The Bangladesh Financial Intelligence Unit (BFIU) has suggested the Finance Ministry to enter into Mutual Legal Assistance Agreements (MLA Agreements) with at least 10 countries to receive necessary information, evidence and other necessary assistance to recover money laundered abroad.
The countries are--- USA, UK, Canada, Singapore, Australia, Malaysia, United Arab Emirate (UAE), Switzerland, Thailand and Hongkong (China), according to a report submitted in the High Court on Tuesday.
Head of Bangladesh Financial Intelligence Unit (BFIU), Md Masud Biswas, sent the report complying with an earlier order of the High Court.
Earlier on August 31, the HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat asked the BFIU chief to form a research cell over the money laundering issues.
It also directed the BFIU chief to submit a detail report by October 26 this year on their steps taken to recover the money deposited by the Bangladeshi individuals and entities to the banks of different countries.
The court said, “Issuing letters to different organisations and the countries is not enough for recovering the laundered money. You have to monitor it regularly. Do something and show the people. Money laundering has to be reduced at any cost.”
The court also asked the BFIU chief to read an Indian Supreme Court verdict that suggested some ways on preventing money laundering and recovering laundered money.
According to the report, Bangladesh Bank has been requested to provide manpower in the proposed 'Research Cell' to identify the people involved in money laundering abroad and bring the money back to the country and Bangladesh Bank is in the process of appointing the required number of suitable manpower in that cell.
The sixth meeting of the task force formed on the bringing back of the money laundered abroad to Bangladesh under the leadership of the Attorney General was held on January 3 this year in the context of not receiving the evidence from the foreign states in time in the cases related to the bringing back of that money.
It was decided to hold a meeting with the participation of different concerned bodies of the government to take necessary initiatives for receiving necessary information, evidence and assistance to recover the laundered money abroad in the meeting.
Later, the Financial Institutions Department of the Finance Ministry requested the BFIU to give suggestion on with which countries MLA agreements should be signed. Then the BFIU suggested the names of 10 countries.
Deputy Attorney General AKM Amin Uddin Manik, a state lawyer of the concerned HC bench, said the report will be submitted in the court on Wednesday.
