Ex-land minister Saifuzzaman has ‘nothing to hide’ about his businesses abroad

He says his father Akhtaruzzaman Chowdhury Babu, a late MP from the ruling party, started business abroad more than 50 years ago

Former land minister Saifuzzaman Chowdhury has admitted to owning businesses and wealth in the UK, but said these were not built with money laundered from Bangladesh.

Currently an Awami League MP from Chattogram-13 constituency, Saifuzzaman came up with clarifications at a press conference on Saturday after Transparency International, Bangladesh and media outlets unearthed his business empire abroad.

He said his father Akhtaruzzaman Chowdhury Babu, a late MP from the ruling party, started business abroad more than 50 years ago, and Saifuzzaman is the heir to those businesses.

Saifuzzaman also did business while studying in the United States, and has income tax documents in the UK.

The Awami League leader said he profited by taking risks after the fall in property prices and the interest rates of bank loans in the UK during the coronavirus epidemic.

The former land minister said, “My business career is over 30 years, about 35 years. And my political career is 11-12 years. My father's overseas business is over 50 years old. My father has trained me in this way, to do business in any country, to do business abroad.

“We do business not only in London-America, but in countries where opportunities arise. There is nothing to hide here.”