As the official state visit to the UK of Chief Advisor Mohammed Yunus begins, anti-corruption NGOs from Bangladesh and the UK are calling for greater action from the UK Government to help the Bangladesh authorities seize assets which were allegedly stolen by the previous regime.
The organisations urged the UK Government to impose sanctions on members of the Bangladeshi financial and political elite where there is reasonable suspicion of their involvement in serious corruption, as well as highlighting the need for UK law enforcement agencies to ramp up efforts to recover allegedly stolen assets located in the UK.
Iftekhar Zaman, Executive Director of Transparency International Bangladesh, said:
“The UK needs to act urgently to make the most of this rare window for democratic transition and accountable governance in Bangladesh. The return of stolen wealth should be a central plank of ongoing anti-corruption reform efforts in the country and a powerful message that money laundering is in the end effectively held to account in both source and destination”.
Susan Hawley, Executive Director of Spotlight on Corruption, said:
“There is no time to lose for the UK Government to put Anti-Corruption sanctions in place to make sure Bangladeshi assets linked to misappropriation and bribery are frozen here and in the UK’s overseas territories. This will give law enforcement agencies crucial time to recover these assets and send a strong message that those linked to grand corruption cannot get away with looting assets with impunity.”
Duncan Hames, Director of Policy at Transparency International UK, said:
“Having declared a war on money laundering, the UK should immediately investigate the £400 million in British properties tied to Sheikh Hasina’s associates and seize any assets linked to corruption. Swift action would prove Britain’s commitment to accountability isn’t just rhetoric, and support Bangladesh’s quest for democratic renewal.”
Notes
- Investigations by The Observer and Transparency International UK have traced at least £400 million worth of UK properties owned by allies of Sheikh Hasina. The UK’s National Crime Agency (NCA) has now frozen £90 million worth of these properties.
- The head of the interim Government, Muhammed Yunus, has vowed to root out corruption and recover the billions of pounds stolen during Hasina’s 15-year rule – estimated to be £11 billion ($16 billion) a year. According to an estimate from a white paper commissioned by the Government of Bangladesh, $234 billion is likely to have been siphoned out of the country at a rate of $16 billion annually between 2009 and 2023.
- The British High Commissioner pledged to support Bangladesh’s interim government in restoring peace, and ensuring accountability, whilst the Foreign Secretary has asserted that the “golden age of money laundering is over”.
- Former Prime Minister Sheikh Hasina’s government fell in August 2024, following weeks of protests by a student-led people’s movement.
