The Bangladesh Financial Intelligence Unit (BFIU) has found evidence that former Bangladesh Bank deputy governor S M Moniruzzaman received Tk 20 million in bribes from the controversial business conglomerate S Alam Group. The BFIU report states that the payment was made in August 2021 through a pay order from an S Alam-owned company account, shortly after Moniruzzaman opened a new savings account. The funds were later used to open three fixed deposits. The report found no documentation of any legitimate service or contract behind the payment and described the transaction as highly suspicious.

The BFIU also discovered that Moniruzzaman worked for 27 months after retirement at an S Alam-owned company, earning Tk 650,000 monthly. Investigators suspect he may have provided undue advantages to S Alam-linked banks and institutions during his tenure as deputy governor between 2016 and 2020. The findings have been forwarded to the Anti-Corruption Commission (ACC) for further action.

Moniruzzaman denied all allegations, claiming the Tk 20 million was payment for a property he sold to S Alam Group.