Govt focuses on recovering illicit funds

Bangladesh Prime Minister Tarique Rahman has emphasised that recovering assets illegally transferred abroad is one of the government’s top priorities as part of its broader strategy to combat corruption, money laundering, and financial crimes.

During Wednesday’s parliamentary session, he informed MPs that legal proceedings are ongoing to reclaim assets linked to 11 high-profile cases, including those associated with former Prime Minister Sheikh Hasina and her family.

According to a white paper compiled by an interim government committee, approximately $234 billion was transferred out of the country illegally between 2009 and 2023, averaging $16 billion per year.

Prime Minister Tarique Rahman said the government is intensifying efforts to coordinate with foreign authorities, identify assets, and strengthen mutual legal assistance agreements with priority countries, including the United States, United Kingdom, Canada, Switzerland, Australia, Thailand, UAE, Singapore, Malaysia, and Hong Kong.

Agreements with Malaysia, Hong Kong, and UAE have already been finalized, while negotiations with other countries are ongoing.

He added that courts have so far frozen or confiscated assets worth over BDT 70,446.22 crore, with BDT 57,168.09 crore in domestic assets and BDT 13,278.13 crore abroad.

In total, 141 cases have been filed to recover illicitly transferred wealth, of which 15 have reached the charge-sheet stage and six have been adjudicated.