Bangladesh Bank has authorized the hiring of foreign law firms to recover money laundered overseas.
The authorities approved the policy on Sunday. To select the best legal organization, Bangladesh will turn to the US government and the World Bank for help.
Executive Director Husne Ara Sikha, a spokesman for Bangladesh Bank, stated, “We have been given permission to hire international law firms to retrieve the money that was embezzled from the nation.”
A senior central bank official asserted that the United Kingdom, Canada, Singapore, the United Arab Emirates, and a few other countries were the recipients of large amounts of money laundering.
In order to obtain information about various people and businesses, including the contentious businessman S Alam, the Bangladesh Financial Intelligence Unit (BFIU) has already gotten in touch with the governments of those nations.
We will now assign international law firms to provide comprehensive support. Additionally, we will establish a task force to recover the laundered money.
Prior to the Awami League government’s downfall, money laundering was already a popular topic. With the overthrow of the government on August 5, discussions about the matter became more heated.
As soon as he took office, Bangladesh Bank Governor Ahsan H. Mansur assured the media that the government would recover the funds embezzled overseas. “If necessary,” he said, “the government will get in touch with international organizations.”
