Staff Reporter :
Bangladesh Bank (BB) is set to freeze several foreign assets suspected to have been acquired through laundered money within the next six months, as part of a broader initiative to recover illicit funds and strengthen financial accountability, Governor Ahsan H Mansur announced on Friday.
Speaking at a press briefing held at the central bank’s Chattogram branch, Governor Mansur stated:
“The concept of repatriating laundered money is relatively new to us. We are actively learning and consulting with international law firms and government agencies in jurisdictions where we suspect significant funds have been transferred.
Additionally, we are collaborating with asset-tracing firms. Once we have conclusive evidence, we will initiate action to freeze those assets.”
He acknowledged that the legal processes involved in recovering these assets would be complex and protracted, but added: “It is not an easy task, but we are doing our utmost.
We are also exploring alternative methods, such as engaging in dialogue and counselling with relevant parties to avoid prolonged legal proceedings.”
The governor also discussed macroeconomic developments, highlighting Bangladesh Bank’s achievements in inflation management.
“Since assuming office, we have reduced food inflation from 14 per cent to 8 per cent, and non-food inflation from 12 per cent to 9 per cent. This is a notable achievement. Our target is to bring food inflation down further to 5-6 per cent by next year,” he said.
Despite external pressures, the central bank has succeeded in maintaining foreign exchange reserve stability, largely driven by a 26-27 per cent increase in remittance inflows and over 11 per cent growth in exports during the past seven months.
He further noted: “We ensured uninterrupted gas supply through timely LNG imports, maintained fertiliser availability by boosting imports, and controlled food inflation by reducing import duties and VAT.”
On the state of the banking sector, Governor Mansur acknowledged historic challenges related to money laundering but underscored recent improvements: “Although a substantial volume of funds was previously laundered, the sector has shown recovery thanks to enhanced regulatory policies and tighter monitoring. UCB and Islami Bank Bangladesh, for instance, have regained depositor confidence and no longer require liquidity support from the central bank.”
He confirmed that banks still facing difficulties are under close regulatory supervision and may receive policy support or face mergers if necessary.
“Depositor funds remain fully protected.
There is no need for concern or panic. Bangladesh Bank stands fully behind depositors, and we assure that no one will lose their money,” he said.
Governor Mansur placed strong emphasis on prevention in anti-money laundering efforts, revealing that senior banking officials will receive training to detect and mitigate suspicious transactions:
“We believe prevention is better than cure. Strengthening internal capacity is vital.”
In response to media questions, he revealed that approximately Tk 3,00,000 crore has been illicitly transferred abroad, with around 50 per cent allegedly linked to business groups based in Chattogram.
He specifically named Beximco Group, alleging that the company laundered around Tk 50,000 crore.
On internal corruption, the governor affirmed that action would be taken only upon conclusive evidence.
“We are open to investigations by the Anti-Corruption Commission or any authorised agency, but we will not act on speculation. If any BB official is found culpable, appropriate measures will be taken.
“He also confirmed that several bank directors involved in irregularities have already been removed, yielding positive outcomes for institutional governance.
In a forward-looking initiative, Governor Mansur announced plans to establish an international-standard banking training institute in Chattogram.
The facility will include residential accommodation for both trainees and trainers, aiming to enhance professional development and regulatory competence in the financial sector.
The press event was attended by BB Chattogram Branch Executive Director Md Jamal Uddin, BFIU Director Md Anisur Rahman, and Chattogram Office Directors Md Salah Uddin, Md Arifuzzaman, Md Ashiqur Rahman, and Swaroop Kumar Chowdhury. The session was moderated by Deputy Director Md Zobaer Hossain.
