Government Freezes Assets Worth Over 66,000 Crore Taka in Effort to Recover Illegally Transferred Money

The government of Bangladesh has made significant strides in its efforts to recover funds that were illegally transferred abroad, freezing assets worth a total of 66,146 crore taka. Of this amount, 55,638 crore taka worth of assets have been frozen within the country, while 10,508 crore taka worth of assets have been frozen internationally.

This announcement was made following a meeting of the National Coordination Committee chaired by Economic Advisor Dr. Salehuddin Ahmed, held on Wednesday, December 17. The meeting reviewed the progress of 11 priority cases identified for investigation and recovery, with 104 cases filed and chargesheets submitted in 14 of these cases. In four cases, the courts have already issued rulings.

Authorities have sent 21 Mutual Legal Assistance Requests (MLARs) to relevant countries to aid in the recovery of these assets. The government is taking rapid steps to ensure swift legal proceedings, including submitting charges and expediting the resolution of cases. The meeting emphasized the importance of ensuring the prompt settlement of these priority cases.

In terms of global efforts, Bangladesh is in the process of preparing for the 2027-28 phase of mutual evaluation under the Asia Pacific Group on Money Laundering (APG), which assesses compliance with international standards on anti-money laundering and counter-financing of terrorism.

While progress has been made, Bangladesh’s central bank Governor, Ahsan H. Mansur, noted that it typically takes at least four to five years to bring money back from abroad. However, he added that there could be a quicker resolution for certain cases, including a claim involving former land minister Saifuzzaman Chowdhury Jabed. The UK’s National Crime Agency (NCA) had previously announced the freezing of assets linked to Jabed, based on information provided by Bangladesh's Anti-Corruption Commission.

The meeting also included representatives from various government ministries and agencies, including the Anti-Corruption Commission, the Ministry of Finance, the Ministry of Foreign Affairs, and the Central Investigation Department (CID). These efforts highlight Bangladesh's commitment to recovering illicitly transferred funds and upholding financial integrity.