[🇧🇩] Everything about Hasina's misrule/Laundered Money etc.

[Saif]

Seize assets of S Alam, wife in 3 countries: court

The Dhaka Metropolitan Senior Special Judge Court on Tuesday ordered the Anti-Corruption Commission to seize foreign assets of S Alam Group chairman Mohammed Saiful Alam and his wife Farzana Parveen in three countries, including the...

www.newagebd.net

Seize assets of S Alam, wife in 3 countries: court
Ex-Islami Bank MD Monirul Moula among 10 officials face travel ban
Solamain Salman 24 June, 2025, 21:37

Mohammad Saiful Alam alias S Alam | File photo

The Dhaka Metropolitan Senior Special Judge Court on Tuesday ordered the Anti-Corruption Commission to seize foreign assets of S Alam Group chairman Mohammed Saiful Alam and his wife Farzana Parveen in three countries, including the British Virgin Islands, over allegations of money laundering.

Saiful Alam, who was a close associate of deposed prime minister Sheikh Hasina, and his family members are facing cases and probes into alleged loan irregularities and money laundering involving huge sums.

The court also imposed a travel ban on 10 current and former officials of Islami Bank Bangladesh over allegations of facilitating crooked loans to the S Alam Group, resulting in embezzlement of a huge amount of money.

Judge Md Jakir Hossain of the Dhaka Metropolitan Senior Special Judge Court ordered the seizure of the foreign assets of Saiful Alam and his wife following a petition submitted by ACC deputy director Tahasin Monabil Haq.

According to the ACC, the couple owns a two-storey house in Cyprus, shares in 19 companies in the British Virgin Islands, and stakes in six companies registered in Jersey, a self-governing British Crown dependency.

One of the companies in the British Virgin Islands, Hazel International PTE Limited, has an estimated value of $5,95,000.

The ACC alleged that these assets were acquired with funds generated through ‘illegal’ means, and it said the couple might attempt to transfer the properties.

The court ordered the relevant authorities to send copies of the orders to the respective jurisdictions in the three countries for taking the next course of action to seize the assets abroad.

ACC public prosecutor Mir Ahmed Ali Salam told New Age that after a court ordered seizure of the foreign assets of any graft suspect, the ACC sent the court’s order and details of the asset through the Bangladesh embassies to the authorities concerned of the countries requesting them to seize the assets.New age fashion

Of the assets ordered to be seized, Saiful Alam owns 7,000 shares (70 per cent of total share) worth $2,45,000 while his wife owns 3,000 share (30 per cent of total share) worth $1,05,000 in Hazel International PTE LTD in the British Virgin Islands.

The company was incorporated on March 19, 2019, for the purpose real estate agents and brokers, hotels and resorts.

The couple own shares in Peacock Property Holdings Limited incorporated on May 22, 2019, in the British Virgin Islands and the company is engaged in investment holdings and the aim of the company is to hold shares in various companies that are engaged in the holdings of real estate and bank accounts in Singapore.

Apart from this, there are investments of Saiful Alam in 18 companies in the British Virgin Islands. The companies are Adair International Pte Ltd which was incorporated in 2021, Canali Logistics Pte Ltd in 2011, Golden Trail International Pte Ltd in 2018, Greenwich International Pte Ltd in 2024, Hamilton International Pte Ltd in 2018, Honeywel International Pte Ltd in 2016, Linear International Pte Ltd in 2024, Livona Pte Ltd in 2018, LU Shui International Pte Ltd in 2020, Marico International Pte Ltd in 2021, Pittsdale International Pte Ltd in 2017, Qing Shu International Pte Ltd in 2020, Springfield International Pte Ltd in 2018, Trivoli Trading Pte Ltd in 2018, Wavepac International Pte Ltd in 2021 and Zenita International Pte Ltd in 2021.

Saiful Alam and Farzana Parveen have also joint investments in six Jersey trusts which are administered by a Jersey trust company in the British Virgin Islands. The six are Maple Trust, Capri Trust, Surrey Trust, Shenton Trust, Marina Trust and Mission Trust.

The investment amount is $210 million in Maple Trust but the amount of investment in other five trusts was not mentioned by the ACC.

The ACC petition said that the commission had already formed a joint probe team and was probing the allegations of money laundering against Saiful Alam and people related to him.

