Bangladesh Bank Governor Ahsan H. Mansur has stated that recovering the large sums of money laundered abroad through bank fraud and corruption may take four to five years.
He made the remarks during a press conference held on Monday (May 19) at the Foreign Service Academy.
According to the governor, many individuals siphoned off money from the banking sector and through corrupt practices. While some of their assets have already been confiscated within the country, the legal process to bring back the laundered funds from abroad will take considerable time.
He added that the government has decided to form a special management board to oversee the seized assets. Funds obtained through bank-related crimes will be liquidated and returned to the affected banks, while those gained through corruption will be allocated to public welfare initiatives.
“All actions will be taken in accordance with legal procedures,” the governor assured, noting that legal reforms may be introduced if necessary.
Also present at the press conference were AFM Shahinul Islam, head of the Bangladesh Financial Intelligence Unit (BFIU), and Shafiqul Alam, press secretary to the chief adviser.
