Speaking to reporters during a discussion this afternoon at the Secretariat on preventing money laundering and recovering funds that have been laundered, the governor made these statements. Salehuddin Ahmed, a finance advisor, presided over the meeting.

Mansur stated, “We will fight the matter,” referring to S Alam’s arbitration claim. We shall demonstrate that S Alam is a citizen of Bangladesh, even though he and his family have claimed to be Singaporeans.”

“He was the chairman and director of several banks in Bangladesh,” he continued.
Saiful Alam and his family’s attorneys filed the case with ICSID in Washington on October 27, according to a Financial Times report.

The governor stated that the procedure typically takes at least four to five years when asked about the likelihood of reclaiming money that has been laundered in the near future.
“It doesn’t happen faster. But we are optimistic about the outcome of the former minister Saifuzzaman Chowdhury case in London,” he stated, noting that Bangladesh has a better chance because the defendant did not contest the case there.
He added that United Commercial Bank (UCB) and Islami Bank Bangladesh are involved in that issue, but it is still unclear when the money will be repatriated. He stated, “It might take till February, March, April, May, or even June.”

Mansur added that court petitions previously filed overseas determine the outcome of additional cases. There isn’t much we can do to expedite this long procedure. However, there has been a lot of development, and the government is earnest about this.