Dhaka, Dec 18: The interim government has frozen assets worth Tk 66,146 crore in Bangladesh and overseas as part of a coordinated effort to recover laundered money allegedly linked to major business groups and the family of ousted prime minister Sheikh Hasina.
According to the Ministry of Finance, Tk 55,638 crore worth of movable and immovable assets have been frozen within the country, while Tk 10,508 crore has been attached abroad under 11 priority portfolios identified for asset recovery.
The assets are linked to 10 major business conglomerates—S Alam Group, Beximco Group, Summit Group, Bashundhara Group, Gemcon Group, Orion Group, Nabil Group, Nassa Group, Sikder Group and Aramit Group—along with members of the former prime minister’s family.
The disclosure was made at the 30th meeting of the National Coordination Committee on Anti-Money Laundering and Countering the Financing of Terrorism, chaired by Finance Adviser Salehuddin Ahmed.
Legal action and investigations
Authorities have so far filed 104 cases related to the priority portfolios. Charge sheets have been submitted in 14 cases, while courts have delivered verdicts in four.
To strengthen investigations, joint inquiry and investigation teams have been formed for all 11 portfolios involving funds allegedly siphoned off abroad.
International cooperation
The government has sent 21 Mutual Legal Assistance Requests (MLARs) to different countries seeking cooperation in overseas asset recovery. Relevant documents under the Anti-Money Laundering Act have also been shared with 21 jurisdictions.
Law reform push
The committee decided to amend the Money Laundering Prevention Act, 2012, aiming to make the recovery of foreign-held assets “more efficient and effective.” Agencies were instructed to expedite charge sheet submissions, ensure timely international correspondence, and fast-track case disposal.
Central bank stance
Bangladesh Bank Governor Ahsan H Mansur said the central bank would contest a petition filed by S Alam Group owner Mohammad Saiful Alam at the World Bank’s arbitration body, the International Centre for Settlement of Investment Disputes (ICSID).
“We will fight the case,” Mansur said, adding that authorities would seek to establish that Saiful Alam is a Bangladeshi citizen, despite claims of Singapore citizenship by the businessman and his family.
On asset repatriation, the governor cautioned that the process is lengthy.
“Recovering laundered money usually takes at least four to five years.”
He also expressed optimism over a London case involving former land minister Saifuzzaman Chowdhury, noting that the defendant did not contest the proceedings, which could strengthen Bangladesh’s position.
Global compliance outlook
Bangladesh is set to undergo the fourth round of Mutual Evaluation by the Asia Pacific Group on Money Laundering (APG) in 2027–28. Treating the assessment as a top priority, the committee directed all relevant ministries and agencies to begin preparations.
Senior officials, including the Bangladesh Bank governor, finance secretary, ACC chairman, NBR chairman, BSEC chairman, representatives of law enforcement agencies and the Bangladesh Financial Intelligence Unit, attended the meeting.
