Assets worth Tk 760b of Sheikh Hasina’s family and 10 business groups frozen

Authorities have frozen assets worth Tk 760 billion belonging to former Prime Minister Sheikh Hasina, her family and 10 business groups in Bangladesh and overseas through court orders, according to Ikhtiar Uddin Mohammad Mamun, head of the Bangladesh Financial Intelligence Unit (BFIU).

Ikhtiar Uddin Mohammad Mamun disclosed the information today, Wednesday, while speaking at the launch of the BFIU's annual report at the Bangladesh Bank headquarters.

He said authorities had frozen assets worth Tk 570 billion within Bangladesh and Tk 190 billion abroad. However, he declined to disclose the value of assets frozen from each individual or business group.

The BFIU chief said, "We are working to recover the assets that were stolen from the country. We hope to share positive news on asset recovery by the end of this year."

Former Prime Minister Sheikh Hasina lost power on 5 August 2024 following the student-led mass uprising and subsequently left for India.

During the tenure of the interim government led by Professor Muhammad Yunus, authorities launched investigations into allegations of bribery, corruption, fraud, forgery, currency smuggling, tax and customs evasion, and money laundering involving Sheikh Hasina's family and 10 business groups.

The 10 business groups are S Alam Group, Beximco Group, Nabil Group, Summit Group, Orion Group, Gemcon Group, Nasa Group, Bashundhara Group, Sikder Group and Aramit Group.

The Criminal Investigation Department (CID) of the police, the National Board of Revenue (NBR) and the Anti-Corruption Commission (ACC) are conducting the investigations. The Bangladesh Financial Intelligence Unit (BFIU) is coordinating the overall effort.

During today, Wednesday’s event, a journalist asked why investigations and asset freezes often follow whenever a government leaves office, and whether individuals who served in the interim government would also face investigations.

Responding to the question, BFIU Head Ikhtiar Uddin Mohammad Mamun said, "When carrying out our work, we do not consider political affiliation or personal identity. We focus on the work itself. Banks freeze accounts whenever they detect suspicious transactions. It does not matter who carries out those transactions; the individual's identity is not our primary concern. If anyone from the interim government is involved, that will also come to light."