S M Masud Rana

During the regime of the former Sheikh Hasina government, some dishonest businessmen and influential people have been calculating how much money has been embezzled anonymously, said the head of the government, Dr. Muhammad Yunus.

A press release issued by the press wing of the Chief Adviser on Wednesday informed that some unscrupulous businessmen and influential persons have embezzled large sums of money anonymously and laundered it abroad through extensive corruption and fraud in the banking sector in recent years. The exact amount of which is ongoing. The amount of this embezzled money can be estimated to be over lakhs of taka, the notification said.

Without mentioning the names of the influential persons, the notification said that the reform process has already started in the banks and financial institutions associated with this kind of corruption and money laundering. Meanwhile, the boards of Islami Bank, Social Islami Bank, National Bank, United Commercial Bank, Global Islami Bank, Union Bank have been reconstituted. The reform process will begin in the remaining banks and financial institutions. Actual data of these embezzled funds will be collected through the new management authority. With the help of the new management authority of banks, Bangladesh Bank’s BFIU, CID and ACC, the work of acquiring local assets of embezzlers and repatriating money laundered abroad has started. The government has already started contacting various foreign organizations for help in bringing back the money.

The Chief Adviser’s Office said that the Banking Commission will be formed soon.

It is mentioned in the circular that the aim of Bangladesh Bank and Government is to build a strong banking sector capable of complying with all international standards. This restructuring and structural reform of the financial sector will take time.