PM to seek UN support for recovery of laundered assets

Tarique to address the UNGA on 24 September

Prime Minister Tarique Rahman will seek stronger United Nations support in recovering money and assets laundered abroad, according to multiple officials at the foreign ministry.

In his address to the 81st session of the UN General Assembly (UNGA) in New York in September, Tarique is expected to call for stronger global cooperation and more effective international legal frameworks to facilitate the recovery of illicitly transferred assets.

A senior official, speaking on condition of anonymity, said Bangladesh would, for the first time, separately highlight money laundering and asset recovery in its UNGA address.

“Recovering laundered assets is extremely difficult without international cooperation. The premier will therefore call for stronger and more effective global collaboration,” he said.

The foreign ministry’s Legal Affairs Division has begun preparing the prime minister’s speech, writing to ministries and agencies on 26 July for information to be included in the address.

The 81st UNGA will open in New York on 8 September, while the high-level general debate involving heads of state and government will begin on 22 September.

Tarique is scheduled to arrive in New York on 21 September and address the UNGA on 24 September – his first appearance at the assembly and first visit to New York as the premier.

Another notable feature of this year’s session is that Foreign Minister Khalilur Rahman will serve as president of the General Assembly.

Foreign ministry seeks info from finance

The foreign ministry has also written to the Finance Division, seeking information. The Business Standard has obtained a copy of the letter.

The letter requests updates on the government’s efforts to combat money laundering, recover and repatriate illicitly transferred assets, strengthen international cooperation and mutual legal assistance under the UN Convention against Corruption, expand financial intelligence sharing through the Egmont Group, and curb illicit financial flows.

It also asks for details of action plans and achievements, including policy measures, implementation progress, challenges, future plans, and supporting data and documents.

According to the report of the White Paper Committee formed by the interim government, Bangladesh recorded about $234 billion in illicit financial outflows between 2009 and 2023.

Replying to a question in parliament on 22 April, the prime minister said the government had initially identified the US, the UK, Canada, Switzerland, Thailand, Singapore, Malaysia, the UAE, and Hong Kong, China, as key destinations for laundered funds.

He said recovering those assets was among his government’s highest priorities.

Sources said the prime minister’s speech would also cover the repatriation of Rohingya refugees from Myanmar, climate change, energy security, graduation from least developed country status, sustainable development, global peace, migrant workers’ rights, the country’s role in UN peacekeeping missions, and the government’s development agenda.

Addresses by Bangladeshi heads of government at the UN General Assembly have traditionally highlighted major global and national issues, including climate change, sustainable development, poverty reduction, UN peacekeeping, international cooperation, the Rohingya crisis, global economic inequality, good governance and anti-corruption.