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World Bank to help Bangladesh recover stolen assets

  • Bizbd Report
  • Update Time : 02:36:59 am, Wednesday, 25 September 2024
  • 115

The World Bank would support Bangladesh through the Stolen Asset Recovery Initiative to help recover stolen assets.

This development was discussed during a meeting between the World Bank delegation and Anti-Corruption Commission Chairman Mohammad Moinuddin Abdullah.

This meeting took place at the ACC office on 24 September, involving a two-member team from the World Bank and lasting about an hour.

ACC Director General (Prevention) Akhtar Hossain said that the meeting included a thorough discussion on the Stolen Asset Recovery Initiative and the necessary collaboration for asset recovery.

He said that recovering laundered money relies on cooperation with the countries where the funds have been moved.

It was indicated that the World Bank intends to work with law enforcement agencies in those regions to support this effort, Akhtar said.

The discussions also covered ways to strengthen the ACC’s capacity to address these challenges.

The delegation reiterated their commitment to supporting efforts to prevent money laundering.

Akhter mentioned that they considered strategies for recovering assets that have been transferred overseas, along with potential training and capacity-building initiatives for ACC officials.

Earlier this month, ACC officials also met with representatives from the Federal Bureau of Investigation (FBI) and the United Nations Office on Drugs and Crime (UNODC) regarding money laundering.

The Stolen Asset Recovery Initiative is a collaborative effort between the World Bank Group and UNODC aimed at eliminating safe havens for corrupt funds on an international scale.

World Bank to help Bangladesh recover stolen assets

Update Time : 02:36:59 am, Wednesday, 25 September 2024

The World Bank would support Bangladesh through the Stolen Asset Recovery Initiative to help recover stolen assets.

This development was discussed during a meeting between the World Bank delegation and Anti-Corruption Commission Chairman Mohammad Moinuddin Abdullah.

This meeting took place at the ACC office on 24 September, involving a two-member team from the World Bank and lasting about an hour.

ACC Director General (Prevention) Akhtar Hossain said that the meeting included a thorough discussion on the Stolen Asset Recovery Initiative and the necessary collaboration for asset recovery.

He said that recovering laundered money relies on cooperation with the countries where the funds have been moved.

It was indicated that the World Bank intends to work with law enforcement agencies in those regions to support this effort, Akhtar said.

The discussions also covered ways to strengthen the ACC’s capacity to address these challenges.

The delegation reiterated their commitment to supporting efforts to prevent money laundering.

Akhter mentioned that they considered strategies for recovering assets that have been transferred overseas, along with potential training and capacity-building initiatives for ACC officials.

Earlier this month, ACC officials also met with representatives from the Federal Bureau of Investigation (FBI) and the United Nations Office on Drugs and Crime (UNODC) regarding money laundering.

The Stolen Asset Recovery Initiative is a collaborative effort between the World Bank Group and UNODC aimed at eliminating safe havens for corrupt funds on an international scale.