CA orders creation of fund to manage recovered looted assets

Chief Adviser Professor Muhammad Yunus has directed the authorities to create a dedicated fund to manage recovered looted assets and laundered money, with the proceeds to be used for public welfare.

“The Chief Adviser has instructed the formation of a looted money management fund, which will be used for the benefit of the public,” said Chief Adviser’s Press Secretary Shafiqul Alam at a press briefing held at the Foreign Service Academy on Monday (May 19) afternoon.

The directive came during a high-level meeting on the recovery of laundered money, chaired by the Chief Adviser at the State Guest House Jamuna in Dhaka.

Bangladesh Bank Governor Ahsan H Mansur, who was present at the briefing, said the fund would be established in accordance with existing laws.

“If necessary, legal amendments will be made to facilitate the creation of this fund,” he added.

Governor Mansur expressed hope that the interim administration would be able to establish the fund during its tenure but emphasized that the next elected government should ensure its continuation.