HM Ershad and Rowshan Ershad: Of couples and their wealth | Daily Star
12:00 AM, December 02, 2018 / LAST MODIFIED: 01:05 PM, December 02, 2018

Nominee Affidavits

Of couples and their wealth

Wives of Jatiya Party Chairman HM Ershad and Workers Party of Bangladesh Chief Rashed Khan Menon seem to be wealthier than their husbands.

The income of Home Minister Asaduzzaman Khan's wife increased at a pace faster than that of her husband in the last 10 years.

Things are different for businessman Salman F Rahman. He claims a monthly income of only Tk 50,000 from his businesses. He did not mention ownership of any electronic items or furniture but said he had more gold than his wife had.

These “facts” came from the affidavits they submitted along with the nomination papers to the offices of returning officers for the December 30 general election.

According to Ershad's wealth statements of the past three elections, his main sources of income are shares of various companies, unspecified businesses, salaries from various companies, and honorariums. None of the sources were specified. 

Most of Raushan's income comes from shares, investments, leases, and “miscellaneous”.

Ershad in his 2018 statement mentioned that his yearly income was Tk 1.08 crore. Raushan in her statement said she earns Tk 1.13 crore.

Among Ershad's latest acquisitions are two flats in Gulshan and Banani, worth Tk 6.2 crore and Tk 4.9 crore.

He took out Tk 56 lakh in loans from Union Bank Ltd of which he is a director and draws a yearly salary of Tk 74 lakh.

Ershad also took a Tk 1.7 crore loan from First Security Islami Bank. His loan from this bank was Tk 2.8 crore in 2014.

Raushan has TK 35.1 crore in liquid capital.

There are six cases against Ershad. Twenty-seven other cases against him had been resolved. Raushan had one case against her in connection with corruption for which she had to pay a fine.


Workers Party of Bangladesh President Rashed Khan Menon has less cash, savings, and property than his wife.

His wife has around Tk 7.96 lakh in cash while Menon has around Tk 7.57 lakh, according to his affidavit submitted to the returning officer.

Menon, minister for social welfare, has savings of Tk 30,000 while his wife has Tk 45 lakh.

He has a piece of land worth Tk 37.20 lakh and his wife has a flat worth Tk 1.5 crores. He earned Tk 3 lakh annually from business in 2008. The earning from the same source doubled in 2014.

In his 2018 affidavit, he said he earns Tk 12.60 lakh a year from a "job".

Earlier Menon owned two cars worth Tk 13.50 lakh but now he uses a Toyota Landcruiser worth Tk 61.85 lakh.

He had loans of Tk 16.26 lakh from different banks and financial institutions in 2008. But now Memon has a loan of Tk 10 lakh from his friend.


In 10 years, the annual income of Home Minister Asaduzzaman Khan's wife has increased over 48 times.

In 2008, she earned Tk 1,25,386 -- Tk 18,000 from a "job" and another Tk 1,07,386 as dividends from shares and saving certificates/bank deposits. This year, her income jumped to Tk 60.85 lakh, according to Asaduzzaman's affidavit submitted to the returning officer for the December 30 polls.

She earned Tk 49.22 lakh from business while Tk 1.80 lakh from her job, say documents which do not mention her name and the job.

The yearly income of Asaduzzaman also went up by three-and-a-half times over the 10 years. From Tk 18.40 lakh in 2008, it has become Tk 64.79 lakh.

An analysis of the affidavits submitted before the three last polls shows a gradual rise in the volume of property in the name of the minister and his wife.

Asaduzzaman mentioned in the affidavit's that he has Tk 4.44 crore in different banks and financial institutions. He also has vehicles worth around Tk 1.14 crore.

His statement mentions asset worth about Tk 1.93 crore in the name of his wife. Of the amount, Tk 87.26 lakh was mentioned as capital for business.

The affidavit that Asaduzzaman submitted before the 2014 parliamentary polls showed that he had wealth worth Tk 1.89 crore while his wife had Tk 28.80 lakh. Besides, he also mentioned asset worth Tk 69.30 lakh in his children's names.


Industrialist Salman F Rahman, who made the list of billionaires of the world last year, earns only Tk 50,000 per month from his businesses and claims to have no furniture and electronic durables.

The information came up in the affidavit he submitted to the returning officer.

The vice-chairman of Beximco Group -- one of the largest conglomerates in Bangladesh with an annual revenue of Tk 7,000 crore -- declared an annual income of Tk 6 lakh from his business.

However, his total annual income from other sources, including shares, savings instruments, honorariums, is Tk 9.34 crore, according to his income statement.

He owns cars worth Tk 34 lakh.

Salman, nominated by the Awami League for Dhaka-1, has more gold than his wife. The value of the gold he possesses is worth Tk 15 lakh while his wife has gold worth Tk 1.80 lakh.

He was ranked 1,685th on the list of billionaires by Beijing-based Hurun Gobal in 2017.

The billionaire has cash worth Tk 2.10 crore while his wife Syeda Rubaba Rahman has only Tk 60,000 in cash, according to the property disclosure in the affidavit.

Salman, who has been acting as the private sector development affairs adviser to Prime Minister Sheikh Hasina since 2009, claimed that he earns around Tk 33,000 a month leasing out properties, including a 33-decimal land and the buildings on it in the capital's Dhanmondi area.

In 2016, Sonali Bank put up this mortgaged property for auction in an attempt to recover default loans of Tk 229 crore.

The auction was later stayed by the High Court.

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