The Bangladeshi government is targeting 11 priority cases for recovering laundered money. International firms will assist in asset recovery, with an estimated $75-100 billion stolen through corruption. A special law is to be formulated to expedite repatriation, with an Asset Recovery Agency planned for establishment. Key international cooperation includes meetings with UK authorities and a conference in London.
The government of Bangladesh has outlined a strategic initiative to recover laundered funds involving 11 individuals and industries, including notable figures such as Sheikh Hasina and former land minister Saifuzzaman Chowdhury. The goal is to resolve at least half of these cases within the current year through expedited legal processes. International firms are expected to assist in seizing overseas assets linked to these cases, complemented by sanctions from the UK, US, and UN.
The government’s focused approach to asset recovery from laundering activities emphasizes international cooperation and legal reforms. By prioritizing 11 specific cases and enlisting the help of global partners, Bangladesh aims to reclaim significant sums stolen through corruption. Establishing an Asset Recovery Agency and enhancing bilateral relationships will be crucial in overcoming existing challenges in asset repatriation.
Original Source: www.tbsnews.net
