Govt Taking Action to Recover Laundered Money: Salehuddin

Finance Adviser Dr. Salehuddin Ahmed has stated that the government is actively working to recover laundered money from abroad, although the process will take time due to the substantial amount that has been illicitly transferred over the years.

Speaking to BSS in an interview at the Bangladesh Secretariat, Dr. Ahmed emphasized that the taskforce dedicated to this effort is operating with diligence, having already identified individuals and destinations linked to the laundered funds. “The taskforce is doing its job seriously, but this has been a long-standing issue,” he noted, while also outlining key aspects of the upcoming national budget—the first for the interim government led by Nobel Laureate Professor Dr. Muhammad Yunus.

Dr. Ahmed pointed out that significant sums have been funneled into global tax havens, with some high-profile cases already under investigation. He mentioned that the government has frozen personal, rather than business, accounts of suspected launderers as a strategic move. “They’ve been sent a clear message—such wrongdoing will not go unchallenged,” he said.

He further explained that the recovery process is complex and cannot be achieved overnight. “Money launderers are not naïve. It’s a long process, but we are hopeful. The next government should continue the effort,” he added.

Additionally, Bangladesh Bank Governor Dr. Ahsan H. Mansur said the frozen and seized assets from those who looted public funds during the previous regime will be placed into two separate sovereign funds—one for bank-related plunder and another for non-bank financial crimes.

Currently, the Bangladesh Financial Intelligence Unit (BFIU), Bangladesh Bank, and other relevant agencies are working together through an inter-agency taskforce to retrieve the stolen assets. Dr. Mansur acknowledged that Bangladesh lacks prior experience in repatriating laundered money, but said legal amendments and strengthened taskforce powers are underway.

On the issue of black money, Dr. Ahmed confirmed there will be no direct provision in the next budget for its whitening. However, reforms are being considered in areas where such money typically circulates, such as real estate. The government may reduce property registration fees to encourage more accurate valuation and formalization of money, particularly in urban areas. A committee led by the land secretary is reviewing mouza valuation, though full implementation may take time.

Regarding progress in the banking sector, Dr. Ahmed said the interim government has supported financially weak banks to protect depositors’ interests, though challenges remain for institutions hit hard by fund siphoning. “We are addressing these issues, but it cannot be solved by printing money—we need actual financial resources,” he concluded.