Transparency International’s (TI) International Board Chair François Valérian on Thursday said that corruption in Bangladesh still persists, although it has declined since the July uprising.
“Identifying where the laundered money has gone and bringing it back is urgent. This requires coordinated action with the relevant countries,” Valérian told a press conference at a city hotel.
Transparency International Bangladesh (TIB) organised the press conference marking his visit to Bangladesh.
Noting that reform initiatives are underway in different sectors, Valérian said it is too early to predict how the situation will unfold in the future. “Corruption still exists in Bangladesh, but it has decreased after the July uprising,” he added.
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TIB Executive Director Dr Iftekharuzzaman said some preventive measures have been taken against money laundering, particularly through loan mechanisms, which have somewhat reduced the outflow.
He mentioned banking sector reforms but emphasised that money laundering continues and that prevention should be prioritised, as recovering laundered money is very difficult.
According to Dr Iftekharuzzaman, the amount laundered in recent years exceeded more than twice the volume of foreign aid and investment Bangladesh received annually.
He said curbing the practice and recovering stolen assets remain essential, citing some success such as the freezing of assets in the United Kingdom.
François Valérian arrived in Dhaka on Tuesday for a three-day visit and this is his first trip to Bangladesh since being elected Chair of TI’s International Board in 2023.
During the visit, he met TIB officials, presidents of 45 district-based Committees of Concerned Citizens (CCC), leaders of 65 Youth Engagement and Support (YES) platforms, as well as stakeholders from government and non-government sectors, civil society representatives and media professionals.
A noted academic and researcher, Valérian has been serving at TI’s International Board since 2019 and contributed to several key committees before being elected Chair.