Part of laundered money may return by Feb: finance adviser

Finance Adviser Salehuddin Ahmed today expressed optimism that a portion of the money laundered abroad could be recovered by February next year.

Discussions are ongoing with several legal institutions to facilitate the process, the adviser said, but he did not disclose the amount expected to be repatriated.

"The Bangladesh Bank governor will speak on the exact figures," he added.

"Money launderers are very clever. Recovering the funds takes time. But we've made some progress. Talks are underway with many legal entities. By February, some of the money may come back. We're preparing the groundwork for the rest."

The adviser made the comments while speaking to reporters at his office in the secretariat.

He emphasised that no government can avoid the formalities involved in recovering laundered funds.

"Imagine I tell a Swiss bank to return the money—they won't comply. Legal procedures must be followed. We're giving top priority to 11–12 cases. Among the remaining ones, those involving over Tk 200 crore are also being pursued," he said.

When asked whether a new government would continue the initiative, Ahmed replied:

"They'll have no choice. The process we're initiating must continue—otherwise, the money won't come back. If they sit idle, nothing will happen. To recover the funds, the procedures must be followed. That's the international norm."

He further stated that some assets have already been seized.

"We have information on where their money is, which accounts they hold, and in which countries they possess passports. Now it's just a matter of time to complete the remaining work," he said.

Responding to a question on extortion, Ahmed acknowledged that due to various forms of influence, extortion has increased.

"We're trying to reduce it—but political parties must cooperate."