Finalise the agreement by 3 months, bring back laundered money: HC orders BFIU

The High Court on Wednesday has ordered Bangladesh Financial Intelligence Unit (BFIU) to sign an agreement with 10 countries to bringing back the laundered money. The court also ordered BFIU to finish its task within three months.

The HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat issued the order after receiving a report on the matter from the BFIU on Wednesday.

The HC bench has also questioned the role of the Anti-Corruption Commission (ACC) in bringing back laundered money home saying that the anti-corruption watchdog is "sleeping" on the matter.

Deputy Attorney General AKM Amin Uddin Manik confirmed the matter to the media. He was attended the hearing on behalf of the state while Md Khurshid Alam Khan was for the ACC.

After hearing AKM Amin Uddin Manik said, “We asked for three months' time to submit a progress report on the recovery of laundered money. The court set a Feb 5 deadline and referred to government-to-government agreements in this regard, which was not mentioned in the BFIU report.”

The BFIU on Wednesday informed the HC that it wants to sign agreements with total 10 countries in a bid to fight money laundering.  In this regard, a report was submitted before the court which instructed BFIU to finish the task within three months. 

According to the report, BFIU is planning to sign deals with – the US, UK, Canada, Singapore, Australia, Malaysia, UAE, Switzerland, Thailand, Hong Kong and China – to exchange information, evidence and other necessary assistance to recover laundered money.

The report also said that "BFIU has asked Bangladesh Bank (BB) to recruit manpower for the proposed ‘Research Cell’ and the recruitment process is currently ongoing.

It is mentionable, the issue of money laundering has come under the spotlight after Swiss Ambassador Nathalie Chuard said in August of this year that Bangladesh did not request any specific information about funds deposited by its nationals in Swiss banks.

The court later sought an explanation from the government and the ACC on the envoy's comments.

It then directed the BFIU to submit a progress report on the recovery of laundered money. But the BFIU report did not indicate any significant progress.