Awami League–Linked Asiatic Seeks to Regain Activity After Major Concessions to BNP

Staff Correspondent

• 17 years of business with close ties to power
• Cornered after the fall of the government.
• Now trying to return to a new political asylum

During the long 17-year rule of the Awami League government, Asiatic was accused of influencing the advertising, event and media businesses of various government and private organizations as a close confidant of the center of power. After the fall of the Sheikh Hasina government in 2024, the company lost that influence and was cornered. After some of the owners were sued and they left the country, many avenues of business were closed. There were also cases of bank accounts being seized by the National Board of Revenue (NBR).

However, less than two years after the political upheaval, this organization, known to be close to the Awami League, is trying to become active again. Sources claim that Asiatic is trying to return to business by forging new political connections through a foreign leader close to the BNP government.

In continuation of this, a director of the company based abroad is contacting the owners of various financial institutions including UCB and City Bank. Sources also claim that efforts are being made to restructure old business relationships and take up new advertising and event work.

According to those involved, a major feature of Asiatic’s business strategy is to influence the market by building close ties with those in power. During the Awami League government, the company was accused of using that influence to obtain large amounts of advertising, corporate events and media business from various domestic and foreign institutions, including banks and financial institutions. Now, with the changing political reality, attempts are being made to gain a place in new centers of power using the same strategy.

Asiatic Group founder Asaduzzaman Noor was once known to be close to influential circles of the Awami League government. Those involved claim that he also had close ties with the Akhtaruzzaman and Javed families of UCB Bank. There are also allegations that crores of taka were illegally diverted in the name of cricket and Bangladesh Premier League (BPL) advertisements and sponsorships.

Sources have alleged that a large portion of the money received in the name of sponsorship of the women’s football league and television advertisements for cricket was also diverted through various channels. This includes allegations of money laundering through foreign bank accounts by the then director of UCB, Anisuzzaman Rony. If statements from the concerned parties are received regarding these allegations, they will be added to the report.

Although Asiatic’s old influence has been shattered after the political change, new questions have arisen about the organization’s current activities. Especially after taking advantage of the long rule of the Awami League, the discussion is whether this attempt to build closeness with the BNP with the change of government is a business necessity or a strategy to regain its old position by using political influence.

Sources say that Asiatic’s attempt to re-enter the market has begun amid a long-standing controversy over the use of political influence in advertising and event businesses. As a result, it has become a matter of close attention to which political circle the company is seeking to restructure its business.