In a major development in the investigation into the laundering of funds abroad—allegedly linked to former Prime Minister Sheikh Hasina, her family members, and several influential business conglomerates—the Bangladesh Bank has directed all commercial banks to sign agreements with 12 international law firms and asset recovery agencies to assist in recovering the illicitly transferred funds.

These international organizations will provide administrative and legal support in the recovery process. The directive came during a high-level meeting on Monday, chaired by Bangladesh Bank Governor Dr. Ahsan H. Mansur and attended by managing directors of 32 commercial banks.

Islami Bank Bangladesh CEO Omar Farooq Khan stated that the banks will form a consortium, with some acting as lead banks, and initiate work through Non-Disclosure Agreements (NDAs), noting that preliminary progress has already been made. He confirmed that a special CID unit has identified 11 business groups suspected of involvement, including Bashundhara, S. Alam, NASA, and others. AB Bank MD Mizanur Rahman emphasized that this is not a single-bank initiative but a collective “total banking concept,” while Pubali Bank MD Mohammad Ali said the asset recovery efforts would proceed under NDAs with the named international firms.

The business groups identified also include Aramit Group (linked to former land minister Saifuzzaman Chowdhury Javed), Beximco, Sikder Group, Orion, Gemcon, Nabil, and Summit Group. Allegations suggest some of the laundered funds may have directly benefited Sheikh Hasina and her family members.

Four international agencies—Stolen Asset Recovery Initiative (StAR), International Anti-Corruption Coordination Centre (IACCC), U.S. Department of Justice (DoJ), and International Centre for Asset Recovery (ICAR)—have reportedly made significant headway in data collection, with legal proceedings already underway. Bangladesh Bank has urged all commercial banks to act swiftly and in coordination to support the recovery process.