HC gives BFIU 3 months to form cell to bring back money laundered abroad

The High Court today (October 26, 2022) extended its earlier order for three months that asked Bangladesh Financial Intelligence Unit (BFIU) to form a research cell in its office in order to identify the persons who laundered money abroad and to bring the money back.

The court also directed the BFIU to submit a report before it within this time after complying with its order and fixed February 5 next year for further hearing and passing an order on this issue.

The HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat Lizu passed the order following a report submitted by BFIU seeking time from the court to comply with its August 31 order during hearing a suo motu (voluntary) rule.

BFIU submitted the report through Deputy Attorney General AKM Amin Uddin Manik to the HC saying that it has requested the Bangladesh Bank to appoint manpower for constituting the research cell and the appointment is now under process.

In the report, BFIU also said it has requested the finance ministry to sign agreement with 10 countries in order to get information, evidence and other relevant assistances for recovering the money laundered from Bangladesh to foreign countries.

During hearing the same rule, the HC directed BFIU Chief Md Masud Biswas to form a research cell in his office in order to identify the persons who laundered money abroad and to bring the money back and ordered him to submit a progress report in this regard to this court.

"Only the exchange of letters will not be effective in recovering the laundered money. You must take necessary effective steps. You will have to monitor this issue properly. You need to have knowledge and sincerity to this effect. If India could do it, why can't we do it," the HC bench told the BFIU chief on that day.

Senior lawyer Khurshid Alam Khan appeared for the Anti-Corruption Commission during the hearing.