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Bangladesh Bank has directed commercial banks to sign agreements with international asset recovery firms to trace and bring back funds allegedly laundered abroad by former Prime Minister Sheikh Hasina, her family, and 10 prominent business conglomerates.
The directive was issued during a high-level meeting held on Monday (October 6), chaired by Bangladesh Bank Governor Ahsan H. Mansur. Senior officials from the Bangladesh Financial Intelligence Unit (BFIU), including Executive Director Mofizur Rahman Khan Chowdhury, BB Governor’s Adviser Farhanul Ghani Chowdhury, and managing directors of several banks were present.
According to the central bank, the partnering foreign entities must be capable of providing both administrative and legal support to help identify, trace, and repatriate laundered funds. These firms will receive a commission upon successful recovery. Banks may also propose reputable international or local organizations for this purpose.
During the meeting, BFIU presented detailed information on alleged money laundering involving Sheikh Hasina, her family, and 10 business groups.
The business groups include S. Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Gemcon Group, Nassa Group, Bashundhara Group, Sikder Group, and Aramit Group.
In addition to these, other individuals and entities involved in illicit fund transfers were also named. Authorities outlined the destinations of the laundered money and shared international case studies, urging Bangladeshi banks to adopt similar recovery strategies.
Speaking to reporters after the meeting, Islamic Bank Managing Director Omar Faruq Khan said several banks will take the lead in coordinating efforts with foreign legal and asset recovery firms. “Formal agreements will follow, and the recovery process will then begin,” he added.
Bangladesh Bank spokesperson Arif Hossain Khan confirmed that banks have been asked to engage with 6–7 potential international firms already identified, though they may also propose alternatives.
Sources within the BFIU said 11 government-formed investigation teams are actively probing irregularities involving the Sheikh family and the 10 groups, including loan fraud, tax evasion, and large-scale money laundering. Investigators have already uncovered foreign assets allegedly purchased with laundered funds.
So far, assets worth Tk 57,260 crore in both movable and immovable properties and shares have been frozen by courts and financial intelligence agencies.
HKJ
