Teams to be sent to retrieve offshore assets

Staff Reporter :

The government plans to dispatch teams to Dubai and other countries to trace assets held abroad by Bangladeshi taxpayers and facilitate the repatriation of these funds, stated Finance Adviser Salehuddin Ahmed.

He made these comments during the grand finale of the 9th Global Student Entrepreneur Awards (GSEA) Bangladesh, organised by Entrepreneurs’ Organisation at the Hotel Renaissance in Gulshan, Dhaka.

Salehuddin emphasised, “Deploying teams alone will not be enough; we also require substantial evidence against those involved in money laundering.”

He further highlighted that the Anti-Corruption Commission (ACC) and the National Board of Revenue (NBR) are actively investigating cases of money laundering. While efforts are underway to identify and recover laundered funds, he acknowledged the difficulty of retrieving the entire amount.

“Our primary objective is to send a strong message that such practices will not be tolerated in the future,” he said.

When questioned about the timeline for recovering the funds, Salehuddin admitted, “It is difficult to provide a specific timeframe.”

Referring to the figures mentioned in the ‘white paper’, he explained, “The information must have been sourced from somewhere. It is undeniable that money has been transferred out of the country.

Our priority now is to identify those involved and trace where the funds have been transferred.”

Addressing a recent media report forecasting a larger national budget, Salehuddin remarked, “We are planning a significant budget. Although the size of the Annual Development Programme (ADP) might be slightly reduced, the overall budget will remain substantial.”

The event was sponsored by United Commercial Bank (UCB) PLC. This year’s GSEA Bangladesh chapter winner was Soumik Hasan Shranto, a student of BRAC University, recognised for his business venture, Dubotech. He received a prize of Tk 5 lakh and will represent Bangladesh in the GSEA Global Quarter Final in Nagpur.