Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury today announced in Jatiya Sangsad (JS) that the government is actively considering the creation of a specialized agency to recover assets siphoned off abroad. "The formation of a specialized agency in Bangladesh, following the example of many other countries in the world, is being considered for the efficient and effective implementation of laundered assets recovery activities," he stated.
According to Bangladesh Sangbad Sangstha, the finance minister made this statement while responding to a starred question from treasury bench member Md Jalal Uddin (Chandpur-2) during the question-and-answer session in the House, chaired by Deputy Speaker Barrister Kayser Kamal. Khosru highlighted that a significant amount of money was illicitly transferred to other countries during the previous fascist government, prompting the need for decisive action.
In his address, Khosru detailed several measures being undertaken to recover the stolen funds. A 12-member inter-agency task force, led by the Governor of Bangladesh Bank, has been established to repatriate money laundered from Bangladesh and prevent similar occurrences in the future. The task force has identified 11 priority cases under the Money Laundering Prevention Act, 2012, which involve high-profile individuals and business conglomerates.
To investigate these cases, 11 Joint Investigation Teams (JITs) have been formed under the leadership of the Anti-Corruption Commission (ACC), with representatives from the CID of Bangladesh Police, the Central Intelligence Cell of the National Board of Revenue, and the Customs Intelligence and Investigation Department. "After the formation of the JITs, in 11 priority cases, a total of some Taka 76,983.93 crore of movable and immovable assets have been attached and frozen by the courts in the country and abroad till July 2026," Khosru reported.
To further these efforts, Bangladesh has dispatched 23 Mutual Legal Assistance Requests (MLARs) to various countries to enforce orders issued by Bangladeshi courts. A total of 142 cases have been filed to recover laundered money, with charge sheets submitted in 16 cases and verdicts delivered in six, illustrating the government's commitment to addressing this issue.
Additionally, the government is moving forward with plans to sign Mutual Legal Assistance Treaties (MLATs) with 10 countries identified as common destinations for laundered money, including Canada, the United States, the United Kingdom, the United Arab Emirates, Singapore, Malaysia, Australia, Switzerland, Thailand, and Hong Kong-China. Negotiations for MLATs with Malaysia and Hong Kong-China are nearing completion.
To enhance coordination in asset recovery efforts, a Stolen Asset Recovery Division has been established under the Bangladesh Financial Intelligence Unit (BFIU). The government is also receiving guidance, technical support, and training from international agencies such as the International Anti-Corruption Coordination Centre (IACCC), the World Bank's Stolen Asset Recovery (StAR) Initiative, the United Nations Office on Drugs and Crime, the International Centre for Asset Recovery, and the US Department of Justice. Moreover, Bangladesh has joined the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) and the Asset Recovery Interagency Network-Asia Pacific (ARIN-AP).