Staff Reporter :
Transparency International Bangladesh (TIB), alongside four other anti-corruption agencies, has called for the immediate freezing of illicit assets held by Bangladeshi individuals in various countries, including the United Kingdom, United States, Switzerland, EU member states, Australia, Singapore, Malaysia, Hong Kong, and the United Arab Emirates.
The organisations have appealed for assistance in initiating the recovery process of funds illicitly smuggled from Bangladesh.
They addressed a joint letter to the UK Secretary of State for Foreign, Commonwealth and Development Affairs, Transparency International UK, the UK Anti-Corruption Coalition, the International Lawyers Project, Spotlight on Corruption, and TIB.
The letter underlines the need for active collaboration with Bangladesh’s interim government, led by Nobel laureate Professor Muhammad Yunus.
The letter stresses the importance of holding those with illicit assets accountable and facilitating the return of these assets to Bangladesh. Dr Iftekharuzzaman, Executive Director of TIB, stated, “Most of the countries where corrupt money and assets from Bangladesh have been laundered to are among our development, trade, and investment partners committed to fighting corruption nationally and internationally.
Now is the time for them to take such commitments to a new level of effectiveness by immediately freezing illegal assets owned by all Bangladeshi individuals and entities in their respective jurisdictions.”
Dr Iftekharuzzaman continued, “We particularly call upon the governments of the UK, USA, Switzerland, Canada, Australia, EU countries, as well as Singapore, Malaysia, Hong Kong, and the UAE to freeze such assets as a step towards repatriating them to Bangladesh and holding the perpetrators to account.”
Susan Hawley, Executive Director of Spotlight on Corruption, remarked, “The UK really needs to put its money where its mouth is when it comes to helping developing countries like Bangladesh track down stolen assets that the UK is harbouring, and to ensuring accountability of corrupt actors.
By bolstering anti-corruption efforts at this crucial moment for Bangladesh, the UK could play a decisive role in ensuring the country achieves the secure, democratic, and inclusive future that the UK has promised to help it achieve.”
Duncan Hames, Director of Policy at Transparency International UK, added, “We know that Bangladeshi politicians with unexplained wealth and members of the business elite accused of wrongdoing have significant asset portfolios here in the UK and abroad.
The British government should now work closely with allies around the world and civil society within Bangladesh to introduce a sanctions regime which freezes the assets of these corrupt figures and their enablers, ensuring they do not enjoy their ill-gotten gains.”
The letter, sent to the UK Secretary of State on 30 August, highlighted that extensive corruption by beneficiaries of the ousted authoritarian government is being uncovered in Bangladesh, which is currently in transition.
The letter argues that the assets smuggled by these beneficiaries rightfully belong to the citizens of Bangladesh.
Promptly locating and retrieving these concealed assets from various countries is deemed essential for fostering transparency, accountability, democracy, and inclusivity in the nation.
The letter sought cooperation from the UK Secretary of State to support this effort.