United News of Bangladesh

The government has formed 11 Joint Investigation Teams (JITs) led by the Anti-Corruption Commission (ACC) to probe priority money laundering cases as part of an intensified effort to trace, investigate and recover laundered funds, Finance Minister Amir Khosru Mahmud Chowdhury told Parliament on Wednesday. Responding to a starred question from Jamaat MP Masum Mustafa elected from Netrakona-5, the minister said illegally acquired money is usually laundered abroad through highly secretive and complex methods, making it extremely difficult to determine the exact amount transferred out of the country. The 11 teams also included officials from the Criminal Investigation Department (CID), the National Board of Revenue's Central Intelligence Cell and the Customs Intelligence and Investigation Directorate. As of May 2026, courts had ordered the attachment and freezing of movable and immovable assets worth approximately Tk 76,814 crore at home and abroad in connection with the 11 priority cases, he said. To implement court orders overseas, Bangladesh has sent 23 Mutual Legal Assistance Requests (MLARs) to relevant countries. The minister said 142 cases have so far been filed in connection with efforts to recover laundered assets. Charge sheets have been submitted in 17 cases, while verdicts have been delivered in six cases. To strengthen coordination among agencies involved in asset recovery, a Stolen Asset Recovery Division has been established under the Bangladesh Financial Intelligence Unit (BFIU), he said. The government is also considering establishing a specialised asset recovery agency, following the example of several other countries, to improve the efficiency of efforts to trace and repatriate illicitly transferred wealth. Amir Khosru said Bangladesh is receiving technical assistance, training and advisory support from a number of international organisations and foreign authorities, including the International Anti-Corruption Coordination Centre (IACCC), the World Bank and UNODC's Stolen Asset Recovery (StAR) Initiative, the International Centre for Asset Recovery (ICAR) and the US Department of Justice. Bangladesh has also become a member of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) and the Asset Recovery Interagency Network-Asia Pacific (ARIN-AP) to facilitate international cooperation and information exchange. The minister further said that, alongside criminal proceedings, the government has initiated civil recovery measures to bring back laundered funds. Under this approach, around 30 banks affected by defaulted loans allegedly transferred abroad have begun the process of appointing nine international law firms under "No Win, No Fee" arrangements after signing non-disclosure agreements. In the first phase, civil proceedings have been launched against six of the 11 priority cases involving Saifuzzaman Chowdhury, S Alam Group, Beximco Group, Sikder Group, Nassa Group and Orion Group. The finance minister said plans are in place to further expand these recovery efforts. He added that once the legal processes are completed and repatriated funds begin to return, the money will be allocated or spent in accordance with existing laws, relevant international agreements and government policies. He said according to information compiled by the White Paper Committee formed by the Interim Government, the estimated volume of illicit financial outflows from Bangladesh during the 2009–2023 period stood at approximately $234 billion, averaging $16 billion annually, or about Tk 1.8 lakh crore. The minister said the amount is equivalent to 3.4 per cent of Bangladesh's GDP in FY2023-24, around one-fifth of the country's export and remittance earnings, approximately 11.2 per cent of national savings, and nearly twice the volume of net foreign aid and foreign direct investment (FDI) inflows. To recover the siphoned-off funds and prevent similar incidents in the future, the government has formed a 12-member inter-agency task force headed by the Governor of Bangladesh Bank, he said. Based on the task force's recommendations, 11 priority cases have been identified under the Money Laundering Prevention Act, 2012. These involve former Land Minister Saifuzzaman Chowdhury, S Alam Group, Beximco Group, Sikder Group, Nassa Group, Orion Group, Bashundhara Group, former Prime Minister Sheikh Hasina and her family, Nabil Group, HBM Iqbal and Summit Group.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Wednesday said the national budget for fiscal year 2026-27 (FY27) will be placed in the Jatiya Sangsad on June 11, with a focus on the welfare of all citizens as the country navigates a fragile economic situation inherited from previous administrations. “Insha Allah, this budget will be placed on June 11. It is being prepared considering every citizen of Bangladesh,” Khosru told reporters at the Bangladesh Secretariat. “We are passing through a difficult period. We inherited a fragile economy, but despite that, we are trying our best. This budget is being formulated keeping in mind every citizen of the country,” he said. The minister said the government assumed office amid a challenging economic environment marked by a heavy debt burden, rising poverty and declining investment. “Despite these challenges, we have taken responsibility and are working to deliver a budget that reflects the interests of all citizens,” he said. Khosru said the government aims to ensure broader participation in economic activities so that the benefits of growth reach all segments of society. “Hopefully, this budget will mark a good beginning as we work to recover from a fragile economic situation. Although the process will take time, the start will be positive and we will gradually move towards improvement,” he said. The finance minister said the government is seeking to steer the economy towards an investment-led growth model, moving away from what he described as previous practices of excessive money printing and heavy borrowing from the banking sector. He said efforts are underway to restore sound public financial management and prevent the country from falling into a debt trap, noting that a significant portion of the national budget is currently being spent on servicing loan interest payments. “We are trying our best to reduce our dependence on loans and increase our reliance on investment. Gradually, we will have to reduce operating costs while encouraging greater investment,” he said. Khosru said the government has been working relentlessly since assuming office to correct distortions in the economy and restore macroeconomic stability, with a view to bringing discipline to the financial sector. “These efforts will ultimately protect the interests of the people of Bangladesh and help us realise our dream of becoming a trillion-dollar economy,” he added.

