Bangladesh needs strong institutions led by competent professionals, says Toufique Khalidi

bdnews24.com editor-in-chief stresses that reforms are not only necessary, but urgent

Marking 18 years of bdnews24.com’s impactful journey, Editor-in-Chief Toufique Imrose Khalidi has reflected on the challenges and experiences including undeserved wrath of the influential quarters and fake cases the news outlet faced.

Speaking on Tuesday, Khalidi emphasised the urgency of institutional reforms, highlighting how agencies such as the Anti-Corruption Commission, or ACC, judiciary, and intelligence agencies have been misused by political and private actors wielding ill-gotten wealth.

In his words, Bangladesh needed stronger institutions, led by competent professionals, to ensure accountability and fairness.

Khalidi highlighted his observation from his experience as bdnews24.com, which took the news service in Bangladesh to digital era, marked its 18 years in business.

BNP leaders Shaheed Uddin Chowdhury Annie and Asaduzzaman Ripon, Ganosamhati Andolan’s Chief Coordinator Zonayed Saki, Philippine Ambassador to Bangladesh Leo Tito L Ausan Jr, Dhaka Metropolitan Police Commissioner Md Mainul Islam, Emeritus Professor ABM Abdullah of Bangabandhu Sheikh Mujib Medical University, along with government officials and top figures from different sectors of Bangladesh were present at the event at the Radisson Blu Water Garden Hotel.

Since the news outlet’s launch 18 years ago, it became customary for to express gratitude to the leading newsmakers across the national spectrum. It was an annual event. However, Khalidi explained why it took eight years to get all changemakers at one stage after the tenth anniversary of bdnews24.com.

“The past few years have been anything but normal. The annual dinner, like so much else, became a forgotten tradition during those challenging times. While many are familiar with the broad strokes of our struggles, the full story remains untold. Tonight, I will offer a glimpse into what truly transpired—of course, from our perspective,” he said.

bdnews24.com’s story was not just about the journey of a news publisher navigating an untested business model in a hostile political environment, the editor-in-chief editor said.

He added, “It was also a story of passion, resilience, and the relentless pursuit of excellence.”

Khalidi said bdnews24.com has always prioritised accountability to the public, readers, and its audience, never swayed by fear or favour.

He continued, “Even in the turbulent days of 2007–08, when a military-backed caretaker government was in power, and in subsequent years, we refused to align ourselves with any authority. Financially, we paid the price, but the thrill of doing the right thing sustained us through those years of chronic underinvestment.”

Five years ago, however, things took a darker turn. Political abuse of power, misinformation, intolerance, and the refusal to accept journalistic truth created an environment of fear.

It was a time when the bdnews24.com team was working to expand its news service and innovate ideas, despite facing a baseless five-year investigation by the Anti-Corruption Commission, or ACC.

In October 2019, asset management company LR Global Bangladesh invested Tk 500 million in bdnews24.com. A vested quarter became active following the investment.

Share transactions were blocked at the Bangladesh Securities And Exchange Commission, and the Anti-Corruption Commission filed a corruption case against the news outlet. In many ways, bdnews24.com was challenged creating a ‘strangling,’ situation for it.

“Political abuse of power, misinformation, intolerance, and the refusal to accept journalistic truth created an environment of fear. My young colleagues ventured into “forbidden” territories, and the backlash was swift and relentless. Assaults came from every direction, culminating in a baseless five-year investigation,” Khalidi said recalling those days.

Khalidi attempted to explain the circumstances behind bdnews24.com's investment treaty and the financial situation in early 2020 in a piece titled ‘All for Journalism’. The investment was needed for the development and expansion of bdnews24.com, he wrote in the article.

In addition, staff members remained unpaid for a long time due to an ‘investment crunch,’ which led the editor-in-chief to sell company shares at Tk 12,500, even though the price was Tk 37,100.

“The ACC kept moving the goalposts, as one of my lawyers put it, in an effort to prolong the harassment,” said Khalidi.

He continued, “The ACC alleged that the money they claimed to have found in my bank accounts had no known sources, only to mention the source in the very next sentence: the sale of shares. The figures cited in their letters kept changing. They accused me of money laundering but, in the same letter, detailed money transfers from one Bangladeshi account to another Bangladeshi account as part of a deal between two companies incorporated in Bangladesh.”

The editor-in-chief said ACC’s final letter to the court presented entirely different figures while seeking to retract all previous submissions.

He recalled that during their first meeting in November 2019, the investigation officer, or IO, admitted to him that they were simply following orders from higher-ups.

“What a mockery of the independence of a Constitutionally-mandated state agency tasked with fighting corruption!”

Khalidi said ACC kept requesting more time from the court, claiming the case was so complex that they needed additional time to investigate.

He added, “Finally, I received a call and was told that, since the people who had forced them to initiate and pursue the case were no longer in the picture, they were ready to stop this charade.”

Finally, ACC closed the case in September this year. “While this ordeal caused lasting financial damage, it also taught us valuable lessons. We gained firsthand insight into the inefficiency and corruption within key institutions,” the editor-in-chief said.

“Reforms are not just necessary—they are urgent,” he added.

Khalidi highlighted that reform was necessary in all sectors.

“Bangladesh faces profound institutional weaknesses. Regulatory bodies, which should safeguard public interests, have been eroded for personal and political gain,” he said.

He continued, “We need stronger institutions, led by competent professionals, to ensure accountability and fairness. At bdnews24.com, while we are prepared to hold regulators to account, we don’t mind being held to account too. But it is important to be fair.”

The editor-in-chief of bdnews24.com also said the media, too, required better understanding and regulation.

Television licences, for example, were distributed based on political favouritism rather than merit, he said. The formula failed spectacularly. “Objective, independent media is essential—not just for holding power to account, but also for providing constructive feedback to those in leadership. Without it, poor decisions and flawed perceptions are inevitable.”

The celebration kicked off with presenting the national anthem and ended with the speech by the editor-in-chief followed by a dinner.

bdnews24.com launched at the start of 2005. Like other news agencies, 'bdnews' used to supply news to other media outlets. While others used teleprinters to supply news, bdnews began to use the internet.

In 2006, the news outlet went through an overhaul with changes in its ownership and management. Led by Editor-in-Chief Khalidi, the new management transformed the news outlet into the first ever dotcom company in the country.

Over the 18 years of its journey, bdnews24.com has chronicled history while reporting the news. It carved out an innovative path in the news sector that was then trod by many others.

Recalling the early days of bdnews24.com as a 24/7 news publisher, Khalidi emphasised that accurate and ethical gatekeeping was always a top priority. "The cost of this commitment has been high. Accuracy often means being slower, as we refuse to compromise on authenticity," he said.

Despite the challenges, bdnews24.com persevered.

“Until a few years ago, we had an audience larger than all other news publishers combined. Though financial struggles have since slowed us down, our commitment to excellence remains steadfast,” Khalidi added.

He concluded by saying, “Now is the time for rebuilding, repair, and renewal.”