Govt to form fund with seized assets to compensate depositors and poor people: Governor

The interim government will form a fund with money and assets recovered from individuals accused of embezzlement and money laundering to compensate general depositors and the poor, said Bangladesh Bank Governor Ahsan H Mansur.

"The fund will also include frozen assets seized from accused individuals, including shares of various banks and companies," Mansur told reporters at a press briefing today at the Foreign Service Academy in Dhaka.  

"We briefed the chief adviser on our progress in asset recovery, the challenges we are facing, and potential strategies to overcome legal hurdles," he said, adding that the central bank is working with foreign institutions through mutual legal assistance to recover laundered money.

The governor said the fund would be used in the public interest to provide relief to victims, particularly depositors affected by financial irregularities.

"We have already seized substantial amounts deposited in different banks by individuals under investigation or prosecution. In addition, we have taken control of shares owned by those who have fled or are facing charges," he said.

The meeting also discussed how the seized assets could be transferred to the proposed fund and managed transparently.

"Our chief adviser will travel to London soon and may take steps related to the recovery process from there," he added.