Written by The Banking Post
Newly appointed Bangladesh Bank Governor Md Mostaqur Rahman has directed officials to take urgent action to recover funds illicitly transferred abroad, signalling a renewed drive against capital flight and financial crimes.
The instruction came during a meeting with a consultant working with the Stolen Asset Recovery task force, according to the central bank’s Executive Director and spokesperson.
At the meeting, the governor ordered officials to intensify and streamline the recovery process and place it on a fast-track footing to accelerate the repatriation of laundered assets. He stressed the need for visible progress through stronger coordination among domestic agencies and enhanced cooperation with foreign jurisdictions.
The initiative comes at a time when Bangladesh is grappling with mounting concerns over large-scale loan irregularities and illicit capital outflows that have weighed on foreign exchange reserves and banking sector stability.
Policymakers estimate that billions of dollars were siphoned off through trade misinvoicing, fraudulent lending and offshore investments in recent years, deepening pressure on the country’s external balances.
The Stolen Asset Recovery programme aims to trace and bring back illegally transferred funds through collaboration with overseas authorities and international financial institutions. Officials said the latest meeting focused on strengthening investigative capacity, legal coordination and asset-tracing mechanisms.
The directive aligns with broader reform efforts by Bangladesh Bank to tighten oversight of commercial banks, resolve distressed assets and restore confidence in the financial system.
Recovery of siphoned funds is expected to ease pressure on external accounts while reinforcing accountability across the banking sector.
