Prime Minister Sheikh Hasina announced on Wednesday that the government has embarked on an initiative to sign legal assistance agreements with ten countries.
The objective is to obtain essential information, evidence, and other necessary assistance to recover funds laundered abroad.
PM Hasina shared this information while responding to a query from Opposition Chief Whip Mujibul Haque Chunnu during the national parliament session.
PM Hasina highlighted the existing "Money Laundering Prevention Act, 2012" in Bangladesh, which aims to prevent money laundering.
The law identifies the illegal smuggling of money or property acquired through legal or illegal means abroad as money laundering.
Offenders, as per the law, could face imprisonment ranging from four to twelve years and a fine equivalent to twice the value of the involved property or Tk10 lakh, whichever is greater.
Additionally, the "Mutual Assistance Act, 2012" has been enacted to facilitate mutual legal cooperation with various countries, ensuring the repatriation of money laundered abroad.
The Ministry of Home Affairs acts as the central authority for mutual assistance in criminal matters.
A task force led by the attorney general has been formed to recover money smuggled abroad, and efforts are underway to sign Mutual Legal Assistance (MLA) agreements with ten countries.
PM Hasina also mentioned a strategy paper on the recovery of laundered money, approved by the National Coordinating Committee, and a guideline formulated by the Bangladesh Financial Intelligence Unit (BFIU) for the recovery of laundered money.
The initiatives reflect Bangladesh's commitment to combat money laundering and facilitate the repatriation of illicit funds.
Addressing concerns about inflation, PM Hasina expressed optimism that inflation would soon be under control.
Global forecasts, including those for major economies like the United States and the European Union, anticipate a significant decline in inflation in 2024.
The prime minister attributed this expected improvement to decreasing global prices of fuel, food products, and fertilizers, adjustments in fuel oil prices in Bangladesh, and government initiatives to ensure normal food supply situations.