Bangladesh Government Targets Recovery of Laundered Funds Linked to 11 Cases
The Bangladeshi government is prioritizing the recovery of laundered money linked to 11 individuals, targeting significant figures including Sheikh Hasina. International aid and a special law will expedite asset repatriation. With $75-$100 billion allegedly stolen, efforts are underway to establish an Asset Recovery Agency and collaborate with foreign firms to reclaim funds.
The government has initiated a comprehensive strategy aimed at recovering laundered funds linked to 11 significant individuals and industries, including prominent figures such as Sheikh Hasina and former land minister Saifuzzaman Chowdhury. The goal is to resolve at least half of these targeted cases within the current year utilizing legal processes. An Asset Recovery Agency is proposed to oversee this recovery initiative, with international firms being enlisted to assist in seizing assets located abroad.
The government’s concerted efforts aim to recover substantial amounts lost to corruption and fraud, with an emphasis on international cooperation and specialized legal measures. The establishment of an Asset Recovery Agency and the planned collaboration with international law firms underscore the seriousness of this initiative. Through legal frameworks and strategic partnerships, the government seeks to repatriate these assets effectively, although challenges remain in the processes involved.
Original Source: www.tbsnews.net
