Established within the framework of the amended Money Laundering Prevention Ordinance, 2007, the unit will operate as part of the Bangladesh Bank's (BB) Anti-Money Laundering Department (AMLD).

The United States government has already provided the department with software essential to analyse and detect financial crimes.

Besides, it will send a consultant next month to train officials of the FIU that will consist of personnel from AMLD, the Attorney General's Office and the Criminal Investigation Department (CID).

A BB source said the unit would collect and analyse information from home and abroad and if necessary, would share those with authorities concerned.

Another government source said many of the big names rounded up recently for alleged corruption maintain accounts with offshore banks.

Currently, the government high-ups are discussing how to use the FIU to recover the huge sums believed to have been siphoned off the country.

Though set up in 2003 in line with the anti-money laundering law enacted the previous year, the AMLD has yet to unearth any big money laundering offences while some minor cases too stand unresolved.

Last Monday, the caretaker government approved in principle a proposed amendment to the Money Laundering Prevention Ordinance, 2007.

The amendment empowers the central bank to sign memorandums of understanding or mutual pacts with the other countries with regard to financial crime investigation.

Besides, the BB would face no legal bar to exchanging information or expertise with FIUs of the other countries.

Sources said the US has been pressing Bangladesh to strengthen its anti-money laundering measures since 9/11 in 2001.

During the tenure of the BNP-led coalition government, US government officials held talks with the central bank, and the Home and foreign ministries to find ways to stop terror financing in Bangladesh.

But the then government could not amend the anti-money laundering law due mainly to internal wrangling.

The US also provided training to a number of intelligence and BB officials to leave them better equipped to fight terrorism in financial sector, added the sources.