UK-Bangladesh Work to Recover Laundered Money

British High Commissioner Sarah Cooke confirmed on Tuesday that the UK is actively collaborating with Bangladesh to recover laundered assets and stem the flow of illicit finance. Speaking at the ‘DCAB Talk’ at the National Press Club, Cooke revealed that the UK has already seized assets worth £250 million, signaling a firm commitment to asset recovery.

Addressing the delays in returning laundered money, the High Commissioner emphasized that asset recovery is a complex legal journey. "Due legal process must be followed in every case. It requires a robust evidence base, which takes time," she explained. She noted that technical experts from both nations have been in regular discussions for two years to navigate these legalities.

The High Commissioner highlighted the UK’s role as a key partner in Bangladesh’s structural reforms, working alongside the Bangladesh Bank, the National Board of Revenue (NBR), and the Ministry of Commerce.

On democracy, Cooke noted the UK’s historical support for the Election Commission and governance initiatives. Regarding the 'July Charter' and post-election reforms, she maintained a diplomatic stance: "It is the responsibility of the Parliament to determine the course of action. The international community does not comment publicly on internal legislative priorities."

Discussing the political climate following the events of July 2024, Cook welcomed the government’s commitment to establishing a ‘Truth and Healing Commission.’ She described it as a vital step toward justice and accountability for past abuses.

When asked about competition with US trade agreements, Cooke pivoted to the strength of the UK-Bangladesh partnership, focusing on increasing Bangladeshi exports to provide UK consumers with quality goods at competitive prices. She also touched upon the Airbus deal, framing it as a strategic partnership to help Bangladesh achieve its goal of becoming a regional aviation hub.