In a bid to trace and recover assets laundered by Bangladeshis abroad, the government is preparing to send a delegation to the United Arab Emirates (UAE) and several other countries. The initiative, aimed at tackling the ongoing issue of money laundering, was announced by Financial Advisor Dr. Salehuddin Ahmed during his address at the 9th Global Student Entrepreneurship Award (GSEA) program held at a hotel in Gulshan, Dhaka on Sunday.
Dr. Salehuddin emphasized that sending a delegation alone would not suffice to combat the issue. He underscored the necessity of having concrete evidence against those accused of laundering money. “The Anti-Corruption Commission (ACC) and the National Board of Revenue (NBR) are actively engaged in investigating money laundering cases. However, specific proof is crucial to move forward,” he explained.
While the government has taken several measures to recover laundered funds, Dr. Salehuddin cautioned that it may not be possible to retrieve all of the illicitly moved assets. When asked about a timeline for bringing the money back, he admitted that it is difficult to provide a definitive time frame at present.
Addressing concerns raised by the public over the scale of money laundering, Dr. Salehuddin referred to the recently published white paper on the economy, which estimated that $234 billion, equivalent to approximately Tk 28 lakh crore, had been laundered abroad between 2009 and 2023 under the Awami League government. This indicates an average of Tk 180 thousand crore laundered annually. However, Dr. Salehuddin pointed out that the source of these figures remains unclear, and the government’s primary focus now is to trace where the money was first transferred.
The delegation’s mission is to work alongside international authorities to identify the locations of laundered assets and ensure that the appropriate steps are taken to recover them. Although there are significant challenges ahead, the government is determined to make substantial progress in addressing this longstanding issue. The delegation’s visit is a key part of Bangladesh’s broader efforts to curb money laundering and safeguard national financial interests.
