Tk 76,000cr assets of Hasina,  family, 10 firms frozen

The Bangladesh Financial Intelligence Unit (BFIU) has frozen local and international assets worth Tk 76,000 crore belonging to former Prime Minister Sheikh Hasina, her family members, and 10 major industrial conglomerates.

BFIU Chief Ikhtiar Uddin Mohammad Mamun disclosed the information on Wednesday during the launch of the agency's annual report at the Bangladesh Bank headquarters.

The 10 industrial groups under BFIU probe are: S. Alam; Beximco; Nabil; Summit; Orion; Nassa; Bashundhara; Premier; Sikder; Aramit

According to the BFIU chief, the assets were frozen as part of an ongoing joint investigation. Assets worth Tk 57,000 crore located within Bangladesh have been frozen. The remaining Tk 19,000 crore worth of offshore assets have been frozen abroad.

“Efforts are underway to recover the wealth stolen from the country,” Mamun stated. “We expect to deliver good news regarding asset recovery by the end of this year.”

Responding to queries about potential political bias, the BFIU chief clarified, We do not look at political affiliations. Bank accounts are frozen whenever suspicious activity is detected. If anyone from the interim government is involved in such activities, that will also come to light.”

The joint investigation team began its probe during the tenure of the interim government to look into allegations of illegal wealth accumulation, tax evasion, and money laundering. The 10 industrial groups under investigation are S. Alam Group; Beximco Group; Nabil Group; Summit Group; Orion Group; Nassa Group; Bashundhara Group; Premier Group (Dr. H.B.M. Iqbal); Sikder Group; Aramit Group (owned by former Land Minister Saifuzzaman Chowdhury Javed).

Based on the investigation reports, various measures are currently underway. In addition to freezing assets, these include filing lawsuits and signing agreements with international asset recovery agencies to repatriate laundered wealth. Mamun emphasized that the BFIU is intensifying its operations to bring back vast amounts of smuggled money and to elevate the country’s financial reputation internationally.

During the press conference, the BFIU announced that preparations are underway for the Mutual Evaluation, an international assessment of Bangladesh's anti-money laundering and counter-terrorism financing frameworks. Bangladesh has already completed three mutual evaluations, and the fourth round is scheduled to begin in early 2027. The agency noted that this is a routine yet highly efficient part of BFIU's operations.

Regarding Mutual Legal Assistance (MLA) treaties, the BFIU chief shared that agreements with two countries are currently in the final stages. Furthermore, Bangladesh maintains Memorandums of Understanding (MoUs) with the Financial Intelligence Units of 180 countries, facilitating regular and need-based information exchange via the Egmont Secure Web.

When asked by journalists about a bilateral agreement with Switzerland, the BFIU stated that information sharing with Switzerland is ongoing as a fellow Egmont Group member. However, no specific update or response has been received regarding a previous letter sent by the BFIU concerning a bilateral treaty. The process of retrieving laundered money remains ongoing.

Citing an example of international cooperation against money laundering, Ikhtiar Uddin Mohammad Mamun highlighted a recent significant case involving the former chairman of Eastern Bank Limited (EBL). A foreign state froze Tk 307 crore belonging to him and sent a letter requesting the BFIU to take necessary actions. However, due to administrative delays during the correspondence process, the funds were moved out of that country to another jurisdiction. To swiftly identify and prevent such occurrences, the BFIU is implementing multifaceted changes to its procedural systems.

Addressing the issue of information leaks regarding suspicious transactions from banks, the BFIU reiterated that when information on suspicious transactions is requested from a bank or financial institution, maintaining the security and confidentiality of that data is a legal obligation of the respective institution.

The agency reminded that even suspects retain the right to data protection as citizens. According to the law, no information can be disclosed to the public, and no individual can be publicly humiliated.