Written by The Banking Post
Ministry of Finance has dismissed the head of the financial intelligence unit, citing financial irregularities and the circulation of an explicit video on social media.
The Financial Institutions Division of the Ministry of Finance said Tuesday that the contract of AFM Shahinul Islam, who had led the Bangladesh Financial Intelligence Unit (BFIU) since January, was terminated with immediate effect “in the public interest.”
The move followed an investigation prompted by Bangladesh Bank after the video surfaced online. A four-member committee reviewed Shahinul Islam’s financial records and commissioned a forensic test of the footage by the Criminal Investigation Department (CID). Authorities said the review of 12 bank accounts found inconsistencies between income and expenditures, and Shahinul Islam failed to provide credible explanations for the sources of his wealth. Forensic analysis also concluded the video was authentic and not AI generated.
The report noted that BFIU officials were unwilling to continue working under his leadership. Based on its findings, the committee recommended his removal.
Shahinul Islam, appointed in January for three years, was dismissed less than eight months into the role. The probe was led by Additional Secretary Md Sayed Kutub of the Financial Institutions Division, alongside senior officials from the ministry and Bangladesh Bank.
