Bangladesh Bank (BB) Governor Dr Ahsan H. Mansur has revealed that commercial banks in the country have formalised agreements with international legal consortiums to pursue civil litigation against money launderers who have fled abroad.
Speaking at the launch of the monetary policy statement for the second half of the current fiscal year (FY26) at BB headquarters on Monday, Dr Mansur confirmed that a total of 12 global consortiums, comprising specialised law firms and litigation companies, are now working with Bangladeshi banks to trace and reclaim illicit funds.
“From what I am aware, the majority of banks have signed nondisclosure agreements with these consortiums to initiate civil cases rather than criminal proceedings. The primary objective is to recover stolen or laundered assets that have been transferred to foreign jurisdictions,” he stated.
The decision reflects a growing concern among regulators and financial institutions over the increasing sophistication of cross-border money laundering networks. By partnering with international legal experts, banks hope to expedite the recovery process, which often involves navigating complex legal frameworks in multiple countries.
Dr Mansur emphasised that these efforts form part of a broader strategy to strengthen financial governance and enhance the transparency and accountability of the banking sector. “While criminal prosecutions are crucial, civil litigation provides a more direct avenue to reclaim funds, particularly when the accused are beyond the reach of local law enforcement,” he added.
The consortiums engaged in these agreements offer specialised expertise in areas such as asset tracing, cross-border litigation, and recovery enforcement. Their collaboration with Bangladeshi banks is expected to significantly improve the chances of reclaiming substantial sums of money lost to international financial crimes.
Summary of Bank-Consortium Agreements
| Parameter | Details |
|---|---|
| Number of consortiums involved | 12 |
| Type of cases pursued | Civil litigation only |
| Parties involved | Commercial banks & international law firms |
| Objective | Recovery of laundered or absconded funds abroad |
| Legal focus | Asset tracing, cross-border enforcement, litigation |
Dr Mansur concluded that while the process may be lengthy, these agreements mark a significant step in protecting the integrity of Bangladesh’s banking system and deterring future financial misconduct.