The National Coordination Committee on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) has directed officials to expedite investigations into 11 priority money- laundering cases as Bangladesh also steps up preparations for its next international anti-money laundering assessment.
The priority cases involve the alleged laundering of billions of taka during the previous Awami League regime.
The committee's chairman and Finance Minister, Amir Khosru Mahmud Chowdhury, presided over the meeting held at the Bangladesh Secretariat on Thursday.
Sources said the meeting reviewed progress made since its previous session in December last year. It also issued directives aimed at accelerating the investigations and facilitating the recovery of laundered assets.
The cases involve several individuals and business entities, including former Prime Minister Sheikh Hasina and former Land Minister Saifuzzaman Chowdhury.
The investigations are being conducted by Joint Investigation Teams (JITs) formed to handle the cases.
According to sources, participants discussed the gaps and challenges affecting the investigations and explored measures to address them.
The meeting also reviewed Bangladesh's preparations for the next mutual evaluation by the Financial Action Task Force (FATF), the global body that leads efforts to combat money laundering, terrorist financing and proliferation financing.
A senior government official who attended the meeting told The Financial Express that the fourth-round mutual evaluation is scheduled for 2027.
As part of the preparation, Bangladesh will have to complete five separate risk assessments, including the National Risk Assessment.
The official said the reports are expected to be completed by December.
Of the five assessments, three will be prepared by the Bangladesh Financial Intelligence Unit (BFIU), one by the Ministry of Foreign Affairs and one by the Ministry of Home Affairs.
He added that the Egmont Group is scheduled to hold a virtual meeting with relevant Bangladeshi stakeholders in March next year.
The committee instructed all stakeholders to complete the necessary preparations for that engagement.
A pre-evaluation team is also expected to visit Bangladesh in the second week of August to meet members of the National Coordination Committee on AML/CFT.
According to sources, the finance minister directed all agencies concerned to intensify preparations to ensure Bangladesh is well positioned for the upcoming assessment and evaluation process.
He also instructed officials to expedite pending tasks, including completion of the third National Risk Assessment and the approval of the proposed Anti-Money Laundering Ordinance, 2025.
syful-islam@outlook.com