By Asif Showkat Kallol (Dhaka Bureau)
In one of the most sweeping financial crackdowns in South Asian history, Bangladesh authorities have frozen and attached assets worth approximately Tk 76,000 crore (around USD 6.4 billion). The massive asset seizure is linked directly to ousted former Prime Minister Sheikh Hasina, her family, and ten prominent industrial conglomerates accused of siphoning billions from the nation’s financial system during the Awami League’s 15-year rule.
The revelation was made on Wednesday, July 15, 2026, by Iqtiaruddin Md. Mamun, the head of the Bangladesh Financial Intelligence Unit (BFIU), during a press briefing at the Bangladesh Bank headquarters. The event marked the official release of the BFIU’s annual activities report for the 2024-25 fiscal year, which recorded an unprecedented surge in suspicious financial activity across the country.
Inside Bangladesh’s Largest Asset Recovery Operation
According to BFIU Chief Iqtiaruddin Md. Mamun, the frozen wealth spans both domestic and international jurisdictions, authorized under strict court mandates:
* Domestic Assets Frozen: Tk 57,000 crore (Tk 570 billion) held inside Bangladesh.
* Offshore Assets Frozen: Tk 19,000 crore (Tk 190 billion) traced and blocked in foreign accounts.
The crackdown is spearheaded by a high-level joint task force consisting of the BFIU, the Anti-Corruption Commission (ACC), the Criminal Investigation Department (CID) of police, and the National Board of Revenue (NBR). Thus far, 98 lawsuits have been filed in connection with 11 primary money-laundering cases.
High-Profile Conglomerates Under the Microscope
The joint investigation has targeted the family of Sheikh Hasina- who fled the country in August 2024 following a student-led mass uprising—alongside ten major business groups that dominated the national economy under her tenure. These conglomerates include:
* S Alam Group, Beximco, Summit, Bashundhara, and Nabil Group.
* Orion, Nassa, Premier Group (Dr. HBM Iqbal), Sikder Group, and Aramit Group (linked to former Land Minister Saifuzzaman Chowdhury Javed).
A 74% Surge in Suspicious Transactions
The political transition of late 2024 sparked intense domestic oversight, triggering a dramatic spike in flagged financial anomalies. The BFIU’s annual report revealed a historic milestone:
* 30,199 Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs) were recorded in the 2024-25 fiscal year.
* This represents a 74% increase compared to the previous fiscal year.
* 95% of these alerts originated from the banking sector, exposing deep systemic vulnerabilities and intensified post-regime scrutiny.
‘When carrying out our work, we do not consider political affiliation or personal identity,’ BFIU Head Mamun told reporters, responding to questions about the agency’s independence. ‘We focus on the work itself. If anyone from the current interim government is involved in illicit transactions, that will also come to light.’
The Road to Repatriation
While freezing assets domestically is a swift legal maneuver, repatriating billions of dollars stashed abroad remains a notoriously complex legal hurdle. Bangladesh authorities are actively engaging foreign financial intelligence units, global law enforcement, and international asset recovery firms to navigate foreign legal frameworks.
BFIU officials expressed strong optimism regarding the ongoing international cooperation, promising ‘visible progress and positive news’ regarding the repatriation of stolen national wealth by the end of this year.
As Bangladesh rebuilds its financial institutions under transitional watch, this monumental recovery process stands as a litmus test for the nation’s fight against deep-seated kleptocracy and financial impunity.
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The Writer:
Asif Showkat Kallol: Works for the German-based online outlet The Mirror Asia as Head of News and is a Contributor at Pressenza-Dhaka Bureau.
