Assets worth Tk 76,000 crore belonging to 10 industrial groups and the Sheikh Hasina family frozen: BFIU chief

The Bangladesh Financial Intelligence Unit (BFIU) has frozen domestic and international assets worth 760 billion taka (£4.6 billion) belonging to the ousted Prime Minister Sheikh Hasina, her family members, and ten major business conglomerates. The announcement was made by BFIU Chief Ikhtiar Uddin Mohammad Mamun during the publication ceremony of the agency’s annual report at the Bangladesh Bank headquarters on Wednesday.

According to the financial intelligence chief, the sweeping crackdown is the result of a comprehensive joint investigation targeting financial irregularities, tax evasion, and money laundering that allegedly occurred during the previous regime. The authorities have successfully frozen domestic assets and bank accounts valued at 570 billion taka. An additional 190 billion taka held in foreign jurisdictions has also been frozen following international cooperation.

Mr Mamun emphasised that state agencies are working tirelessly to repatriate the laundered wealth. He expressed optimism that the government would be able to deliver positive news regarding the recovery of stolen assets by the end of this year.

Responding to reporters, the BFIU chief maintained that the agency acts independently of political affiliations. Financial watchdogs freeze bank accounts based strictly on suspicious transaction reports and credible evidence of wrongdoing. He added that the interim administration remains committed to transparency, stating that if any member of the current government is found engaging in illicit financial activities, they will face the same scrutiny.

The joint investigation team was formed under the interim government to scrutinise the financial dealings of the Hasina family and ten prominent corporate houses. The conglomerates under investigation include the S. Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Nassa Group, Bashundhara Group, Premier Group (owned by Dr H.B.M. Iqbal), Sikder Group, and the Aramit Group, which is linked to the former Land Minister Saifuzzaman Chowdhury Javed.

Beyond freezing assets, the authorities have initiated formal legal proceedings and lawsuits against the accused individuals and entities. The government has also entered into agreements with international legal aid organisations and asset recovery firms to navigate the complex legal frameworks required to repatriate the funds back to Bangladesh.