Chowdhury Nafeez Sarafat Explained

Chowdhury Nafeez Sarafat is a Bangladeshi Businessman connected to the Awami League government.[1] [2] Sarafat is the founder chairman of the board of trustees of Canadian University of Bangladesh.[3] [4] He was the chairman of Padma Bank PLC.[5] [6]

Early life

Sarafat is from Gopalganj District. His older brother is sports commentator Chowdhury Jafarullah Sharafat.[7]

Career

Sarafat started his career in 1999 at Standard Chartered Bank.[8] He was appointed a director of IFIC Bank and left Standard Chartered Bank after questions where raised about his connections to two banks simultaneously.

Sarafat joined ICB Islamic Bank as the Head of Consumer Banking in 2008.

Sarafat received his Doctorate in Business Administration from Commonwealth University-London on 15 December 2016.[9] The online only university is not credited and the degree is not recognized.[10] [11]

In January 2018, Sarafat was appointed chairman of Farmers Bank Limited, later renamed to Padma Bank, after its chairman Muhiuddin Khan Alamgir resigned over allegations of embezzling from the bank.[12] In 2021, Sarafat and Muhiuddin Khan Alamgir accused each other of being corrupt.[13] Alamgir, who is a shareholder of Padma Bank,[14] asked Bangladesh Bank to investigate a loan of a billion taka to Strategic Equity Management allegedly owned by Sarafat. He is the Head of Consumer Banking of ICB Islamic Bank Limited.[15]

Sarafat is the founding chairman of Canadian University of Bangladesh.[16] The university awards Sarafat Chowdhury Merit Scholarship.[17] In October 2021, Benoit Prefontaine, Canadian High Commissioner to Bangladesh, laid the foundation stone for the permanent campus of Canadian University of Bangladesh in Purbachal in a ceremony presided by Sarafat.[18] The plot, initially earmarked for a school, for the university had been allocated in violation of government rules by RAJUK.[19] Mohammad A. Arafat is chief adviser to the board of trustees.[20]

In 2022, Sarafat became a director of the National Tea Company Limited.[21] He founded two news organizations, Dainik Bangla and newsbangla24.com. He founded Citizen TV with Muhammad Shafiqur Rahman, member of parliament, who later alleged Sarafat and Benazir Ahmed forcefully took shares of the TV from him.

The cartoonist Ahmed Kabir Kishore was arrested under the Digital Security Act for drawing cartoons critical of the government including one where he portrayed Sarafat as a bank embezzler.[22]

Sarafat owns RACE Portfolio and Issue Management which was one of the issue manager in the aborted attempt to list Best Holdings Limited whose permission was denied by Bangladesh Bank.[23] Another issue manager, the government owned ICB Capital Management, denied any involvement with the company.[24] He is a director of Unique Hotel and Resorts Limited, which owns Westin Dhaka.[25] He and his wife are directors of Race Financial Management Inc. and Can-Ban Chambers House, based in Canada.[26] [27] He is a major shareholder of RACE Asset Management. He is a member of the executive committee of Bangladesh Association of Banks.[28] He is the Managing Director of Unique Meghnaghat Power Limited, a subsidiary of Unique group.[29] [30]

Controversary

He manipulated the stock prices of many companies for financial gain and caused losses of crores of taka to general shareholders.[31] [32] [33]

Personal life

Sarafat is married to Anjuman Ara Shahid.[34] She served as the chairman of Strategic Finance and Investment Limited and later director of Southeast Bank.[35] She is the Vice-Chairman of Canadian University of Bangladesh. She also owns shares of Padma Bank. Their request to make their son, Chowdhury Rahib Sarafat, a director of Southeast Bank was denied by Bangladesh Bank as he was under 20.

