Bangladesh has intensified its legal and institutional efforts to recover laundered money from abroad, said Bangladesh Bank Governor Dr Ahsan H Mansur today.

Speaking to reporters at Bangladesh Secretariat, the governor said significant progress is being made in identifying cases and pursuing legal remedies, although the recovery of overseas assets is a lengthy and complex process.

“Bringing money back from abroad usually takes a minimum of four to five years. This is the reality of international legal procedures,” he said.

Dr Mansur confirmed that a number of cases have already been filed, with details to be disclosed in an official press release likely later in the day. He noted that while immediate recovery is unlikely, there are encouraging developments in certain cases, particularly in the United Kingdom.

Referring to a London-based case involving Saifuzzaman Chowdhury, the governor said the individual did not contest the case and has already lost.

As a result, Bangladesh may be able to recover part of the funds claimed by Islamic Bank. “There is a possibility that some money may come back. We will know the timeline in the coming months—whether before February or later in the year,” he said.

However, Dr Mansur cautioned that appeals remain a possibility in international cases, which can prolong the recovery process. “These are legal processes, and there is no shortcut,” he added.

On another front, the governor addressed arbitration proceedings initiated by S. Alam in Washington against Bangladeshi authorities. He described the move as baseless and said Bangladesh would strongly contest the case.

“We have clear and sufficient evidence that he is a Bangladeshi citizen. This has been proven in Bangladeshi courts,” Dr Mansur said, rejecting claims of foreign nationality. He pointed out that S. Alam had served as a director and chairman of a Bangladeshi bank, positions that would not have been possible without Bangladeshi citizenship.

Alongside international legal actions, Bangladesh Bank is also focusing on protecting depositors and strengthening the domestic financial system.

Dr Mansur said a computer-based system is being developed to ensure that depositors of troubled banks, including Islamic Bank, can receive their money directly into their accounts.

“This automated system will allow funds to be transferred efficiently and transparently. We want to ensure that no depositor is deprived,” he said, adding that the system would not take long to implement.

The governor emphasized that the government remains committed to recovering laundered assets, holding wrongdoers accountable, and restoring confidence in the banking sector.

While acknowledging the challenges of cross-border litigation, he expressed optimism that sustained legal efforts would eventually yield results.

“Asset recovery is a long journey, but we are moving forward with determination,” Dr Mansur said.

(Source: BSS)