Writ petition seeks transfer of BD forex reserves from US

Staff Reporter  :
A writ petition has been filed with the High Court seeking its directives to transfer foreign exchange reserves of Bangladesh from the US Federal Reserve Bank to any other ‘safer’ country.

Md Mahmudul Hasan, a Supreme Court lawyer, filed the petition on Tuesday as a public interest litigation.

Finance Secretary, Bangladesh Bank Governor, and Chairman of Bangladesh Public Service Commission were made respondents in the writ petition.

In the petition, the lawyer said, Bangladesh has become a target of the United States as part of multifaceted international conspiracies.

He mentioned that, the US imposed sanctions on RAB despite its immense contribution to upholding the rule of law and efforts to combat human trafficking and drug.

The writ petition also mentioned the announcement of the US new visa policy targeting political leaders, and civil and judicial officials of Bangladesh.

In this context, the petitioner said, Bangladesh Bank has deposited most of its foreign exchange reserves with the Federal Reserve Bank of the United States. The lawyer said in the writ petition that Bangladesh’s economy will collapse if foreign exchange reserves are seized by the US on any grounds in the near future.