Repatriating laundered funds may take 4–5 years: BB governor

Bangladesh Bank Governor Dr Ahsan H Mansur said on Wednesday that recovering laundered money from abroad is a lengthy process and may take four to five years owing in large part to legal countermeasures expected to be taken by the accused.

Dr Mansur made the remarks while talking to reporters after a meeting with Finance Adviser Dr Salehuddin Ahmed at the Secretariat.

When asked about the progress in bringing back siphoned funds, he said significant advancement has been made as the government is very sincere regarding this issue.

Responding to a question over potential recovery, he mentioned the case of former land minister Saifuzzaman Chowdhury in London.

“We will be very lucky if this case is resolved quickly. Since they (the accused) did not contest the case, they have lost by default.. I cannot say exactly when the money will arrive—it could be February, March, or possibly by June," Dr Mansur added.

He said other cases depend on formal applications and are subject to long legal processes abroad. "In those instances, there is little we can do to speed it up," he added.

Responding to queries regarding the S Alam Group, the Governor said the conglomerate has filed for international arbitration.

"S Alam has filed for arbitration in Washington against us. It is a case of the thief shouting the loudest. We will contest the case vigorously," the Governor said.