400 Crore Taka Tuition Fee Allegation: Doubts Over Press Secretary’s Dubious Claims

Staff Correspondent

Shafiqul Alam, the Press Secretary to the Chief Adviser, recently claimed that an individual transferred 400 crore Taka abroad under the guise of tuition fees for his child. However, multiple sources within the National Board of Revenue (NBR) suggest that this massive sum was not sent by a single individual but rather through multiple entities. This claim has raised significant skepticism within the banking sector.

A senior executive of a leading private bank in the country termed such a large transfer “highly unusual.” The executive stated that their bank, which handles the highest number of accounts for students going abroad, follows strict regulations for foreign transactions related to education. He explained, “Banks must go through multiple verification processes before approving funds for students studying abroad. Additionally, details of accounts opened in students’ names must be submitted monthly to Bangladesh Bank, which conducts regular reviews. Any suspicious transactions flagged during this process require accountability from the bank.”

Typically, the annual tuition fees at foreign universities range from $20,000 to $30,000, with total yearly expenses, including living costs, reaching up to $60,000. This amounts to approximately 1.5 to 2 crore Taka. Experts argue that transferring 400 crore Taka for a single student’s tuition fees is nearly impossible.

The banking executive further stated, “Banks verify tuition fees and living costs directly from university websites before approving payments. Transactions are immediately reported to the central bank. This leaves minimal scope for excessive money laundering. Funds are deposited directly into the university’s account, making it difficult to misuse educational expenses for money laundering.”

Additionally, strict monitoring exists for returning funds from student accounts. If a student’s visa is denied or admission is canceled, the university must return the funds through the bank.

Banking experts believe that if such a transfer of 400 crore Taka occurred, it was likely a deliberate attempt to launder money under the pretext of tuition fees. The matter awaits further investigation by Bangladesh Bank and relevant authorities.

Prominent figures have criticized Shafiqul Alam for making such unsubstantiated claims while holding a key position in the interim government. They argue that such baseless information could tarnish the public perception of the Awami League government.

The interim government was entrusted with power following the July protests, with the expectation of conducting credible investigations into the long-standing allegations of corruption. However, critics believe that these unfounded claims are merely distractions and do little to address the core issues, ultimately undermining the credibility of the current administration.