Dhaka, July 31 -- In a significant development in Bangladesh's ongoing anti-corruption efforts, former Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam and prominent businessman Salman F Rahman have been permanently banned from participating in the capital market. The decision follows their alleged involvement in the high-profile IFIC Bank 'Amar Bond' scandal, widely regarded as one of the most serious financial frauds in recent years.

The scandal came to public attention earlier this year when Shibli Rubayat-previously known for spearheading key capital market reforms-was arrested on 4 February 2025 in Dhaka's Dhanmondi area. His arrest followed a formal case lodged by the Anti-Corruption C...