Bangladesh Freezes Tk 760 Billion from Ex-PM Hasina and Business Groups Amid Investigations
A staggering Tk 760 billion in assets linked to former Prime Minister Sheikh Hasina, her family, and ten major business groups has been frozen by Bangladesh authorities. This significant action follows ongoing investigations into alleged financial misconduct.
Ikhtiar Uddin Mohammad Mamun, head of the Bangladesh Financial Intelligence Unit (BFIU), shared these details during the presentation of the BFIU’s annual report on Wednesday. He confirmed that court orders led to the asset freezes, targeting funds both within Bangladesh and abroad.
According to Mr. Mamun, Tk 570 billion of the frozen assets are held within Bangladesh. Another Tk 190 billion has been frozen in international locations. He did not provide a specific breakdown of asset values for each individual or business entity.
Former Prime Minister Sheikh Hasina left Bangladesh for India on August 5, 2024. Her departure followed widespread student-led protests that resulted in the end of her government.
Under the current interim government, led by Professor Muhammad Yunus, comprehensive investigations were launched. These probes focus on serious allegations including bribery, corruption, fraud, currency smuggling, and money laundering involving Ms. Hasina’s family and the ten identified business groups.
The Criminal Investigation Department (CID) of the police, the National Board of Revenue (NBR), and the Anti-Corruption Commission (ACC) are conducting these investigations. The Bangladesh Financial Intelligence Unit (BFIU) is coordinating the overall effort.
The ten business groups named in the investigations are S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Gemcon Group, Nasa Group, Bashundhara Group, Sikder Group, and Aramit Group.
The BFIU chief expressed optimism about recovering stolen assets. “We are working to recover assets taken from the country,” Mr. Mamun stated. “We hope to share positive news on asset recovery by the end of this year.”
When asked about the timing of such investigations, often occurring after a government changes, Mr. Mamun emphasized the impartiality of the process. He clarified that the BFIU’s work focuses solely on detecting suspicious transactions, without considering political ties or personal identities. He added that if any members of the interim government were found to be involved in similar activities, they would also face investigation.
