Canada to assist recovering funds from ‘Begum Para’
Staff Reporter :
Chief Adviser Professor Muhammad Yunus has called on Canada to assist in recovering funds illicitly transferred from Bangladesh to North America.
Speaking during a meeting with Canadian High Commissioner Ajit Singh at the State Guest House Jamuna, Professor Yunus highlighted the extent of financial misappropriation under Sheikh Hasina’s administration.
He alleged that oligarchs, political affiliates, and close associates of the former regime had siphoned “hundreds of billions of dollars” out of Bangladesh, with a portion being invested in assets located in Toronto’s controversial “Begum Para” neighbourhood.
Urging prompt action, he stressed the importance of identifying, freezing, and reclaiming these misappropriated funds. “They have plundered our nation’s wealth to acquire luxurious properties abroad.
This money rightfully belongs to our people, and we seek your collaboration in retrieving it,” Yunus stated during his discussion with Singh.
In response, the Canadian envoy commended the interim government’s initiative to repatriate stolen funds.
He assured that Canada has the necessary legal mechanisms in place to seize illicit assets, provided sufficient evidence is submitted. “Canada stands ready to assist with any legitimate asset recovery efforts.
If your government provides the required details, we will facilitate the process within our legal framework,” Singh affirmed.
Beyond financial cooperation, Singh expressed Canada’s willingness to support Bangladesh’s transition towards democratic governance.
He acknowledged the ongoing reforms and pledged Canada’s engagement in facilitating this transformation.
“We recognise the progress being made and are keen to explore ways we can contribute further,” the Canadian diplomat remarked.
Singh also conveyed Canada’s interest in strengthening trade relations with Bangladesh.
He revealed that a Canadian minister is scheduled to visit Dhaka soon to discuss economic partnerships and investment opportunities.
During the meeting, Yunus referred to his recent discussions with Canadian Prime Minister Justin Trudeau at the United Nations General Assembly in New York.
Stressing the need for expanded commercial ties, he invited Canadian enterprises to consider relocating their operations to Bangladesh.
“Our nation is open for business. We aspire to strengthen trade and encourage Canadian firms to establish manufacturing hubs in Bangladesh,” he stated.
Professor Yunus also highlighted the growing Bangladeshi diaspora in Canada and urged Ottawa to establish a visa office in Dhaka to facilitate mobility between the two nations.