Bangladesh has so far settled only one case of recovering stolen assets out of many cases, going through a very complex procedure.
“The money siphoned off the country in the case was being repatriated,” Attorney General Mahbubey Alam told a meeting in Dhaka Monday, informing about the progress of the country’s efforts in recovering the stolen assets.
To speak about the success story, he referred to the repatriation of money laundered by former prime minister’s son Arafat Rahman. He said some of influential political persons were involved with money laundering.
“There are many cases still pending but a case has been finished so far,” he said, terming corruption as a social disease and money laundering as one of the tools of the illegal means. “We’ll gradually conclude all other cases too.”
The attorney general, who led the asset recovery drive from Singapore, was addressing the inaugural session of a two-day training programme on asset recovery, organised by Anti Corruption Commission (ACC) of Bangladesh.
The training programme is to strengthen the capacity of multi-agency government officials to recover the siphoned off public money from abroad.
The attorney general assured his office would provide all necessary support to the ACC in all its attempts to recover the money laundered so far.
Speaking as the chief guest, Finance Minister AMA Muhith stressed on strengthening the ACC by using the money they recovered through their efforts.
“The ACC already recovered some money which is now being used in looking into the anti-graft activities,” he said.
About the government’s pre-election commitment to uproot corruption, he said: “Corruption could not be eliminated totally yet, but it has been reduced in our tenure.”
If all the recovered money could be used in checking graft, it will help the ACC to strengthen its teeth, added the minister.
Cabinet Secretary M Musharraf Hossain Bhuiyan said the ACC act has given full financial and administrative independence to the commission.
He emphasised on comprehensive legal framework and institutional capacity in recovering assets. “We have laws, but enforcement is limited. We need to work more into it.”
He said the ACC alone cannot recover the siphoned off money and it needed support from Bangladesh Bank and National Board of Revenue.
Bangladesh Bank Governor Atiur Rahman said successful operation of recovering assets requires intelligence cooperation and helps from sources and other countries.
“Asset recovery is a complex procedure. It needs legal framework to recover laundered money,” he said, speaking about the relatively new area even in the global scene.
“However, we have already recovered laundered money from a person which is a success.”
ACC Chairman M Badiuzzaman and Secretary M Faizur Rahman Chowdhury also spoke among others.
