The Anti-Corruption Commission investigates a syndicate accused of misappropriating $2 billion in COVID vaccine procurement, implicating top political figures.
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| Bangladesh’s Anti-Corruption Commission is investigating a $2 billion COVID vaccine scam allegedly led by Salman F Rahman, exposing deep-rooted procurement fraud. Image: ChicHue |
Dhaka, Bangladesh — March 18, 2025:
Bangladesh’s Anti-Corruption Commission (ACC) has launched an inquiry into a syndicate led by Salman F Rahman, vice-chairman of Beximco Pharmaceuticals, over allegations of embezzling $2 billion from the COVID vaccine procurement process.
The ACC’s decision follows a written complaint by Moidul Islam, an official of the Bangladesh Medical Research Council, submitted after the fall of the Awami League government on August 5, 2024, in the wake of a student-led mass uprising.
During the pandemic in 2020-21, Bangladesh signed a deal in December 2020 to purchase 30 million doses of the Oxford-AstraZeneca vaccine from India’s Serum Institute, with Beximco Pharma acting as the exclusive intermediary. However, recent investigations have raised serious concerns over transparency in the procurement process.
The complaint alleges the government bypassed procurement guidelines, opting for a single-source deal despite the availability of alternative suppliers, eliminating competitive bidding and potential cost savings. The allegations also implicate top political figures, including a lawmaker and an adviser to then-Prime Minister Sheikh Hasina, in the agreement, suggesting legal violations.
Beximco Pharma’s involvement in the procurement is under scrutiny, with claims that its middleman role led to inflated vaccine prices. Had the government purchased directly from the Serum Institute, Bangladesh could have secured an additional 6.8 million doses for the same cost. Reports suggest Beximco profited $0.70 per dose after deducting import expenses.
The alleged syndicate, led by Salman F Rahman and former health minister Zahid Maleque, is accused of orchestrating the massive fraud. Other key figures allegedly involved include former health secretary Lokman Hossain, ex-chairman of the Bangladesh Medical Research Council Modasser Ali, and former principal secretary to the prime minister Ahmad Kaykous. The group is suspected of siphoning at least $2 billion through vaccine procurement and distribution.
Zahid Maleque previously stated that $3.7 billion was spent on vaccines, but Transparency International Bangladesh estimated the actual expenditure should not have exceeded $1.7 billion.
The syndicate is also accused of deliberately blocking approval of the domestically developed ‘Bongvax’ vaccine by Globe Biotech, allegedly to protect its financial interests. Further allegations suggest Salman F Rahman personally received a commission from Serum Institute, leveraging his political influence to benefit Beximco Pharma at the state’s expense.
Salman F Rahman, a senior Awami League leader and former private industry affairs adviser to Sheikh Hasina, was arrested following the government’s collapse. Since August 2024, he has remained in jail, facing multiple corruption charges as the investigation unfolds.