DHAKA, Jan 8, 2026 (BSS) - The Criminal Investigation Department (CID) has filed a case against chairman, managing director (MD), and several other directors of Alif Industries Ltd. on charges of laundering a massive amount of money abroad under the guise of export–import trade.

The case has been lodged against five individuals - Alif Industries Chairman Md. Azizul Islam, managing director Md. Azimul Islam, and directors Md. Rafiqul Islam, Tanim Noman Sattar and Md. Azharul Islam. 

The case was filed with Gulshan Police Station on January 7, 2026, under Sections 4(2) and 4(4) of the Money Laundering Prevention Act, 2012, against the accused directors and concerned officials.

Special police super of CID, media, Md Jasim Uddin Khan confirmed filing the case. 

Initial investigation revealed that the accused, allegedly acting in collusion, accepted 56 export proceeds (EXPs) through Export Import Bank of Bangladesh PLC, Head Office Corporate Branch in Gulshan, Dhaka, but failed to repatriate the export earnings within the stipulated timeframe after exporting readymade garment products.

Investigators further alleged that Alif Industries Ltd. declared legal imports but, in reality, imported lesser quantities or entirely different goods than those mentioned in the import documents. Through these irregularities, the company is accused of smuggling approximately USD 284.04 million abroad. At the current market rate of Tk 122 per US dollar, the amount stands at around Tk 29.77 billion.

The CID claims that the funds were transferred overseas in direct violation of Bangladesh Bank’s foreign exchange management policies. The irregularities were identified after scrutinizing documents related to the company’s registered office and factory, import and LC documents, bank statements, and other financial records.

The investigation found evidence of discrepancies in both price and quantity of imported goods, leading to significant financial losses for the state through misuse of foreign currency and money laundering.

The Financial Crime Unit of the CID is currently conducting a detailed investigation to uncover the full extent of the alleged crime, identify other possible individuals involved, and proceed with further legal actions.

The CID officials stated that the agency is treating the case with utmost priority as part of its ongoing efforts to curb money laundering and financial crimes, reaffirming its commitment to bringing all those involved under justice.