Govt in talks with FBI to recover smuggled funds: CA's Press Secretary

The government is committed to recovering money looted and sent abroad over the past 15 years, with international collaborations starting from 10 December, including meetings with the US Federal Bureau of Investigation (FBI), according to Shafiqul Alam, press secretary to the chief adviser.

Addressing a press briefing yesterday at the Foreign Service Academy in Dhaka, Shafiqul said, "The government is in talks with various foreign institutions, including the FBI, to determine where the stolen money was taken and how to bring it back."

He stressed the administration's firm stance on accountability, saying, "Everyone involved in stealing the country's money will be brought to justice. The theft must be judged, and no one will be spared."

Shafiqul also alleged that the Sheikh Hasina government, shortly before its fall, printed Tk60,000 crore, primarily to facilitate money smuggling by businessman S Alam.

"The economic White Paper has conducted a post-mortem of the development narrative. The picture that has emerged is horrifying. A massive loot has taken place right before our eyes," he said.

The findings from a commission led by economist Debapriya Bhattacharya left the chief adviser, Muhammad Yunus, "shocked," according to Shafiqul.

"The looting is enough to chill one to the bone. Arrangements must be made to recover this money. The chief adviser described the findings as a historical document to be shared with everyone."

Shafiqul noted that the white paper drafting committee estimates defaulted loans could amount to 30% of total loans, based on information provided by the Governor of Bangladesh Bank.

"This is a three-month report compiled from available data. It will be updated to provide a complete picture of how the country's money was looted," he added.

Specific instances of alleged financial mismanagement were also highlighted.

Shafiqul said that Saifuddin Ahmed Chowdhury pushed for the construction of the Karnaphuli tunnel, thus wasting state funds as the tunnel remains underused.

On financial measures, Shafiqul addressed concerns about Tk22,500 crore recently printed for liquidity support to six weak banks, asserting it would not impact inflation.

"The Tk22,500 crore is like water in a well. It will not have the slightest impact on inflation," he said.

Bangladesh Bank Governor Abdus Shahid Ahsan had earlier confirmed the printing during a separate press conference, explaining that it was intended to provide liquidity support and protect depositors in financially weak banks.  

Further details of the findings will be presented during a press conference by the commission on Monday, Shafiqul noted.