Law Minister: $234B Laundered from Bangladesh in 16 Years

Law Justice and Parliamentary Affairs Minister Advocate Md. Asaduzzaman stated that $234 billion has been illegally laundered from Bangladesh over the past 16 years severely crippling the nation’s economy.

Speaking as the chief guest at a training program for young lawyers at the Chittagong District Bar Association on Sunday the minister cited a Time magazine report to support his claim. He highlighted that an average of $16 billion was siphoned abroad annually frequently invested in foreign banks and overseas real estate enclaves like "Begumpara."

The minister condemned the institutionalization of corruption under the previous administration detailing how state funds were systematically looted through phantom development initiatives. As a stark example he pointed to a 3.5 billion taka Local Government Engineering Department (LGED) project in Pirojpur. While the funds were entirely exhausted on paper, no actual physical work was ever completed.

"The people's trust has been damaged," Asaduzzaman said, noting that state wealth was drained while citizens were deprived of public benefits.

He urged the judiciary lawyers and state institutions to collaborate in restoring the rule of law. Calling on young legal professionals to maintain absolute integrity he reiterated the government's commitment to building a transparent and accountable state by dismantling past cultures of looting.

The event, chaired by Chittagong District Bar Association President Tariq Ahmed was attended by key regional figures including Chittagong City Corporation Mayor Dr. Shahadat Hossain, alongside several district judges and magistrates.