B Mirror Report: Bangladesh has made progress in recovering assets siphoned abroad, with authorities in the United Kingdom seizing $25 million worth of assets under a stolen asset recovery initiative, Bangladesh Bank Governor Md. Mostakur Rahman said on Monday.
The governor said the assets are expected to be repatriated to Bangladesh after the completion of necessary legal and administrative procedures.
He made the remarks during a courtesy meeting with leaders of the Editors’ Council at the Bangladesh Bank headquarters in Dhaka.
During the meeting, the governor also discussed ongoing reforms in the banking sector, including efforts to strengthen governance, reduce non-performing loans, restructure weak banks, expand digital financial services, and ensure financial stability.
Rahman said several administrative and management changes have already been implemented as part of the reform process. He added that bank restructuring efforts would accelerate further once improvements and integration of core banking systems are completed.
The governor briefed the editors on measures taken by the central bank to protect depositors’ interests, including the reconstitution of boards and management changes at several major banks, including Islami Bank.
He also revealed that amendments to the Money Loan Court Act are underway to expedite the settlement of loan default cases. In addition, the government is preparing a Distressed Asset Management Company Act to help resolve unrecoverable loans.
Emphasizing the importance of keeping the banking sector free from political influence, Rahman said the reform agenda aims to ensure professionalism, accountability, and good governance in bank management and lending practices.
On financial inclusion, he said Bangladesh Bank is working to develop an integrated digital financial ecosystem, including digital nano-loans, AI-based credit assessments, and enhanced credit bureau services. He added that the “One Citizen, One Identity, One Wallet” initiative would help accelerate the country’s digital transformation.
The governor also said wider use of the Bangla QR payment system could boost cashless transactions and improve revenue collection through better transaction reporting.
The meeting was attended by Editors’ Council President and New Age Editor Nurul Kabir, General Secretary and Bonik Barta Editor Dewan Hanif Mahmud, along with editors of several leading national newspapers. Deputy governors of Bangladesh Bank were also present.
Participants exchanged views on strengthening the banking sector and pledged continued cooperation to support the country’s financial sector reforms and development.
