World Bank to help Bangladesh in recovering stolen assets
A WB delegation, at a meeting with the ACC chairman on Tuesday, also assured of cooperation in preventing money laundering
The World Bank will assist Bangladesh through the Stolen Asset Recovery Initiative in efforts to recover stolen assets.
The development came at a meeting with a World Bank delegation from the Stolen Asset Recovery Initiative with Anti-Corruption Commission (ACC) Chairman Mohammad Moinuddin Abdullah at the ACC office on Tuesday (24 September).
A two-member WB team had an hour-long meeting with the chairman, starting around 1:45pm, according to an ACC official.
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ACC Director General (prevention) Akhtar Hossain said, "The meeting involved a detailed discussion on the Stolen Asset Recovery Initiative's cooperation regarding the recovery of stolen assets."
"Laundered money cannot be recovered without the cooperation of the countries where it has been moved. For this reason, the World Bank will engage with the law enforcement agencies of those nations. With their collaboration, the World Bank will provide assistance in the recovery process," he added.
There was also a discussion to increase the capacity of the ACC. The delegation assured ACC of helping the prevention of money laundering, he added.
He said, ""We discussed strategies for recovering wealth that has been laundered to other countries, as well as training and capacity-building for our officials."
The ACC officials also held meetings with delegations of the Federal Bureau of Investigation (FBI) and the United Nations Office on Drugs and Crime (UNODC) this month on money laundering.
The Stolen Asset Recovery Initiative is a partnership between the World Bank Group and UNODC that supports international efforts to end safe havens for corrupt funds.