Notes and References

  1. Web site: 2020-02-20 . A deal undone . 2022-10-05 . Netra News — নেত্র নিউজ . en.
  2. Web site: Bashar . Reazul . Best Holdings episode gets murkier as ICB says it's not part of the game . 2022-10-05 . bdnews24.com . en.
  3. Web site: Nafeez Sarafat graced the IBA- EMBA Orientation as the Chief Guest . 2022-10-05 . Barta24 . 21 June 2019 . en.
  4. Web site: Dr Chowdhury Nafeez Sarafat hands over a crest to Corinne Petrisor . 2022-10-05 . daily sun . May 2019 . en.
  5. News: Nafeez Sarafat steps down as Padma Bank chair on health ground . . 31 January 2024 . en.
  6. Web site: 2019-12-15 . Padma Bank's board meeting held . 2022-10-05 . The Business Standard . https://web.archive.org/web/20230604042927/https://www.tbsnews.net/economy/padma-banks-board-meeting-held . 2023-06-04 . en.
  7. Web site: Khan . Mohammad Jamil . 2024-09-02 . Nafeez Sarafat manipulated stock market . 2024-09-02 . The Daily Star . en.
  8. Web site: ইসলাম . ফখরুল . 2024-08-31 . চৌধুরী নাফিজ সরাফাত: রাষ্ট্রীয় পৃষ্ঠপোষকতায় যাঁর উত্থান . 2024-08-31 . Prothomalo . bn.
  9. Web site: Chowdhury Nafeez Sarafat conferred Doctoral Degree . 2022-10-05 . The New Nation . en.
  10. Web site: Columbia Commonwealth University Higher Education Degree Datacheck . 2022-10-05 . hedd.ac.uk.
  11. Web site: Columbia Commonwealth University-London University Directory . 2022-10-05 . www.university-directory.eu.
  12. Web site: 2018-01-15 . Sarafat selected as Farmers Bank chairman . 2022-10-05 . The Daily Star . en.
  13. Web site: 2021-03-09 . MK Alamgir-Nafeez Sarafat raise allegations of graft against each other . 2022-10-05 . Dhaka Tribune.
  14. Web site: Uddin . AKM Zamir . 2018-12-24 . Farmers Bank to take new name amid image crisis . 2022-10-05 . The Daily Star . en.
  15. Web site: Icb Islamic Bank Limited Bangladesh . 2022-10-05 . www.icbislamic-bd.com.
  16. Web site: 2022-07-03 . Canadian University of Bangladesh congratulates 'Diana Award' winner Anusha Chowdhury . 2022-10-05 . www.dhakatribune.com . en.
  17. Web site: "Sarafat Chowdhury Merit Scholarship" Awarding Ceremony at Canadian University of Bangladesh – Today's World News 24 . 2022-10-05 . en-US.
  18. Web site: 2021-10-25 . Canadian Ambassador lays foundation stone of CUB's permanent campus . 2022-10-05 . The Business Standard . en.
  19. Web site: Masum . Obaidur . Canadian University gets Rajuk's Purbachal plot 'in breach of rules' . 2022-10-05 . bdnews24.com . en.
  20. Web site: Canadian University of Bangladesh protests report, bdnews24.com responds . 2022-10-05 . bdnews24.com . en.
  21. Web site: Padma Bank chair Nafeez enters into NTC board . 2022-10-05 . New Age The Most Popular Outspoken English Daily in Bangladesh . en.
  22. News: Feinstein . Anthony . 2021-10-05 . Despite detention and torture, Bangladeshi cartoonist Kishore continues to use his art to speak truth to power . en-CA . The Globe and Mail . 2022-10-05.
  23. Web site: Bangladesh orders four state banks to explain investments in Best Holdings . 2022-10-05 . bdnews24.com . en.
  24. Web site: Bashar . Reazul . Market analysts question Best Holdings asset value . 2022-10-05 . bdnews24.com . en.
  25. Web site: Westin Dhaka owners, officials' links to Papia will be investigated, RAB says . 2022-10-05 . bdnews24.com . en.
  26. Web site: Race Financial Management Inc. · 777 Warden Avenue # 209, Toronto, ON M1L 4C3 . 2023-01-22 . opengovca.com.
  27. Web site: Anjuman Ara Shahid · 259 Sylvan Avenue, Toronto, ON M1E 1A7 . 2023-01-22 . opengovca.com.
  28. Web site: Executive Committee . 2022-10-05 . www.bab-bd.com.
  29. Web site: Board of Directors – UMPL . 2022-10-05 . en-US.
  30. Web site: 2019-07-24 . Unique group to install 584 MW pp in Meghnaghat . 2022-10-05 . Energy Bangla . en-US.
  31. News: Khan . Mohammad Jamil . Nafeez Sarafat manipulated stock market . The Daily Star . 2 September 2024 . en.
  32. News: Islam . Fakhrul . Chowdhury Nafeez Sarafat: Rising to the top on state patronage . . 31 August 2024 . en.
  33. News: CID begins investigating Nafeez Sarafat over alleged money laundering . . 1 September 2024 . en.
  34. Web site: Chowdhury Nafeez Sarafat's wife becomes director of Southeast Bank . 2022-10-04 . Business Insider Bangladesh . en.
  35. Web site: Uddin . AKM Zamir . 2020-01-14 . BB's baffling move . 2022-10-05 . The Daily Star . en.

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