‘They embezzled a huge amount of money after taking loans from different banks illegally and amassed huge wealth in home and abroad. They are trying to hand over the properties,’ it said.

This latest development follows a series of court orders against Saiful Alam and his family members in recent months.

On June 17, the Dhaka Metropolitan Senior Special Judge Court directed the ACC to seize 200.26 acres of immovable property worth Tk 180.61 crore in Bangladesh.

On April 27, the court ordered the anti-graft agency to seize 563.57 acres of land worth Tk 1,001.76 crore owned by the S Alam Group and its related entities.

On April 23, the court also ordered the ACC to seize 159.15 acres of land worth Tk 407 crore owned by them.

On April 9, the court ordered the ACC to seize 7,919.52 kathas of land worth Tk 325.19 crore of the business group.

On January 30, the court ordered the ACC to seize 58 acres of land worth Tk 368 crore belonging to Saiful Alam and his family members.

On February 12, the court ordered the ACC to freeze 437.85 crore shares belonging to S Alam and his family in 42 companies. The value of the shares is about Tk 5,100 crore.

On January 16, the court ordered the freezing of more than 32.1 crore shares worth Tk 350 crore owned by S Alam and his family members in 24 companies.

The court on January 14 ordered the ACC to seize immovable properties worth Tk 200 crore and the freezing of 87 bank accounts of S Alam, his wife and 16 of his family members.

After the fall of authoritarian Awami League regime in a student-led mass uprising on August 5, 2024, the ACC started inquiries against a number of business group, including the S Alam Group, over various corruption allegations, including money laundering.

The ACC recently started an inquiry against Saiful Alam over allegations of amassing illegal wealth and laundering $1 billion to Singapore and several other countries.

The court on Tuesday imposed the travel ban on 10 current and former officials of Islami Bank Bangladesh following a petition filed by the ACC.

The officials facing the travel ban are former Islami Bank Bangladesh managing director Mohammad Monirul Moula, Miftah Uddin, Mohammad Ihsanul Islam, Mohammad Sirajul Kabir, Muhammad Kaiser Ali, Taher Ahmed Chowdhury, Mohammad Mostaq Ahmed, Hossain Mohammad Faisal, Ahmed Zubayatul Haque and SM Tanvir Hasan.

The ACC in its plea stated that a probe team had been formed to probe allegations of financial irregularities involving Islami Bank Bangladesh and entities associated with the S Alam Group.

The commission sought the travel ban, stating that the accused might attempt to flee the country, which would obstruct the probe.

The same court on Monday sent Monirul Moula to jail in connection with a case filed against him and 57 others on charges of embezzling Tk 1,092 crore through loan forgery.

Police arrested Monirul Moula from his residence in the capital Dhaka Sunday night.​

 

[Saif]

Attacks on BNP programme in 2023: Hasina, 155 others sued in Khulna

A case was filed on Thursday against 156 people, including former prime minister Sheikh Hasina, for their alleged involvement in an attack on a BNP programme in 2023. General Secretary of Khulna Metropolitan unit BNP, Shafiqul Alam Tuhin, submitted a petition with the Khulna Metropolitan Session J

thefinancialexpress.com.bd

Attacks on BNP programme in 2023: Hasina, 155 others sued in Khulna

UNB
Published :
Jun 26, 2025 18:00
Updated :
Jun 26, 2025 18:00

A case was filed on Thursday against 156 people, including former prime minister Sheikh Hasina, for their alleged involvement in an attack on a BNP programme in 2023.

General Secretary of Khulna Metropolitan unit BNP, Shafiqul Alam Tuhin, submitted a petition with the Khulna Metropolitan Session Judge court on Thursday morning seeking permission to file a case against them.

Khulna Metropolitan Session Judge Sharif Haidar accepted the petition after hearing in the afternoon.

According to the case statement, BNP organised a programme at Khulna Press Club on May 19, 2023.

Some 50-60 people were injured when police charged with batons and fired bullets.

Police also arrested nine people in this connection.

