Assets seized from corrupt people to be used for the poor: BB Governor

The government would set up a fund for managing the seized illegal assets and money of corrupt individuals and donating the properties among poor people, said Bangladesh Bank Governor Dr Ahsan H Mansur on Monday.

He also said it would take four-five years to repatriate the money and assets laundered abroad during the 15-year Awami League autocratic rule. However, most of the laundered money can be frozen within a year, he noted.

He made the disclosures following a high-profile meeting on the repatriation of laundered money, chaired by Chief Adviser Professor Muhammad Yunus, at the Foreign Service Academy.

Present at the briefing were Governor Ahsan H Mansur, Chief Adviser’s Press Secretary Shafiqul Alam, and Head of the Bangladesh Financial Intelligence Unit (BFIU) AFM Shahinul Islam.

Governor Mansur said the fund, to be formally established soon, will ensure continuity and transparency in managing seized assets under future administrations.