Bangladesh Bank Governor Dr Ahsan Habib Mansur has announced a major step forward in the country’s efforts to reclaim funds siphoned abroad. Commercial banks in Bangladesh have entered into formal agreements with international legal consortia, enabling the judicial recovery of assets held by fugitives and involved in cross-border money laundering.
Speaking at the Bangladesh Bank headquarters on Monday during the announcement of the central bank’s monetary policy for the second half of the current financial year (FY26), Dr Mansur emphasised the significance of these partnerships. “At present, twelve specialised international consortia, comprised of law firms and litigation specialists, are collaborating with Bangladeshi banks. Their primary goal is the identification and recovery of assets that have been laundered or moved overseas,” he stated.
Dr Mansur further explained that most banks have signed non-disclosure agreements with these consortia, focusing predominantly on civil litigation to reclaim funds. “Criminal proceedings are often constrained by the inability of domestic law enforcement to pursue offenders abroad. Civil lawsuits, on the other hand, provide a faster and more direct route to asset recovery,” he added.
The initiative arises from growing concerns over the complexity of cross-border money-laundering networks. By partnering with international legal experts, Bangladeshi banks aim to expedite the recovery of substantial sums previously beyond reach. The consortia specialise in asset tracing, cross-border legal transactions, and recovery procedures, significantly improving the prospects of retrieving transferred funds.
Dr Mansur acknowledged that while the process can be lengthy, the collaboration represents a crucial stride toward safeguarding the stability of Bangladesh’s banking sector and deterring future financial malfeasance.
Summary of Bank–International Consortium Agreements
| Parameter | Details |
|---|---|
| Number of Consortia | 12 |
| Type of Legal Action | Civil litigation only |
| Participants | Commercial banks and international law firms |
| Objective | Recovery of laundered or fugitive funds held abroad |
| Legal Focus | Asset identification, cross-border operations, legal recovery |
Dr Mansur concluded: “This agreement is not merely a procedural step; it is a strategic measure to enhance transparency in our banking system and to secure the nation’s financial interests against international fraud.”
With these agreements in place, Bangladesh’s financial institutions are poised to recover significant overseas assets while establishing a framework for stronger preventive measures against future economic crimes.