Bangladesh’s banking and capital market sectors have been pushed to the brink of crisis by years of plunder, poor economic management, weak financial discipline, and the failure of regulatory institutions, Finance and Planning Minister Amir Khosru Mahmud Chowdhury said on Wednesday. “Many successful companies and several banks are now suffering from serious capital deficits in the private sector. Non-performing loans, capital flight, and embezzlement carried out in collusion between boards and management are behind it,” he said. Speaking as the chief guest at the ‘Financial Accounting and Reporting (FAR) Summit 2026’ held at a hotel in the capital, the minister painted a stark picture of the country's financial sector and called for urgent reform through transparency and accountability. The summit was organised jointly by the Financial Reporting Council (FRC) Bangladesh, the Institute of Chartered Accountants of Bangladesh (ICAB), and the Institute of Cost and Management Accountants of Bangladesh (ICMAB), aiming to bring transformative change in corporate governance and macroeconomic stability. Khosru said the country's auditing and reporting ecosystem has nearly broken down, enabling a string of financial crimes from money laundering through banks and loan fraud using false information to the listing of fraudulent companies on the stock market. “Companies that misrepresented themselves to enter the stock market have in many cases grown into large firms. This is discouraging genuinely transparent companies from coming to the market,” he said.  

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Sunday warned that prices of essential commodities are set to rise in Bangladesh in the coming days due to ongoing global supply chain disruptions triggered by the Middle East conflict. “Due to the supply chain crisis, not only fuel but other commodities will also get pricier in Bangladesh,” he told reporters after a National Multi-Stakeholder Consultation Workshop on LDC graduation preparedness at the Planning Ministry in Sher-e-Bangla Nagar. Noting that this is not a problem affecting only Bangladesh but a global challenge, the minister said the ongoing energy crisis is already casting an adverse shadow over the national economy. “The prices of food items will go up as a consequence of this crisis.” He also acknowledged the growing fiscal pressure on the government, pointing out that while other countries have significantly raised fuel prices, Bangladesh has refrained from doing so – a decision, which is straining state funds. "How long we can keep fuel prices unchanged is difficult to say with certainty. We are purchasing fuel using state treasury funds, which will ultimately be a loss for the people," the minister said, adding that any decision on fuel pricing will be taken with public welfare as the foremost consideration. On the question of LDC graduation, he ruled out any immediate move in that direction, stating that the BNP government has been working in line with its electoral manifesto to strengthen the economy. Bangladesh, Khosru emphasised, will consider LDC graduation only after achieving adequate economic preparedness.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury On Monday said the government is giving top priority to strengthening the rural economy and improving the living standards of rural people through new development projects and rural infrastructure expansion. Replying to a supplementary question from ruling party MP Md Akhtaruzzaman Mia (Dinajpur-4) in the Parliament, the minister said more than 500 projects from previous governments have not achieved even 10 percent implementation and around 1,300 projects are currently under review since there are issues related to wastage and corruption. Middle East tensions figuring in govt's policy plans for economy: Amir Khasru He said the information was presented based on official records and since those projects were undertaken by previous governments, there is limited scope for further comment. The Finance and Planning Minister, however, expressed optimism that the projects being undertaken under the present government’s development plans are focused on boosting rural economic activities and enhancing the quality of life of rural communities. “If we want to strengthen the rural economy and improve the living standards of rural people, our first priority must be the development of rural infrastructures,” he told the House. Khosru said the government is working to take practical and people-oriented projects that directly benefit rural populations and ensure sustainable economic growth across the country. He said the members of parliament can raise development proposals with the respective ministries and if any project is found feasible and beneficial for improving local livelihoods and living standards, it will be considered for future implementation. The minister also expressed hope that the government would be able to deliver more positive and encouraging news in the coming days through effective project implementation and rural development initiatives.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Monday told Parliament that on average some 13.6 lakh people aged 15 and above enter the job market every year in the country. He cited the figure from the Labour Force Survey 2024 while replying to a starred question from treasury bench lawmaker Joynal Abdin (Feni-2) during the question-and-answer session in the House. The Planning Minister said the latest Labour Force Survey was conducted in 2024 under a project titled “Improving Labour Market Information through Labour Force Survey” implemented by the Bangladesh Bureau of Statistics (BBS). According to the survey, the country’s total labour force — defined as employed and unemployed people aged 15 years and above — stands at 7 crore 17 lakh 10 thousand. Of them, 4 crore 80 lakh 20 thousand are men, while 2 crore 36 lakh 90 thousand are women, he added. Finance Minister Amir Khosru returns home after hospital treatment The minister also informed Parliament that a project proposal is currently under process at the Planning Commission to conduct the next Labour Force Survey in 2026.

Bangladesh has sought support from the United States to facilitate the import of fuel oil from Russia, citing global energy market uncertainties, Finance and Planning Minister Amir Khosru Mahmud Chowdhury said on Wednesday. He made the remarks after a meeting with US Ambassador to Bangladesh Brent T. Christensen at his Planning Ministry office in Sher-e-Bangla Nagar in the capital. “My old friend Finance Minister Khosru and I explored opportunities for increased collaboration on shared economic priorities. The U.S. Treasury Office of Technical Assistance has been working with the Ministry of Finance to help advance goals for our mutual prosperity," said the US Ambassador. Government approves purchase of 3 LNG cargoes to boost energy security Speaking to reporters following the meeting, Khosru said Bangladesh has requested a similar arrangement to the temporary waiver the United States has granted India for purchasing Russian oil.