As Bangladesh’s Chief Adviser Prof Muhammad Yunus begins his official visit to the United Kingdom, anti-corruption campaigners from both countries have urged the UK government to take stronger action in helping Bangladesh trace and recover assets allegedly stolen by the previous regime.
Transparency International Bangladesh, Transparency International UK and Spotlight on Corruption jointly called for the UK authorities to impose sanctions on individuals from the Bangladeshi elite suspected of serious corruption and to step up enforcement efforts to seize suspicious assets located in Britain, said a press release of Transparency International Bangladesh (TIB) issued on Tuesday.
Iftekhar Zaman, executive director of TIB said “The UK needs to act urgently to make the most of this rare window for democratic transition and accountable governance in Bangladesh. The return of stolen wealth should be a central plank of ongoing anti-corruption reform efforts in the country and a powerful message that money laundering is in the end effectively held to account in both source and destination”.
Susan Hawley, executive director of Spotlight on Corruption, said “There is no time to lose for the UK Government to put Anti-Corruption sanctions in place to make sure Bangladeshi assets linked to misappropriation and bribery are frozen here and in the UK’s overseas territories. This will give law enforcement agencies crucial time to pursue cases and recover these assets and send a strong message that those linked to grand corruption cannot get away with looting assets with impunity.”
Duncan Hames, director of Policy at Transparency International UK, said “Having declared a war on money laundering, the UK should immediately investigate the £400 million in British properties tied to Sheikh Hasina's associates and seize any assets linked to corruption. Swift action would prove Britain's commitment to accountability isn't just rhetoric, and support Bangladesh's quest for democratic renewal.”
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Investigations by The Observer and Transparency International UK have identified at least £400 million worth of UK properties allegedly owned by close associates of former prime minister Sheikh Hasina.
The UK’s National Crime Agency has reportedly frozen £90 million worth of these assets.
Chief Adviser Yunus, who heads Bangladesh’s interim government, has pledged to root out corruption and recover public funds allegedly stolen during Hasina’s 15-year tenure.
A government-commissioned white paper estimates that some $234 billion was siphoned out of the country between 2009 and 2023—equivalent to about $16 billion a year.
The British high commissioner in Dhaka has pledged support to Bangladesh’s interim government in restoring peace and ensuring accountability. Meanwhile, the UK Foreign Secretary has stated that the “golden age of money laundering is over.”
Sheikh Hasina’s government fell in August 2024 following weeks of mass protests led by student movements demanding democratic reforms.