Freeze Bangladeshi laundered assets immediately: TIB, 4 other orgs appeal to govts, including in UK, USA, and EU
Transparency International Bangladesh (TIB) and four other UK-based anti-corruption agencies have jointly called for the immediate freezing of illegal assets held by Bangladeshis in various countries, including the United Kingdom, United States, Switzerland, EU nations, Australia, Singapore, Malaysia, Hong Kong, and the United Arab Emirates, to initiate the process of recovering money smuggled from Bangladesh.
In a joint letter addressed to the UK Secretary of State for Foreign, Commonwealth and Development Affairs, TI-UK, the UK Anti-Corruption Coalition, the International Lawyers Project, Spotlight on Corruption, and TIB highlighted the importance of fostering active collaboration with the Bangladeshi government.
They also emphasised the importance of working together to ensure that those who possess illegal assets are held accountable and to facilitate the return of these assets.
Dr Iftekharuzzaman, executive director of TIB, said, “Most of the countries where corrupt money and assets from Bangladesh have been laundered to are among our development, trade and investment partners who are committed to fighting corruption nationally and internationally. Now is the time for them to take such commitments to a new level of effectiveness by immediate necessary actions to freeze illegal assets owned by all Bangladeshi individuals and entities in their respective jurisdictions.
“We particularly call upon governments of UK, USA, Switzerland, Canada, Australia, EU countries as well as Singapore, Malaysia, Hong Kong and UAE to freeze such assets as the step to repatriate the same to Bangladesh and hold the perpetrators to account.”
Susan Hawley, executive director of Spotlight on Corruption, said, “The UK really needs to put its money where its mouth is when it comes to helping developing countries like Bangladesh track down stolen assets that the UK is harbouring, and to ensuring accountability of corrupt actors. By bolstering anti-corruption efforts at this crucial moment for Bangladesh, the UK could play a decisive role in ensuring the country achieve the secure democratic and inclusive future that the UK has promised to help it achieve.”
Duncan Hames, director of Policy at Transparency International UK, said, “We know that Bangladeshi politicians with unexplained wealth and members of the business elite accused of wrongdoing have significant asset portfolios here in the UK and abroad. The British government should now work closely with allies around the world and civil society within Bangladesh to introduce a sanctions regime which freezes the assets of these corrupt figures and their enablers, ensuring they do not enjoy their ill-gotten gains.”
In the letter to the UK Secretary of State on 30 August, it was highlighted that the extensive corruption by beneficiaries of the ousted authoritarian government is being uncovered in Bangladesh, which is currently in transition.
The assets smuggled by these beneficiaries rightfully belong to the citizens of Bangladesh. In order to contribute to the reforming of a “New Bangladesh”, it is essential to promptly locate and retrieve these concealed assets from different countries across the globe. This will help improve transparency, accountability, democracy, and inclusivity in the country. The letter sought cooperation from the UK Secretary of State to support this effort.
