Bangladesh in talks with 10 nations to recover $234b laundered during AL era, PM tells parliament
Three countries have already agreed in principle to sign bilateral agreements, while the process of inking the deals with seven others is underway, says the prime minister.
The government has initiated steps to sign bilateral agreements with 10 countries to bring back a significant amount of money that was laundered from Bangladesh over the past 15 years, Prime Minister Tarique Rahman said today (1 April).
Three countries have already agreed in principle to sign the agreements, while the process of inking the deals with the remaining seven is underway, he told the parliament during a question-and-answer session.
The countries and regions initially identified as destinations where the money has been laundered include the United States, the United Kingdom, Canada, Switzerland, Australia, Thailand, the United Arab Emirates, Singapore, Malaysia, and Hong Kong (China), said the prime minister.
Keep updated, follow The Business Standard's Google news channel
He shared the information while responding to a question from Cumilla-9 lawmaker Mohammad Abul Kalam during the sixth sitting of the 13th National Parliament's first session.
"During the previous fascist government's tenure, approximately $234 billion was laundered out of the country, which is an average of Tk1.8 lakh crore annually. Bringing back this huge amount of money is one of the main goals of the current government," he said.
The prime minister said Bangladesh has already received positive responses from Malaysia, Hong Kong and the UAE regarding signing such agreements.
He noted that efforts are underway to strengthen information exchange, asset identification and mutual legal assistance with these countries.
The government is pursuing the signing of Mutual Legal Assistance Treaties (MLATs) and exchanging Mutual Legal Assistance Requests (MLARs) to facilitate the recovery of illicitly transferred funds.
The Ministry of Foreign Affairs is leading the initiative, working in coordination with relevant ministries and agencies, Tarique added.
On enforcement measures, the prime minister said a taskforce led by the governor of Bangladesh Bank has identified 11 major cases as priorities.
To expedite investigations and asset recovery, 11 joint investigation teams (JITs) have been formed, comprising officials from the Anti-Corruption Commission (ACC), Criminal Investigation Department (CID), National Board of Revenue (NBR), and Customs Intelligence.
According to information presented in parliament, a total of 141 cases have so far been filed over money laundering, with verdicts delivered in six cases and charge sheets submitted in 25.
"We believe in the rule of law. Unlike in the past, we will not misuse power; rather, every penny of laundered public money will be recovered through due legal process and international cooperation," the prime minister said.