A number of police officials, former MPs, former ministers and Awami League leaders were made accused in the case.​

 

[Saif]

Court issues gazette summoning Hasina, 22 others in ‘plot graft’ cases

A Dhaka court has summoned deposed prime minister Sheikh Hasina, her family members, and several former officials of her administration to appear in six cases over alleged corruption involving plot allocations. Anti-Corruption Commission (ACC) Prosecutor Mir Ahmed Ali Salam said on Sunday evening

thefinancialexpress.com.bd

Court issues gazette summoning Hasina, 22 others in ‘plot graft’ cases

bdnews24.com
Published :
Jul 06, 2025 21:32
Updated :
Jul 06, 2025 21:38

A Dhaka court has summoned deposed prime minister Sheikh Hasina, her family members, and several former officials of her administration to appear in six cases over alleged corruption involving plot allocations.

Anti-Corruption Commission (ACC) Prosecutor Mir Ahmed Ali Salam said on Sunday evening that the court had earlier instructed the publication of the gazette notices, which have now been issued by the BG Press.

The gazette was signed by Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib.

“The court has scheduled July 20 for a hearing in these six cases. If the accused fail to appear before the court by then, the trial will proceed in their absence,” Salam said.​

 

[Saif]

ACC files graft cases against Shamim Osman and family

The Anti-Corruption Commission (ACC) on Tuesday filed two separate cases against former Narayanganj-4 MP and ruling Awami League leader Shamim Osman and his wife, Salma Osman, over allegations of amassing illegal wealth and engaging in suspicious financial transactions worth over Tk 5 billion. Acc

thefinancialexpress.com.bd

ACC files graft cases against Shamim Osman and family

UNB
Published :
Jul 15, 2025 20:14
Updated :
Jul 15, 2025 20:14

The Anti-Corruption Commission (ACC) on Tuesday filed two separate cases against former Narayanganj-4 MP and ruling Awami League leader Shamim Osman and his wife, Salma Osman, over allegations of amassing illegal wealth and engaging in suspicious financial transactions worth over Tk 5 billion.

According to the case documents, Shamim Osman is accused of abusing his power while serving as a public representative to illegally acquire Tk 66.7 million in unexplained assets. In addition, the ACC flagged suspicious transactions totaling Tk 4.39 billion across nine bank accounts in his name.

His wife, Salma Osman, is similarly accused of amassing Tk 30.9 million in assets beyond known sources of income. Authorities also discovered suspicious bank transactions amounting to Tk 246.6 million under her name.

The cases have been filed under Section 27(1) of the Anti-Corruption Commission Act 2004, Sections 4(2) and 4(3) of the Money Laundering Prevention Act 2012, and Section 5(2) of the Prevention of Corruption Act 1947.

Meanwhile, their son Imtinan Osman and daughter Labiba Joha have also come under the ACC’s radar. Based on preliminary findings of illicit asset accumulation, the commission has issued notices to them under Section 26(1) of the ACC Act 2004, ordering them to submit detailed statements of their wealth.

ACC officials have stated that a thorough investigation is underway, and appropriate legal action will follow based on evidence regarding the sources and flow of these funds.​

 

[Saif]

ACC prosecutes Tarique Siddique, family over ‘illicit assets’

The Anti-Corruption Commission (ACC) has initiated four separate cases against deposed prime minister Sheikh Hasina’s defence and security advisor Tarique Ahmed Siddique, his wife, and two daughters over allegations of having wealth beyond means. The cases were filed at the ACC’s Dhaka

thefinancialexpress.com.bd

ACC prosecutes Tarique Siddique, family over ‘illicit assets’

bdnews24.com
Published :
Jul 17, 2025 23:32
Updated :
Jul 17, 2025 23:32

The Anti-Corruption Commission (ACC) has initiated four separate cases against deposed prime minister Sheikh Hasina’s defence and security advisor Tarique Ahmed Siddique, his wife, and two daughters over allegations of having wealth beyond means.

The cases were filed at the ACC’s Dhaka Integrated District Office, the agency’s Director General Md Akhtar Hossain said on Thursday.

Tarique, who held his advisory role from 2009 until the government’s fall on Aug 5 last year, is accused of accumulating Tk 285.9 million in unexplained wealth.

The case, lodged by ACC Assistant Director Monirul Islam, also cites suspected abuse of power in acquiring the assets.

The national anti-graft also flagged suspicious transactions amounting to Tk 626 million across four of Tarique's bank accounts, claiming the funds were deposited and withdrawn “unlawfully”.

