‘SHUJAN’ Receives 25 Million, ‘Debate for Democracy’ Gets 2 Million for ‘Yes’ Vote Campaign

At a press conference held on April 23 in front of Dhaka University’s Madhu’s Canteen, a faction of the Anti-Discrimination Student Movement (ADSM) alleged the concealment of information regarding 10 million BDT provided by Bangladesh Bank for campaigning in favor of ‘Yes’ in the referendum, alongside accusations of fund misappropriation.

The allegations were brought against former ADSM Ex. President Rifat Rashid, Organizing Secretary Moinul Islam, and Chief Coordinator Hasib al-Islam by the platform’s spokesperson Synthia Jahin Aisha, Senior Joint General Secretary Mashrafi, and Atiq Shahriar, the convener of the Combined Private University students.

Subsequently, discussions emerged regarding the process through which Bangladesh Bank provided this money. Later, Rifat Rashid confirmed the receipt of these funds. He stated that although they are not a registered organization, the money was strategically funneled to them through another organization named ‘Sade Foundation.’ Bangladesh Bank provided this amount for only seven days of campaigning in favor of the ‘Yes’ vote in the referendum.

Not only the ADSM, but several other organizations also received funds from Bangladesh Bank and banks’ CSR (Corporate Social Responsibility) funds to campaign for the ‘Yes’ vote. Among them is the organization of Badiul Alam Majumdar, who has held various responsibilities under the interim government led by Muhammad Yunus. The civic organization ‘Sushashoner Jonno Nagorik’ (SHUJAN) was granted 25 million BDT. Additionally, 2 million BDT was granted to the debate organization ‘Debate for Democracy’ from the same fund.

While the information regarding the 10 million BDT given to ADSM surfaced recently, the news of grants to SHUJAN and Debate for Democracy was published in January this year. On January 26, 2026, several media outlets, including the daily Bonik Barta, published reports on this matter.

Masrur Arefin, Chairman of the Association of Bankers, Bangladesh (ABB) and Managing Director of City Bank, told Bonik Barta at that time, "A total of 27 million BDT has been provided to SHUJAN and Debate for Democracy on behalf of ABB. Of this, 25 million BDT was given to SHUJAN, and the remaining 2 million BDT was given to Debate for Democracy. We were informed that this money would be used for the ‘Yes’ vote campaign and the organization of electoral debates. We provided this money following the instructions and advice of Bangladesh Bank."

The newspaper report stated that a meeting between the MDs of all banks and Bangladesh Bank Governor Dr. Ahsan H. Mansur was held on January 11. In that meeting, known as the ‘Bankers’ Meeting,’ the Governor raised the issue of supporting the ‘Yes’ vote campaign in the referendum. According to related sources, the proposal to provide grants to ‘SHUJAN,’ ‘Debate for Democracy,’ and the ‘Anti-Discrimination Student Movement’ was raised following the advice of relevant government departments.

Regarding this, several Bangladesh Bank officials stated that no one raised objections during the meeting about granting funds to SHUJAN and Debate for Democracy. However, many MDs objected to how money would be given to the Anti-Discrimination faction, as it is not a registered party or organization and lacks a bank account. When the question arose as to whose name the money would be issued, that specific proposal was cancelled.
Arif Hossain Khan, Executive Director and Spokesperson of Bangladesh Bank, said, "SHUJAN is well known as a civic organization, and Debate for Democracy is recognized for organizing debates. Their activities are visible in society. The matter of providing funds was raised at the Bankers’ Meeting based on applications from these two organizations. Given the small amount and the logic of the proposal, none of the bank executives objected. However, when the context of providing grants to the Anti-Discrimination faction came up, that proposal was not passed."

Dr. Badiul Alam Majumdar, Secretary of SHUJAN, confirmed receiving 25 million BDT through ABB from the banks’ CSR funds. He told Bonik Barta at the time, "SHUJAN has long been campaigning for civil rights, public awareness, and reform in Bangladesh. Personally, I was on two reform committees formed by the interim government. In that regard, we are in favor of the ‘Yes’ vote for the implementation of the July Charter. We took the grant from the banks’ CSR fund to motivate the public toward state reform. The proper expenditure of this money will be ensured." Hassan Ahmed Chowdhury Kiron, Chairman of Debate for Democracy, also confirmed receiving 2 million BDT from ABB.

CSR is generally considered a form of business etiquette or practice where a business includes fulfilling responsibilities toward society within its regulations. Its purpose is to mitigate environmental impacts caused by business activities and to reduce social resentment, inequality, and poverty. Currently, worldwide, CSR expenditure is seen as a key responsibility of corporate institutions. Bangladesh Bank first issued a circular in 2008 providing guidelines for banks to spend in the CSR sector. Subsequently, several circulars and regulations were issued. A circular issued by the central bank on January 9, 2022, directed banks and financial institutions to spend 30% of their total CSR in education, 30% in health, 20% in climate change mitigation and adaptation, and 20% in other sectors (income-generating activities, disaster management, infrastructure, sports, culture, etc.). On November 29 of the same year, another circular stated that 5% of the total CSR expenditure must be given as a grant to the Prime Minister’s Education Assistance Trust Fund.

Meanwhile, although the information published in January did not include money given to the Anti-Discrimination Student Movement, the issue came to the forefront recently due to the press conference and the internal disputes among the organization’s leaders. Regarding the allegations brought at the press conference, Rifat Rashid provided an explanation on his Facebook profile on the night of April 24.

In the Facebook post, Rifat Rashid said, "We needed funds for the ‘Yes’ vote campaign in the referendum. We contacted several institutions to collect those funds. Finally, Bangladesh Bank agreed to provide us with funds. But a hurdle arose because the Anti-Discrimination Student Movement is not a registered organization of the government. Bangladesh Bank cannot grant or sponsor a non-registered organization."

Regarding the collection of funds for the referendum campaign, Rifat said, "As part of our 15-day plan for the referendum campaign, an agreement was signed with Bangladesh Bank to provide 50 million BDT. However, due to the shortage of time before the vote, Bangladesh Bank gave 10 million BDT to the registered Sade Foundation for a 7-day campaign. Subsequently, as you know, a 7-day referendum campaign was conducted across the country on behalf of the Anti-Discrimination Student Movement."

Rifat claimed that the complete financial accounts of the referendum campaign were audited by an audit firm listed by Bangladesh Bank, as per the agreement. That audit report has been submitted to the relevant department of Bangladesh Bank.

No statement was available from Bangladesh Bank regarding the use of CSR funds for political purposes.