The government has decided to amend several provisions of the Money Laundering Prevention Act, 2012 to make the recovery of money and assets siphoned off abroad more efficient and effective.
The decision was taken at the 30th meeting of the National Coordination Committee on the Prevention of Money Laundering and Terrorist Financing, held on Wednesday, with Finance Adviser Dr Salehuddin Ahmed in the chair.
The meeting reviewed overall policy directions, strategic guidelines and implementation measures aimed at strengthening Bangladesh’s framework for preventing money laundering and terrorist financing.
In this context, members agreed that certain sections of the existing law need to be updated in line with evolving challenges and international best practices, particularly to facilitate faster tracing, attachment and recovery of illicitly transferred assets from overseas jurisdictions.
The committee discussed in detail the progress of joint enquiry and investigation teams formed to handle 11 priority cases identified for the recovery of laundered money and assets abroad.
Officials informed the meeting that, so far, 104 cases have been filed in connection with these priority cases, charge sheets have been submitted in 14 cases and courts have already delivered verdicts in four cases.
The meeting was also apprised of the scale of assets attached and frozen as part of the ongoing recovery drive.
According to the figures presented, immovable and movable properties worth Tk 55,638 crore have been attached and frozen within the country, while assets worth Tk 10,508 crore have been attached and frozen abroad.
In total, assets amounting to Tk 66,146 crore have been brought under attachment and freezing measures.
In addition, 21 Mutual Legal Assistance Requests (MLARs) related to the 11 priority cases have already been sent to the concerned countries to facilitate cooperation in investigation, evidence collection and asset recovery.
Stressing the need for momentum, the chair directed the relevant authorities to expedite the submission of charge sheets, send MLARs to foreign jurisdictions without delay and take effective steps to ensure swift disposal of cases under the priority list.
The meeting also focused on Bangladesh’s preparedness for the upcoming fourth-round Mutual Evaluation by the Asia/Pacific Group on Money Laundering (APG), scheduled for the 2027–28 cycle.
Emphasising that the mutual evaluation is a matter of the highest importance for the country, the committee instructed all concerned ministries, divisions and agencies to take necessary and timely preparations to ensure full compliance with international standards on anti-money laundering and counter-terrorist financing.
Among those present at the meeting were the Chairman of the Anti-Corruption Commission, the Principal Secretary to the Chief Adviser, the Governor of Bangladesh Bank, the Finance Secretary, the Secretary of the Financial Institutions Division, the Chairman of the National Board of Revenue, the Secretary of the Ministry of Commerce, the Secretary of the Legislative and Parliamentary Affairs Division, the Chairman of the Bangladesh Securities and Exchange Commission, the Secretary (Bilateral) of the Ministry of Foreign Affairs, the Additional Attorney General, the Chief of the Criminal Investigation Department (CID), and representatives from the Ministry of Home Affairs, Bangladesh Police and the Bangladesh Financial Intelligence Unit (BFIU).