The agency charged Tarique under Sections 4(2) and 4(3) of the Money Laundering Prevention Act 2012, Section 27(1) of the Anti-Corruption Commission Act, 2004, and Section 5(2) of the Prevention of Corruption Act 1947.

Investigators assessed that Tarique’s immovable assets amount to Tk 246 million, while his movable assets are worth Tk 193 million.

His household expenditures total Tk 50.1 million, and his liabilities stand at Tk 42 million, placing his overall wealth at around Tk 486.5 million.

By contrast, his legitimate earnings and debt-inclusive receivables stand at just over Tk 200 million.

The commission alleges that Tk 285.9 million of this amount cannot be accounted for.

CASES AGAINST HIS WIFE, DAUGHTERS

Three additional cases named his wife Shaheen Siddique and daughters Nurin Tasmiya Siddique and Bushra Siddique as co-accused.

Shaheen is accused of holding Tk 257.6 million in unexplained wealth.

Investigators say her 11 bank accounts saw “suspicious” transactions totalling Tk 593.8 million.

Nurin faces charges involving Tk 33.7 million in illicit wealth, while Bushra is accused of acquiring Tk 40.3 million beyond known income.

The allegations were brought under the applicable sections of the laws already referenced.

The ACC noted that the case documents leave scope for further charges or suspects to be added if new information surfaces.​

 

[Saif]

Former land minister’s brother owns Tk 260m apartment in London

A luxury apartment owned by businessman Anisuzzaman Chowdhury, brother of the former Land Minister in the Awami League government, has been traced to a high-end residential building near the elite Edgware Road area in London, UK. The building is primarily known as a residence for billionaires...

en.prothomalo.com

Former land minister’s brother owns Tk 260m apartment in London
Saidul Islam London
Published: 30 Jul 2025, 14: 49

Anisuzzaman Chowdhury, brother of former land minister Saiduzzaman Chowdhury, has a luxurious apartment in this high-end multi-storey building in North London, the UK Collected.

A luxury apartment owned by businessman Anisuzzaman Chowdhury, brother of the former Land Minister in the Awami League government, has been traced to a high-end residential building near the elite Edgware Road area in London, UK.

The building is primarily known as a residence for billionaires from the Arab region.

The apartment, located in Westmark Tower on Newcastle Place in North London, was purchased for £1,606,450—equivalent to approximately Tk 265 million.

According to documents from the UK Land Registry and Companies House, the property was acquired on 15 July 2021 through a housing company named Bitcom Real Estate Limited.

Companies House records show that Bitcom Real Estate Limited (Company Number: 12582462) has two directors: Anisuzzaman Chowdhury and his wife Imrana Zaman Chowdhury. Both are listed as Bangladeshi nationals.

The company was incorporated on 1 May 2020, and its registered office is located at 22 Gilbert Street, London. The property was purchased from Berkeley Homes, one of the UK’s leading property developers, under a 999-year lease agreement.

According to the latest filings with Companies House, a re-mortgage agreement was signed on 17 January this year between Bitcom Real Estate Limited and a private lender named Sencap Limited. The charge document imposed both fixed and floating charges on the apartment.

Anisuzzaman Chowdhury is the brother of Saifuzzaman Chowdhury, the former Land Minister in the now-ousted Awami League government of Bangladesh.

The family has long been regarded as influential in both politics and business. Various international media reports indicate that they are currently under investigation in multiple countries for alleged asset acquisition and money transfers.

A recent investigation by a UK-based media outlet revealed that, over the past year, at least 20 applications for property sales, transfers, or re-mortgages have been submitted to the UK Land Registry in the names of individuals closely linked to the former Bangladeshi government. Anisuzzaman’s name appears on that list.

The report also mentions that Anisuzzaman has applied to sell or re-mortgage at least four properties, including a £10 million Georgian townhouse in London’s prestigious Regent’s Park area.

Previously, at the request of the Bangladesh government, the UK’s National Crime Agency (NCA) seized properties worth approximately £170 million allegedly linked to former Land Minister Saifuzzaman Chowdhury.

The investigation into the source of the funds used to acquire these assets is still ongoing.

