Bangladesh Bank’s newly appointed governor Ahsan H Mansur pledged on Wednesday to make life difficult for money launderers and emphasized the need for combined efforts to recover laundered funds.

Addressing the media at the central bank’s headquarters in Dhaka, Mansur identified inflation as a major challenge, noting that it surged to 11.66% in July due to rising food prices.

Mansur highlighted the importance of leveraging international support and adhering to domestic legal processes to pressure those involved in money laundering.

He remarked that international laws would be utilized to put significant strain on the launderers.

Acknowledging the Bangladesh Bank’s role in the current state of the country’s banking sector, Mansur noted that while most banks are in good condition, some are struggling and may require government liquidity support.

The question of whether this capital will come from the government or the private sector remains crucial.

He emphasized the need to investigate why the central bank facilitated irregularities and noted that the deterioration of the banking sector reflects broader national issues.

Mansur assured that the role of the Bangladesh Bank in these irregularities would be thoroughly examined, with no tolerance for hiding reports or manipulating data.

He also pointed out that defaulted loans in many banks are significantly higher than reported and vowed to end the practice of altering inspection reports before they reach senior officials.

Mansur was appointed as the governor of the Bangladesh Bank on Tuesday following the resignation of his predecessor, Abdur Rouf Talukder, amid political turmoil.

Awami League president Sheikh Hasina resigned as prime minister and fled to India on August 5 following a mass uprising led by students.