[2] Rashid contested the 2008 Bangladeshi general election from Chapai Nawabganj-3 as the Bangladesh Nationalist Party candidate but lost to Abdul Odud of the Awami League.

[9] Rashid in parliament asked the speaker to create a committee to investigate the large number of cases filed against Bangladesh Nationalist Party politicians.

[11] Assistant Director Monayem Hossain of the Anti-Corruption Commission filed a case against Rashid for tax fraud in March 2007 with Tejgaon police station and then pressed charge in July.

[17] In October 2019, Judge Shaikh Nazmul Alam of the Dhaka court sentenced Rashid to five years' imprisonment for dodging taxes while importing a luxurious car in 2007 and fined him five million taka.

[19][20] On 9 December 2021, Justice Md Selim of Bangladesh High court upheld the verdict in the tax evasion case against Rashid after hearing his appeal.