The wealth of Khandaker Naima Nusrat, wife of BNP candidate Nazrul Islam Azad, has increased by 841 times in the last seven years.
By contrast, the BNP-nominated candidate for Narayanganj-2 (Araihazar) constituency, in his affidavit for the 13th national parliamentary election, disclosed that he personally owns no residential property or private vehicle. He, however, has outstanding loans amounting to Tk27 crore.
At the same time, the affidavit shows a sharp rise in the wealth and cash holdings of his wife, Khandaker Naima Nusrat, whose assets have grown 841 times over the last seven years. Several crores of taka in loans have also been repaid during this period.
In the affidavit, Azad declared the income, assets and liabilities of himself and his dependent wife and children. The document shows that his wife’s current assets are more than 12 times higher than his own.
Azad contested the Narayanganj-2 seat as a BNP candidate in the 11th parliamentary election in 2018. He currently serves as an assistant organizing secretary for the BNP’s National Executive Committee.
According to the affidavit, Azad’s total movable and immovable assets stand at Tk 1.29 crore. His wife’s total assets amount to Tk 16.82 crore.
In the 2018 affidavit, Azad declared that his wife possessed only Tk 2 lakh in cash at that time. The latest affidavit shows that her assets have increased 841 times since then.
Nazrul Islam Azad, who lists his profession as a business owner, declared an annual income of Tk 94,000, and no other sources of income. The affidavit does not specify the nature of their businesses.
His wife, however, who “earns” an amount from the business, declared an annual income of Tk 6.99 lakh. In addition, Azad mentioned that he has two sons, both of whom are students, for whom no income was declared.
The affidavit shows that Azad’s movable assets are valued at Tk 75.18 lakh, while his wife’s movable assets amount to Tk 14.80 crore.
Azad has cash worth Tk49.58 lakh. By comparison, his wife holds cash amounting to Tk 1.43 crore.
Azad declared no bank balance in his name, but he owns prize bonds worth Tk 14.56 lakh. His wife, meanwhile, has Tk 27.86 deposited in banks and financial institutions, along with prize bonds worth Tk 7.60 lakh
Azad owns 40 bhori of gold received as gifts. His wife owns four fewer bhoris.
Both Azad and his wife listed electronic items and furniture under movable assets.
During the 2018 election, Azad’s movable assets stood at Tk4.26 crore. At that time, his wife had only Tk 2 lakh in cash and no declared income. Her current affidavit shows cash holdings exceeding Tk 14 crore.
Azad’s immovable assets include 46 decimals of land received through heba, which is used in Islamic for parents to bestow gifts to their children. The acquisition value of these assets was Tk 54.50 lakh with the current value declared as Tk 1 crore. He did not specify the value of the land received as heba.
His wife owns 48.53 decimals of land. The purchase value was Tk 2.02 crore while the current value has been shown as Tk 4 crore.
In the previous election affidavit, neither Azad nor any of his dependents declared ownership of any immovable property, including land.
The affidavit states that Azad and his dependents have no personal liabilities. However, as a 40 per cent partner of Messrs S & J Steel Mill, Azad has a loan of Tk27.03 crore with BASIC Bank Limited’s Gulshan branch. The total loan in the name of the company stands at Tk67.59 crore.
In 2018, Azad had bank loans amounting to Tk71.49 crore against the same company. His dependents also had loans worth Tk1.06 crore. The latest affidavit shows no loans in the names of his dependents.
According to income tax records, Azad paid Tk 58,410 in income tax in the current fiscal year. His wife paid Tk 35,744, despite declaring assets more than six times higher than his.
Neither Azad nor his wife owns a private car or a house.
In addition, the affidavit also shows that Azad faced 26 cases, having secured acquittals in 24 of them. One case under the Explosives Act remains pending, while another case filed in a money loan court has been stayed following a settlement between the parties.
In 2018, he had declared a total of 14 cases against him.
