Staff Reporter :
Chief Adviser Professor Dr Muhammad Yunus has outlined plans to tackle the country’s financial corruption and position Bangladesh as a pivotal link between ASEAN and SAARC. His remarks were made during a series of high-profile meetings with international envoys and statements from the Chief Adviser’s Office (CAO).
In a statement issued on Wednesday, Dr Yunus revealed ongoing efforts to assess the extent of money laundering and financial swindling involving influential figures, including corrupt businessmen. “To determine the amount of money swindled by corrupt individuals, audit works will begin soon. It is estimated that the amount could exceed $100 billion,” the CAO statement said.
The interim government has begun reforms in several banks and financial institutions implicated in corruption and money laundering. The governing boards of Islami Bank, Social Islami Bank, National Bank, United Commercial Bank, Global Islami Bank, and Union Bank have been reconstituted.
The statement highlighted that further reforms in other banks and financial institutions are planned. New management teams are working to seize assets of local swindlers and recover laundered funds with support from Bangladesh Bank’s Financial Intelligence Unit (BFIU), the Criminal Investigation Department (CID), and the Anti-Corruption Commission (ACC).
Dr Yunus also announced that the government is seeking international assistance to recover laundered money and will soon establish a banking commission to conduct thorough investigations. The commission will formulate a roadmap to reform the banking sector within six months. “The goal is to build a strong banking sector capable of meeting international standards. This task will require international technical assistance and funding,” the statement noted.
In related diplomatic engagements, Dr Yunus met with Malaysian High Commissioner to Bangladesh Haznah Md Hashim, where he expressed Bangladesh’s potential role as a bridge between ASEAN and SAARC. Dr Yunus emphasised the country’s positive relations with Malaysia and recalled his connections with Malaysian leaders, including Prime Minister Anwar Ibrahim and former Prime Minister Mahathir Mohamad. Hashim indicated that Malaysia, which is set to chair ASEAN next, would relay Dr Yunus’s message to the Malaysian authorities regarding ASEAN membership.
During a separate meeting with Canadian High Commissioner Lilly Nicholls, Dr Yunus requested Canadian investment to aid in rebuilding Bangladesh following the economic turmoil caused by the previous regime. Nicholls’s visit was part of ongoing diplomatic efforts to strengthen bilateral relations.
French Ambassador to Bangladesh Marie Masdupuy also met with Dr Yunus at the State Guest House Jamuna. She assured support from France for the interim government’s reconstruction efforts and extended an invitation from French President Emmanuel Macron for Dr Yunus to visit France. Masdupuy expressed condolences for the loss of lives during the recent protests and revolution.