Most of the properties under surveillance by British intelligence agencies are located in London’s most exclusive neighbourhoods.​

 

[Saif]

832 bhori gold recovered from Hasina’s Agrani Bank vaults

Say NBR officials

www.thedailystar.net

832 bhori gold recovered from Hasina’s Agrani Bank vaults
Say NBR officials

The Central Intelligence Cell of the National Board of Revenue has recovered 832.51 bhori gold ornaments from two vaults registered under the name of ousted prime minister Sheikh Hasina at Agrani Bank's principal branch in Motijheel.

CIC officials said the vaults, numbered 751 and 753, were opened on Monday in line with Bangladesh Bank regulations. A joint team comprising CIC personnel and representatives from other relevant agencies opened the vaults.

"Nearly 832 bhori gold ornaments have been found along with state awards and gifts received from various countries and institutions. Gifts that should have been deposited with the State Treasury were also found in the vaults," a senior CIC official, requesting anonymity, told The Daily Star.

The Anti-Corruption Commission is expected to hold a briefing on the matter soon.

Another vault registered in Hasina's name was opened the same day at Pubali Bank, but officials said no assets were found there.

The development comes amid ongoing scrutiny of financial records linked to political figures.​

 

[Saif]

Phantom bank account linked to S Alam Group

In recent months, several groups allegedly linked to S Alam Group tried to withdraw funds from the account using fake vouchers and cheques.

www.thedailystar.net

Phantom bank account linked to S Alam Group

Investigators unable to trace account holder, suspect money laundering

More than Tk 549 crore sit idle for over a year now in an account of a suspected shell company linked to S Alam Group, but investigators and Islami Bank officials are unable to trace the account holder.

The account named "Top Ten Trading House" was opened on April 13, 2023, at Islami Bank's Khatunganj branch in Chattogram. Bank documents show the owner is Almas Ali, and the company's registered address is listed as 23/5 Gopalbagh Residential Building, Jatrabari, Dhaka.

Over the last one year, bank officials served six formal notices on the so-called account holder to appear before the bank, but he did not show up. Bank officials also visited both his stated permanent and present addresses, but failed to verify his existence, raising questions about who actually opened the account.

"The owner of this account has never come to the bank. In fact, we could not confirm if he is a real person," Muhammad Jamal Uddin, a senior vice-president and head of Islami Bank's Khatunganj branch, told The Daily Star.

In recent months, several groups allegedly linked to S Alam Group tried to withdraw funds from the account using fake vouchers and cheques, even offering bribes to bank officials, he said but did not give any names.

"When the account was opened, I was not at this branch. But officials who were posted at the time said they were forced to open it without following proper procedures and verifying documents," Jamal added.

ACC SUES S ALAM

The Anti-Corruption Commission (ACC), which is investigating the matter, analysed Top Ten's documents and identified two more shell companies -- Alam Trading & Business House and Gold Star Trading House -- linked to S Alam Group.

Its investigation found that funds were deposited into Top Ten's account on multiple occasions directly from S Alam-linked firms, including S Alam subsidiaries such as S Alam Super Edible Oil Ltd, Sonali Traders, S Alam Edible Oil Ltd, and S Alam Sugar Refinery Ltd.

Mahmudul Hasan, an assistant commissioner at ACC's Dhaka office, filed a case over the suspicious account at the commission's Chattogram integrated office on August 18.

Suspects in the case include the nominal owners of three shell companies, along with S Alam Group Chairman Saiful Alam, its former deputy managing director Akiz Uddin, and former executive vice-president Miftah Uddin.

The ACC filed the case after Islami Bank alerted the anti-graft body about the suspicious account.

In a letter to the National Board of Revenue, the bank admitted that it did not follow proper procedures at the time of opening the account.

"A substantial sum was transferred into the account from investments made in the names of various S Alam Group concerns. While the transactions appeared on paper as payments to suppliers of the bank's investment clients, the ultimate beneficiaries were S Alam Group and some former bank officials who facilitated them," reads the letter dated October 18.

"Former Islami Bank deputy managing director Akiz Uddin, along with senior executives of S Alam Group, had opened fake accounts under the names of Top Ten Trading House and other shell firms to siphon off large sums of money and hide illicit financial dealings," the letter added.

