Chowdhary Nafeez Sarafat rejects news report

Dhaka, Bangladesh || Sunday, 21 December 2025 || 6 Poush 1432

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Chowdhary Nafeez Sarafat rejects news report

Peoples Time Desk

Published : Wednesday, 17 December, 2025 at 1:25 AM, Count : 96

Chowdhary Nafeez Sarafat rejects news report

Chowdhary Nafeez Sarafat has protested a news report published in Bangladesh Pratidin, describing the allegations against him as false, misleading and unfounded.

In a statement, Sarafat said he began his professional career at Standard Chartered Bank in 1999 and later became an independent director of IFIC Bank in 2008. He said Bangladesh Race Asset Management Company Limited was established on March 3 of the same year as part of an initiative to ensure market stability. Presenting this initiative as “lobbying” or an exercise of personal influence, he said, was entirely incorrect and misleading.

Referring to claims about his family ties, Sarafat said he is not associated with any political alliance. He denied any involvement as a shareholder, sponsor or director of Best Holdings Limited or Coppertech Industries Limited and said he played no role in approving the initial public offerings of those companies. He also rejected allegations linking him to the coordination of foreign election observers in 2018, calling them baseless. Claims of his involvement in the arrest of cartoonist Ahmed Kabir Kishore and writer Mushtaq Ahmed, he said, are completely fabricated and false.

Sarafat further said Padma Bank never invested in Strategic Equity Management Limited. He explained that the bank’s board approved an investment in an alternative investment fund in line with applicable rules and that he has no connection with the institution mentioned. He added that references in the report to 84 fake employees and loan fraud relate to incidents that occurred long before his appointment.

Addressing land-related allegations, Nafeez Sarafat said land in Purbachal was legally acquired in the name of the Canadian University of Bangladesh Trust through a lottery process, with all government fees duly paid. He also said the change of land use on Road No. 103 in Gulshan was carried out in accordance with RAJUK rules and required payments. Allegations of forced or midnight transfer of Citizen TV shares, he said, are entirely false.

Chowdhary Nafeez Sarafat noted that the Anti-Corruption Commission (ACC) seized his and his family’s properties following court orders. He added that all his investments were made through Bangladesh Bank-regulated foreign investment channels and said the report’s claims of his association with various companies are not supported by any documentary evidence.

Reporter's statement: The reports were prepared based on accurate information and data.

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