THOUGH it’s upsetting, the reality is that a staggering sum of Tk 17.6 trillion siphoned from Bangladesh over the last 15 years highlights the magnitude of the corruption crisis the nation has ever faced.
According to Global Financial Integrity (GFI), the illicit outflow of $149.20 billion during Sheikh Hasina’s regime represents a massive loss to the country’s economy, equating to roughly Tk 1.17 trillion being illegally transferred abroad each year.
Our newspaper reported on Friday that repatriating these stolen assets will be a difficult task, but it is an opportunity the current interim government cannot afford to ignore.
The responsibility now rests on the shoulders of the interim government led by Nobel laureate Prof. Dr. Muhammad Yunus.
The establishment of a “Stolen Asset Recovery Task Force” by Bangladesh Bank is an encouraging first step, which we welcome.
However, the task force remains inactive, as no members have been appointed yet.
The government should follow experts’ recommendations, including a three-step approach: tracking the funds, securing mutual legal assistance agreements with concerned countries, and initiating legal proceedings to reclaim the assets.
Bangladesh can learn from the successful experiences of countries like Malaysia and Nigeria, which have repatriated laundered money through similar channels.
Fortunately, almost all international organizations have expressed their willingness to support Bangladesh in this endeavor.
We must act quickly to secure their assistance and ensure that corrupt individuals cannot exploit legal loopholes or the absence of bilateral agreements.
Now, more than ever, Bangladesh has the opportunity to make meaningful progress in tackling the long-standing problem of corruption. We know the road ahead is fraught with challenges.
Legal complexities, the reluctance of foreign governments to return assets without conclusive proof of illegal activity, and the sheer scale of the money involved make this a monumental challenge.
Yet, we believe that with strong political will, determined action, and international cooperation, it is achievable.
People are waiting for concrete steps and decisive action.
Failure to act now would be a massive setback in the fight against corruption and would erode public trust in the government’s commitment to change.
The stakes are high, but the reward — economic recovery and moral victory — is even greater.
