Amjad Hossain Chowdhury dropped from the election race due to loan default

A new controversy has arisen regarding Bangladesh Shipbreakers and Recyclers Association (BSBRA) election-2026 presidential candidate Md. Amjad Hossain Chowdhury. An objection and appeal hearing has been held at the Election Board regarding his candidacy on the grounds of having a large amount of bank loan defaults.
According to Election Board sources, there are allegations of loan defaults of about Tk 1200 crore against Rising Steel Limited representative and voter No. 44 Md. Amjad Hossain Chowdhury. Due to this, his candidacy was canceled in the primary candidate list, according to the relevant sources.
According to the election schedule, the appeal hearing was held on May 6. However, Md. Amjad Hossain Chowdhury was not present in person during the hearing. He was represented by Oli Ullah Mohammad Sumon and a lawyer. No new information or documents were presented in the hearing; the discussion was held on the basis of previously submitted documents.
The Election Board document states that on May 10, 2026, the candidate’s financial liabilities and debt information was presented in the relevant report of Bangladesh Bank. There, the issue of his organization’s huge amount of unpaid loans in various banks and financial institutions came up. The relevant document further states that the Election Board is reviewing the matter in depth based on the information regarding financial irregularities and loan defaults.
In addition, according to the information submitted in the hearing, it was mentioned that there are allegations of loan rescheduling, unpaid liabilities and financial irregularities in multiple banks against the concerned organization. The Election Board’s observation stated that the financial acceptability of the candidate is an important issue according to the organization’s constitution and election rules.
Some BSBRA members said on condition of anonymity that financially transparent and acceptable people are needed to lead the country’s important shipbreaking industry sector. They also commented that if a person with allegations of loan defaults is elected as the president, the image of the organization may be questioned.
However, Md. Amjad Hossain Chowdhury’s direct statement on this matter was not available. No formal explanation was given by his representatives. Meanwhile, the Election Board said that a final decision will be made according to the rules after reviewing all the information and documents submitted during the appeal hearing.