80% Stolen Reserves Recovered: Governor

The Governor of Bangladesh Bank, Dr. Ahsan H. Monsur, has stated that 80% of the money stolen from the reserves has been recovered. Legal actions are ongoing to recover the remaining amount, and he is hopeful that Bangladesh will win the case.

Dr. Monsur made these remarks at the "Branding Bangladesh" event held at a hotel in the capital on Saturday, January 11, 2025.

He mentioned that a company in Chittagong was responsible for laundering 20 billion dollars abroad. Efforts are underway to recover this stolen money, and foreign authorities are also cooperating. He added that discussions are taking place with organizations like the Federal Bureau of Investigation (FBI) and other agencies in the United States. Foreign lawyers are being hired to assist in the process.

Referring to the recovery of 80% of the stolen reserves, Dr. Monsur emphasized that the legal process for recovering the remaining funds is ongoing, and he is optimistic about the outcome. He also highlighted that money laundering from the country has stopped due to improved governance. Despite political instability, remittance inflows have reached the highest levels in history.

Dr. Monsur reassured that there are still enough reserves for the next four months, so there is no cause for concern. However, he stressed the importance of remaining cautious. Over the last five months, remittances have increased by 3 billion dollars, and exports have risen by 2.5 billion dollars.

He urged expatriates to send money through official banking channels and noted that Dubai has surpassed Saudi Arabia in remittance inflows, which is not a good sign. This is because money is first sent from Saudi Arabia to Dubai, and then to Bangladesh, allowing some Dubai-based institutions to manipulate currency exchange rates.