Allegations of massive wealth accumulation by Shahidul Islam, a 13th batch officer of Bangladesh’s National Board of Revenue (NBR), have sparked renewed public debate over corruption and accountability in the country's public sector. An investigative report claims that Shahidul and members of his family have amassed assets worth nearly Tk 500 crore, despite spending their careers as government employees.
According to the report, a vast portfolio of apartments, residential buildings, land plots, commercial properties, and stock market investments has been traced to Shahidul Islam, his wife Fahmida Rabbi, and close relatives. The revelations have prompted calls for a thorough investigation into the sources of the family's wealth and whether the assets were acquired through legitimate means.
A 10-Storey Apartment Building in Bashundhara
One of the most significant assets linked to Shahidul Islam is a ten-storey residential building named “Shell Kobita” located in Block G of Dhaka’s prestigious Bashundhara Residential Area. The building reportedly contains 20 apartments, with two units on each floor.
Real estate professionals familiar with the area estimate that each apartment is worth at least Tk 5 crore, placing the value of the apartments alone at approximately Tk 100 crore. Including the land value, the total worth of the property is believed to be substantially higher. Shahidul and his family are reportedly residing in this building.
More Than 30 Additional Apartments Across Dhaka
Beyond Bashundhara, investigators reportedly identified another 33 apartments registered under the names of Shahidul Islam, his wife, and close family members.
In Banglamotor’s Swajan Tower, Shahidul reportedly owns two apartments valued at around Tk 4 crore. In Rupnagar’s Arambagh Residential Area, a six-storey building owned by his wife contains ten apartments with an estimated market value of approximately Tk 30 crore.
Additionally, a luxury apartment in Gardenia Tower on Eskaton Garden Road, registered in the name of Fahmida Rabbi, is estimated to be worth around Tk 4 crore.
Properties in Mirpur
The investigation also identified a six-storey building in Eastern Housing, Mirpur, allegedly constructed under the name of Shahidul’s wife. The building contains 20 apartments and is estimated to be worth more than Tk 20 crore.
Documents reportedly indicate that ownership of the property was later transferred to four of Shahidul’s brothers-in-law. Their names appear in property records as Kazi Muktadir Ibne Minan, Kazi Mutamid Ibne Minan, Kazi Muttaqi Ibne Minan, and Kazi Mustaqim Ibne Minan.
Combined, the 53 apartments and two commercial shops linked to Shahidul, his wife, and relatives are estimated to be worth at least Tk 162 crore.
Land Holdings and Industrial Assets
The report further claims that two plots in Eastern Housing have been leased to a plastic manufacturing facility. The 17.44-decimal property is estimated to be worth around Tk 20 crore.
Another 33-decimal plot in the Garan Chatbari area near the Mirpur embankment is believed to have a market value of at least Tk 30 crore.
Commercial Shops in Prime Locations
Shahidul Islam is also alleged to own commercial properties in some of Dhaka’s busiest business districts.
A shop located in Aziz Super Market, Shahbagh, is reportedly registered in his name and valued at approximately Tk 2 crore. Another shop in New Market is estimated to be worth more than Tk 2 crore, bringing the combined value of the two properties to over Tk 4 crore.
Luxury Bungalow and Extensive Land in Savar
Outside Dhaka, investigators reportedly found a luxury bungalow named “Senjuti” in Madhumati Model Town, Savar. Built on 35 kathas of land, the property has attracted local attention because of its scale and design.
According to local estimates, the land alone is worth around Tk 10 crore.
The report also alleges that Shahidul owns five additional plots within the same development project. Some are leased as garages, livestock farms, and heavy-equipment storage facilities. Together, these plots reportedly cover 320 kathas of land and are estimated to be worth approximately Tk 90 crore.
Six Plots in Purbachal
Investigators also identified six plots owned by Shahidul and his wife in various locations within Purbachal. The combined market value of these properties is estimated at around Tk 62 crore.
In addition, land registered in Shahidul’s name was reportedly found in Kaliganj, Gazipur, with an estimated value exceeding Tk 1 crore.
Tk 80 Crore in Stock Market Investments
Apart from real estate holdings, the family is alleged to have substantial investments in the capital market.
According to the report, a Beneficiary Owner (BO) account registered in the name of Fahmida Rabbi contains stock market investments valued at approximately Tk 80 crore. Investigators also reportedly confirmed significant cash deposits in a bank account under her name.
Business Ventures of His Son
The investigation further claims that Shahidul helped establish several businesses under the name of his son, Hasin Farhan.
Operating from an office in a premium commercial tower in Bashundhara, Farhan is reportedly involved in architecture, interior design, and marketing ventures under the Velocity Group brand. Sources cited in the report claim that Shahidul provided at least Tk 5 crore in startup capital for these enterprises.
Questions Over Income Versus Assets
Former and current customs and tax officials interviewed for the report argued that a government officer’s lifetime legitimate earnings, including salary, allowances, foreign training benefits, and retirement payments, would amount to only a few crore taka.
According to their estimates, after accounting for living expenses and family expenditures, it would be difficult for a civil servant to accumulate more than Tk 2.5 to Tk 3 crore in savings throughout an entire career.
Against that backdrop, the reported assets linked to Shahidul Islam and his family have raised serious questions regarding the source of the wealth and whether it can be justified through legal income.
Calls for Investigation
Experts emphasize that allegations alone do not establish wrongdoing. The true ownership of the assets, their sources of funding, tax compliance records, and the legality of their acquisition can only be determined through a transparent and impartial investigation by the relevant authorities.
Nevertheless, the allegations against a senior official of the National Board of Revenue have generated widespread public concern. Civil society representatives and anti-corruption advocates have called for a comprehensive inquiry into the matter. They argue that if any assets are proven to have been acquired illegally, appropriate legal action should be taken and unlawfully acquired wealth should be confiscated in accordance with the law.
Disclaimer: The information presented in this report is based on allegations and claims published in an investigative report. The accuracy of these claims remains subject to verification by relevant authorities, and any determination of liability must ultimately be made through due legal process and judicial review.