FAKE VOUCHERS, PAY ORDERS

Bank and ACC documents show that on January 17, 2024, Tk 20 crore was transferred from Top Ten's account to Rabeya Enterprise at Southeast Bank. The company is owned by Nasir Uddin, who is married to Akiz Uddin's sister Sharmin Akter.

Bank officials say Akiz exerted significant control over Islami Bank and other banks under S Alam Group's ownership until August 5 last year. He reportedly left for Dubai after the political changeover.

The Daily Star called and texted him on WhatsApp, and the app's notification status indicates he has seen the message, but did not respond.

ACC investigators estimate that at least Tk 600 crore was deposited into Top Ten's account over 18 months since the opening of the account in April 2023 using a network of different bank accounts, fake vouchers, and pay orders.

Direct transfers from S Alam subsidiaries were avoided to mask the origin of the funds. Instead, the money was routed through shell companies before depositing in Top Ten's account.

On July 2, 2024, for example, Tk 523.10 crore was withdrawn in cash from Alam Trading's account at Islami Bank's Agrabad branch. The same amount was then deposited through three pay orders into the account of Gold Star Trading Company at the bank's same branch. Just a month later, on August 6, Tk 544 crore from Gold Star was deposited into Top Ten's account using a voucher, according to the case documents.

These transactions violated banking rules, as the pay orders should have been deposited into the issuing company's own account. Instead, they were diverted to Top Ten in a pattern the commission identified as embezzlement and money laundering.

Both Alam Trading and Gold Star Trading were found to be shell companies. Bank documents show Alam Trading is owned by Nurul Alam of Chattogram's Patiya upazila and Gold Star is owned by Bedarul Islam of Fatikchhari.

Their mobile numbers provided in bank records were found switched off.

These two accounts, having transactions worth over Tk 2,000 crore, have since been frozen on Bangladesh Bank's instructions, said Syed Mohammad Azim, senior assistant vice-president of Islami Bank's Agrabad branch.

A senior bank official said most of the money had already been withdrawn before the freeze in late August 2024, leaving only around Tk 2 crore.

Multiple Islami Bank officials said that during the 15-year rule of the Awami League, they could not question any transactions linked to S Alam. But after the August 5 changeover, more than 200 suspicious accounts linked to S Alam Group have been seized.

"S Alam-linked concerns embezzled around Tk 52,000 crore from Islami Bank through shell firms disguised as loans. Deposits in Top Ten Trading's account also came from such loans. Steps are underway to adjust the funds against outstanding liabilities," said Muhammad Jamal Uddin, senior vice president of Islami Bank's Khatunganj branch.​

 

[Saif]

undefined | The Financial Express

thefinancialexpress.com.bd

Bangladesh ‘freezes’ Tk 661bn assets to recover laundered money, domestically and globally

bdnews24.com
Published :
Dec 17, 2025 22:16
Updated :
Dec 17, 2025 22:24

The interim government has reported that immovable and movable assets worth Tk 661.46 million belonging to different industrial groups, both in Bangladesh and abroad, have been “attached or blocked” as part of efforts to recover laundered funds.

A media statement issued by the Finance Ministry on Wednesday said, of this, Tk 556.38 billion is held domestically, while Tk 105.08 billion is abroad. The release did not specify which countries or individuals’ assets have been frozen.

Finance Advisor Salehuddin Ahmed led the National Coordination Committee in its 30th meeting on Wednesday to formulate and implement policies and directives to prevent money laundering and terror financing.

The meeting decided to update certain provisions of the existing Money Laundering Prevention Act to make recovery of assets abroad “more efficient and effective”.

Progress on 11 priority cases, for which joint investigation teams were formed, was discussed in detail as well, according to the statement.

It said 104 cases have already been filed in these priority cases, 14 chargesheets submitted, and four cases adjudicated.

Under the act, documentation has been sent to 21 countries to facilitate recovery. Officials were instructed to expedite filing of chargesheets, forward documents to relevant countries, and take effective measures for swift case resolution.

Bangladesh Bank Governor Ahsan H Mansur said, “It normally takes four to five years to repatriate money from abroad; it is not instant. If we are lucky, the case of former land minister Saifuzzaman Chowdhury Javed in London may yield some funds. Islamic Bank and UCB have filed claims there, which could result in partial recovery.”

