Assets Worth Tk76,000 Crore Frozen in Joint Investigation

Assets worth Tk76,000 crore belonging to former Prime Minister Sheikh Hasina’s family and 10 major business groups have been frozen in Bangladesh and abroad, according to Bangladesh Financial Intelligence Unit (BFIU) chief Ikhtiar Uddin Mohammad Mamun. The announcement was made on Wednesday during the launch of the BFIU’s annual report at the Bangladesh Bank headquarters, where he outlined the progress of an ongoing joint investigation into allegations of illicit wealth accumulation, tax evasion and money laundering.

Speaking at the event, Mamun said the investigation has resulted in the freezing of assets valued at approximately Tk57,000 crore within Bangladesh. An additional Tk19,000 crore in overseas assets has also been frozen through actions taken in cooperation with foreign jurisdictions and relevant authorities. He described the asset-freezing measures as part of a broader effort to preserve property while investigations and legal proceedings continue.

The BFIU chief said authorities are also working to recover assets that were allegedly transferred out of the country. While acknowledging that international asset recovery is often a lengthy and complex legal process, he expressed optimism that there could be positive developments before the end of the year.

“We are trying to recover the assets that have been taken out of the country,” Mamun said. “We hope to share encouraging news regarding asset recovery by the end of this year.”

Responding to a question from journalists, he said the BFIU conducts investigations without regard to political affiliation. According to him, bank accounts are frozen whenever financial intelligence or evidence indicates suspicious activity, regardless of the identity of the account holder.

“We do not consider political identity,” he said. “If a transaction is found to be suspicious, the relevant bank accounts are frozen. If anyone associated with the interim government is found to have committed similar offences, that will also come to light through the investigation.”

The joint investigation team was formed during the tenure of the interim government to examine allegations of illicit asset accumulation, tax evasion and money laundering involving Sheikh Hasina’s family and several prominent business groups. The entities named as being under investigation include S Alam Group, Beximco, Nabil Group, Summit Group, Orion Group, NASA Group, Bashundhara Group, Dr Iqbal’s Premier Group, Sikder Group and Aramit Group, which is linked to former Land Minister Saifuzzaman Chowdhury Javed.

According to the BFIU, the investigation has already led to multiple legal measures beyond the freezing of assets. These include the filing of cases and efforts to secure international legal assistance to facilitate the recovery of assets located overseas. Officials said cooperation with foreign authorities and international legal support mechanisms is continuing as part of the wider investigation.

The BFIU indicated that the inquiry remains ongoing and that further legal action may follow if additional evidence emerges. Authorities say the objective is to identify and recover assets linked to alleged financial crimes while ensuring that any subsequent action is taken through the appropriate legal process.