Dhaka: Finance Adviser Dr Salehuddin Ahmed has stated that the government is actively working to retrieve money that has been laundered abroad. Despite the complexity and time required to recover these funds, the government is committed to addressing the issue.
According to Bangladesh Sangbad Sangstha, Dr Salehuddin Ahmed emphasized the efforts of the concerned taskforce in tracing and identifying individuals and destinations involved in money laundering. The taskforce has already made significant progress in identifying the routes and tax havens where these funds have been channeled, and steps are being taken accordingly.
Dr Ahmed highlighted the government’s actions as evidence of their commitment, noting that personal accounts of many alleged launderers have been frozen. He remarked that these individuals have been made aware that they cannot escape the consequences of their actions. He also acknowledged the challenges involved in recovering laundered assets, given the sophistication of those responsible, but expressed hope that the funds would eventually be reclaimed.
Additionally, Bangladesh Bank Governor Dr Ahsan H Mansur mentioned that the interim government plans to create two sovereign funds from frozen and attached assets of individuals who misappropriated funds during the previous regime. The funds will be categorized based on assets plundered from banking and non-banking sources.
The Bangladesh Financial Intelligence Unit (BFIU), along with the central bank and other government bodies, is forming an inter-agency taskforce to facilitate the recovery of laundered money. Dr Mansur pointed out that Bangladesh lacks prior experience in this area, but an inter-ministerial initiative is underway to amend rules and strengthen the taskforce’s authority.
In response to questions about provisions for legalizing black money in the upcoming budget, Dr Ahmed clarified that no direct provision would be included. However, efforts are being made to align registration costs with actual property values to reduce the generation of black money. A committee led by the land secretary is working on reevaluating mouza valuation, primarily in urban areas.
Dr Ahmed also addressed the government’s achievements in stabilizing the banking sector, noting that support is being provided to banks facing liquidity issues. However, he acknowledged the difficulty in assisting banks severely affected by earlier fund misappropriations, stressing the need for sufficient funding rather than mere money printing.