Court rejects bail plea of Shibli Rubaiyat

Staff Reporter :

A Dhaka court has denied bail to former Bangladesh Securities and Exchange Commission (BSEC) chairman Prof Shibli Rubaiyat Ul Islam in a case involving allegations of fraud through a fabricated house rent agreement.

Dhaka Metropolitan Senior Special Judge Sabbir Faiz issued the order on Thursday after a hearing on the petition. Anti-Corruption Commission (ACC) prosecutor Delwar Jahan Rumi confirmed the development.

Police brought Shibli Rubaiyat to court from jail at around 10am, and he was presented before the Senior Special Judge’s court at approximately 11:40am.

During the hearing, defence counsel Barrister Asifur Rahman argued that the case stemmed from a personal dispute over a land development and rental agreement with a Bangladeshi-origin US citizen in Gazipur in 2021.

According to him, payment made under that contract was later claimed by another party, prompting the complaint.

He further contended that there was no basis to link the allegations to Shibli’s tenure at BSEC, stating that brokerage licences are granted only upon fulfilling regulatory requirements.

The lawyer also sought permission for Shibli to address the court, but the judge declined, stating the defence had already presented its arguments.

As per the case details, Shibli Rubaiyat is accused of taking Tk1.92 crore by forging a house rent agreement and falsely claiming export activities that never took place.

The ACC filed the case over these allegations. Shibli was arrested on 4 February from Dhanmondi and has been in custody since.