In a significant development, Bangladesh’s tax authorities have decided to unfreeze the bank accounts of former Prime Minister Khaleda Zia, ending a 17-year-long freeze imposed on her financial assets. The National Board of Revenue (NBR) issued instructions to banks to lift the freeze on former Prime Minister Khaleda Zia’s accounts, a move reported by the Daily Star newspaper on Monday.
The decision to freeze former Prime Minister Khaleda Zia’s accounts dates back to August 2007 when the NBR’s Central Intelligence Cell, operating under an Army-backed caretaker government, ordered the block. This action was based on recommendations from a panel set up during that period. The freeze was part of broader political and legal issues that plagued former Prime Minister Khaleda Zia, who has served as Bangladesh’s Prime Minister on two separate occasions.
Former Bangladesh PM and the the Chairperson of the Bangladesh Nationalist Party (BNP), Khaleda Zia has been a prominent political figure, leading the party since the early 1990s. Her financial accounts have remained frozen since the directive in 2007, despite numerous demands from the BNP for their release. The unfreezing of her accounts comes amid recent political upheaval in Bangladesh.
The move to lift the freeze follows a significant shift in the country’s political landscape. On August 5, Sheikh Hasina, the long-time rival of Khaleda Zia and leader of the Bangladesh Awami League, was ousted following a mass uprising. Hasina’s departure led to the installation of an interim government headed by Nobel laureate Muhammad Yunus on August 8.
The two time Bangaldesh PM Zia (79), had been in house arrest under the previous administration, but she was released shortly after Hasina fled to India. This change in political climate has prompted the NBR to reassess the situation regarding former Prime Minister Khaleda Zia’s bank accounts.
According to an NBR official, the decision to unfreeze the accounts came after former Prime Minister Khaleda Zia’s lawyer submitted an application requesting the removal of the block. The official confirmed that there were no pending tax-related investigations concerning former Prime Minister Khaleda Zia, leading to the directive for banks to unlock her accounts. Banks have been instructed to act promptly and submit a compliance report once the accounts are reactivated.
Former Prime Minister Khaleda Zia’s political career, marked by her two terms as Prime Minister from 1991 to 1996 and again from 2001 to 2006, has been overshadowed by various legal and political challenges. The unfreezing of her accounts marks a notable shift in the political dynamics of Bangladesh.
