The interim government led by Muhammed Yunus announced on Wednesday that it started working to ‘acquire local assets’ of embezzlers and bring back laundered money from abroad.
As part of the step, communication with various foreign organisations has also been started, according to a press release sent by the chief adviser’s office on Wednesday.
It said that the government was taking joint assistance of the new management board of the banks, the Bangladesh Financial Intelligence Unit of Bangladesh Bank, the Criminal Investigation Department of police, and the Anti-Corruption Commission in this recovery work.
‘Contacts have already been initiated seeking help from various foreign agencies regarding repatriation of money. It is indicated to restructure the banks in the country by recovering the money,’ the release said.
Bangladesh Bank and the government are working towards the goal of building a strong banking sector capable of meeting international standards, said the release.
Bangladesh Bank and the government are taking measures to acquire the local and foreign assets of the money embezzlers and restructure the banks by bringing money back from abroad.
‘Certain dishonest businesspeople and other influential persons in recent years embezzled huge sums of money through massive corruption and fraud in the banking sector and laundered it abroad, said the release.
It also said that the process of restructuring institutions had already been started in banks and financial institutions, and already Islami Bank, Social Islami Bank, National Bank, United Commercial Bank, Global Islami Bank, and Union Bank boards had been reconstituted.
‘Reformation activities will also be started in the remaining banks and financial institutions. The actual data of these embezzled funds will be collected through the new management authority, and audit activities will be started to determine the actual amount of money embezzled through them.’
‘The true picture of each concerned bank will be disclosed, and a roadmap will be formulated within six months for the restructuring of the banks,’ said the release, adding that the government would soon form a banking commission.
Although restructuring the banks and structural reforms of the financial sector is a time-consuming matter, the government is determined to make the financial sector of the country able to meet international standards, the release added.