Govt to appoint foreign lawyers to recover siphoned money, BB governor

Bangladesh Bank Governor Dr. Ahsan H. Mansur today announced that the interim government will hire foreign lawyers to
recover funds siphoned abroad, offering commissions as incentives for
retrieving large amounts.

“Money had been siphoned abroad, and we are now working with foreign entities
to retrieve it. We are hiring international lawyers to recover the (stolen)
funds, he said.

The governor added that compliance with global laws is crucial in these
efforts.

The governor made these remarks during the inaugural session of the year-long
“Branding Bangladesh” World Conference Series-2025, organised by the Center
for Non-Resident Bangladeshis, the event also included the launch of the Bank
Remittance Award ceremony at a city hotel.

Dr. Mansur revealed a major case of money laundering involving US$20 billion
siphoned abroad by a Chattogram-based entity, describing it as one of the
largest instances in the country’s history.

“We are collaborating with international authorities, including the FBI, to
recover these funds. Foreign organisations have expressed their willingness
to assist,” he said, stressing the importance of global cooperation.

The governor highlighted recent improvements in the banking sector, noting
that remittance inflows have grown by an average of 26 percent over the past
six months, amounting to 3 billion US dollars.

Besides, he said, exports have reached US$2.5 billion during the same period.
He emphasized ongoing efforts to create a favorable environment for economic
growth.

Dr. Mansur pointed out that money laundering has been significantly curbed
due to better governance.

“Previously, funds were laundered even from Dubai. Now, with improved
governance, we have managed to prevent such incidents. Incentives are being
provided to expatriates for sending remittances,” he said.

However, he cautioned that bureaucratic hurdles must be minimized to ensure
steady growth in remittances.

He also underscored the need for direct remittance channels, noting that
funds from Saudi Arabia often pass through Dubai before reaching Bangladesh.

“If people have confidence in banks, the sector will recover,” Dr. Mansur
added.

He commended the 2.5 percent incentive on remittances sent through banking
channels, which has bolstered inflows despite political uncertainties.

The BB governor reiterated the importance of transparency in financial
systems and combating money laundering to ensure sustainable economic growth.

He further stressed the need to enhance workforce skills to maximize
remittance inflows, expressing optimism that proper governance and
international collaboration could help achieve these goals.

Foreign Affairs Adviser Md. Touhid Hossain attended the event as the chief
guest while the Chairperson of the Center for NRBs MS Shekil Chowdhury
presided over the session. (BSS)