Government will fight arbitration case
Meanwhile, Saiful Alam filed a case in an international arbitration tribunal last October challenging some of the measures taken during the tenure of the interim government. The present government has decided to fight the case on behalf of Bangladesh.
A hearing is scheduled in the United States for June 22, and the Attorney General’s Office is preparing for the proceedings by gathering information about the S. Alam family and their business operations from various government agencies.
In the case filed with the International Center for Settlement of Investment Disputes, Saiful Alam has alleged that the Bangladesh government seized assets and took punitive action against his family on charges of illegal money laundering, resulting in losses amounting to millions of dollars.
The arbitration claim further alleges that the interim government deliberately targeted the family through freezing bank accounts, freezing assets, “baseless” investigations of business activities and a “provocative media campaign”, actions the family says are in violation of international investment agreements.
The case was filed under the bilateral investment treaty signed between Bangladesh and Singapore in 2004. According to legal filings, S Alam family members claim that he gave up Bangladeshi citizenship in 2020 and acquired Singapore citizenship between 2021 and 2023. They argue that, as Singapore citizens, their investments in Bangladesh are protected under international agreements.
Government policy makers said that although the case arose during the period of the interim government, the current administration would continue to defend Bangladesh’s position legally.
On 12 May, the Attorney General’s Office wrote to the Department of Immigration and Passports asking for updated information on the status of Saiful Alam’s national identity card and passport. The department responded the next day, saying that although the passports of Saiful Alam, his wife Farzana Parveen and son Asadul Alam Mahir had expired, they remained active in the system.