Bangladesh Bank governor Dr. Ahsan H. Mansur today (January 11) said that the government plans to hire international lawyers to recover laundered money.
He also said: "Commission will also be offered as an incentive for recovering large sums of money."
Dr. Mansur disclosed the matter while speaking as the chief guest at the "World Conference Series-2025: Branding Bangladesh," held at a hotel in Dhaka.
The event is part of a year-long initiative engaging expatriates across the globe and was organized by the Center for Non-Resident Bangladeshis (NRB), which also hosted the inauguration and Bank Remittance Award program.
The governor underscored the significant progress made in the banking sector, saying that remittances have averaged 26% growth over the past six months, totaling $3 billion during this period.
Additionally, $2.5 billion worth of goods have been exported. "We are working to create a favorable environment for further growth," he stated.
Dr. Mansur highlighted improvements in governance that have curtailed money laundering activities.
"Previously, money laundering from Dubai was a common issue. Now, due to good governance, such practices have been curbed. Expatriates are being encouraged with incentives to send remittances, but we must ensure that bureaucratic barriers do not deter them," he cautioned.
He stressed the importance of direct remittance flows to Bangladesh, citing instances of money arriving via Dubai before reaching the country.
"We must bring money directly to Bangladesh to maximize its benefits," he added.
The governor called for restoring public trust in the banking system, emphasizing its importance for the sector’s recovery.
"The banks’ funds have gone abroad, but with international cooperation and the appointment of foreign lawyers, we are working to recover the money. However, this requires adherence to foreign legal frameworks," he added.
MS Shekil Chowdhury, Chairperson of the Center for NRB presided over the event with foreign affairs adviser M. Touhid Hossain as the special guest.
BDST: 1412 HRS, JAN 11, 2025
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