UK-based firms have expressed interest in investing up to $50 million to help Bangladesh recover assets allegedly stolen and laundered abroad during the Awami League’s rule. The interest was shown during Bangladesh Bank Governor Ahsan H Mansur’s visit to London in March, as part of the interim government’s asset recovery efforts.
Mansur, head of the Asset Recovery Taskforce, held meetings with key UK stakeholders and stated that the UK is a major destination for illicit funds from Bangladesh. The initiative targets assets allegedly laundered by 11 influential families, with one family alone suspected of transferring $15 billion abroad.
The recovery effort focuses on corruption in the banking sector and misuse of state institutions. Around $25 billion is believed to have been laundered from Bangladesh, with the UK identified as a key starting point for recovery. Private firms will be engaged under a Terms of Reference expected by the end of April. They will be compensated from a portion of the recovered funds, requiring no upfront payment from Bangladesh Bank. Technical support will come from the World Bank and ICAR.
Three major litigation funders have already shown strong interest. Mansur also met UK lawmakers and officials to gain broader support for the initiative.
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