He, however, cautioned that the timing of any repatriation is “uncertain”, potentially arriving in February, April, June, July, or August.

Earlier, the UK’s National Crime Agency had reported freezing assets of Saifuzzaman based on information provided by the Anti-Corruption Commission.​

 

[Saif]

Bringing back laundered money may take 4-5 years

The government will amend some sections of the existing Money Laundering Prevention Act, 2012 aiming to make the recovery of laundered money and assets from abroad more efficient and effective. The decision was taken Wednesday at a meeting of the National Coordination Committee on combating money

thefinancialexpress.com.bd

Bringing back laundered money may take 4-5 years
Says BB Governor

FE REPORT
Published :
Dec 18, 2025 09:19
Updated :
Dec 18, 2025 09:19

The government will amend some sections of the existing Money Laundering Prevention Act, 2012 aiming to make the recovery of laundered money and assets from abroad more efficient and effective.

The decision was taken Wednesday at a meeting of the National Coordination Committee on combating money laundering and terrorist financing at Bangladesh secretariat.

Finance Adviser Dr Salehuddin Ahmed chaired the meeting, which reviewed the progress in recovery of laundered money.

The meeting discussed the progress relating to activities of the joint investigation team which was formed to investigate 11 priority cases to recover money and assets laundered abroad by influential quarters.

Apart from that, the authorities so far filed 104 cases based on priority list while charge sheets were submitted in 14 cases and the courts delivered judgments in four cases, the meeting was told.

According to a press release issued by the Ministry of Finance, immovable and movable assets worth Tk 661 billion-Tk 556 billion within the country and Tk 105 billion abroad-have been attached and frozen under the cases.

Additionally, 21 Mutual Legal Assistance Requests (MLARs) have been sent to the countries concerned for 11 priority cases.

The meeting, however, directed all concerned to submit charge sheets in priority cases as soon as possible, send MLARs to the concerned countries, and take effective initiatives for speedy disposal of the cases.

The meeting was told that the 4th round of mutual evaluation on Bangladesh's position regarding compliance with the existing international standards for prevention of money laundering and terrorist financing would be completed by the Asia Pacific Group on Money Laundering (APG) for the 2027-28 term.

The meeting considered mutual evaluation as the most important activity and instructed all relevant ministries, departments, and organisations to take necessary preparations to deal with evaluation successfully.

However, Bangladesh Bank governor Dr Ahsan H Mansur said bringing back laundered money was a lengthy process and might take four to five years.

"At least four to five years will be needed to bring back laundered money from abroad," he told newsmen after the meeting.

The governor said scores of cases had been filed against individuals and institutions so far, aiming to bring back the siphoned off money from abroad.

However, the governor is hopeful that a portion of the looted money can be brought back soon.

"We may be lucky, if the case of Saifuzzaman Chowdhury (Javed) in London is resolved, some money may come soon, (but) when it will come, whether before February or later, I don't know," he said.

Mr. Mansur said former land minister Javed did not contest the case in London, thus in one sense he accepted the defeat.

The Islami Bank and another bank already staked claims for money, if available after settlement of the case, he said.

"They may make appeal… this is a long process," he said. "But we think Saifuzzaman may not file any appeal, because he did not contest".

Regarding money laundering by the chairman of Chattogram-based S Alam Group Saiful Alam Masud, who allegedly looted billions of taka from the country's banking sector, the governor said S Alam filed for arbitration in Washington, against the Bangladesh authority.

"We will contest it on the ground that he is a Bangladeshi citizen and it is proved by Bangladeshi court and we have adequate proof of it," he said.

The governor said Saiful Alam Masud is not a Singaporean, rather he is a Bangladeshi national.

He was director and chairman of some banks in Bangladesh.

"How can he be a chairman or director of a local bank sans being a Bangladeshi?", he questioned.

Regarding the disbursement of the depositors' fund, the governor said the government was developing a computerisd system through which the money of the newly-formed Sammilito Islamic Bank will be channeled to their respective bank accounts.

He said around two weeks might be needed to develop the system.

Mr Mansur said a bank account of Sammilito Islamic Bank had been opened with the central bank with some Tk 200 billion there. The money was given from the fiscal budget of the government.

"We want a chaos-free disbursement of the depositors' money. But it will take some more time," he said.​