the suspension of bank accounts belonging to Sharif Zahir, chairman of United Commercial Bank (UCB), and his family members.

Bangladesh Bank made this decision following an application from the Central Intelligence Cell of the National Board of Revenue.

It has been reported that along with Sharif Zahir, the bank accounts of his mother Kamrun Nahar, younger brother Asif Zahir, and Syed Ishtiaq Alam have also been ordered to be suspended.

The application stated: “To protect the interests of government revenue, under the powers vested by Section 223 of the Income Tax Act, 2023, it is requested that you take the necessary measures to suspend the withdrawal/transfer of funds from all accounts operated in the names of the mentioned individual and his family members (father, mother, brother, sister, spouse, son, and daughter) at your bank, including credit cards, debit cards, etc, as well as the transfer of assets/funds from any lockers or vaults.”