World-famous cricketer Shakib Al Hasan and government official Abul Khair Hiru are once again facing financial penalties. They have been charged with irregularities and share manipulation involving Al-Amin Chemical Industries Limited. Following an investigation into six companies in the stock market, the Bangladesh Securities and Exchange Commission (BSEC) has opted to impose fines.
As reported by BSEC sources, a five-member investigative committee established last year has completed its inquiry into 12 specific issues and submitted a final report. In light of this report, the BSEC has resolved to impose fines amounting to hundreds of millions of taka. The specifics of these fines will be disclosed after Eid-ul-Fitr to avoid any adverse effects on the stock market.
The companies involved in this matter include Beximco Green-Sukuk Al Istisna, IFIC Granted Sreepur Township, Best Holdings, Al-Amin Chemical, Fortune Suze, and Quest BDC Limited.
The following individuals and organizations have been penalized: Md. Abul Khair Hero received a fine of Tk 11.1 crore, Abul Kalam Matabar was fined Tk 7.2 crore, Kazi Sadia Hasan faced a penalty of Tk 25.2 crore, Kanika Afroz was fined Tk 19.1 crore, Kazi Farid Hasan and Kazi Fuad Hasan each received fines of Tk 3.5 lakh, and DIT Co-operative was fined Tk 5 crore.
Additionally, Mohammad Shamsul Alam was fined Tk 5.75 lakh, Mohammad Jahangir Alam received a fine of Tk 1 lakh, Sazia Jasmine was penalized Tk 4.9 lakh, Sultana Parveen faced a fine of Tk 1.1 lakh, AAA Agro Enterprise was fined Tk 7.5 lakh, Arbim Techno received a penalty of Tk 2.3 lakh, and Md. Farid Ahmed was fined Tk 1 lakh.
Previously, on Thursday, the BSEC imposed fines totaling Tk 79.92 crore on 12 individuals and 3 institutions for manipulating the share prices of Sonali Paper and Board Mills, Fine Foods, and Fortune Suge Limited. These individuals and entities are overseen by Abul Khair Hiru.
Al-Amin Chemical Industries Limited, which was listed on the stock exchange in 2002, is currently experiencing financial losses. The BSEC has set specific conditions for the company’s operations, and despite its interest in trading on the SME platform, it has not yet been listed.
In 2022, Shakib Al Hasan and his two subsidiaries were permitted to acquire a 48 percent stake in Al-Amin Chemical. The company, located in Kanaipur, Faridpur, specializes in the production of chemical fertilizers and other related products.
