DHAKA, April 21, (V7N) — Finance Minister Amir Khasru Mahmud Chowdhury told the Jatiya Sangsad today that the government has initiated legal measures to recover assets allegedly laundered abroad by S Alam Group and Beximco Group.

Responding to a starred question from NCP lawmaker Md. Abul Hasnat (Cumilla‑4), the minister said the most important step in criminal proceedings is sending Mutual Legal Assistance Requests (MLARs) under the Mutual Legal Assistance in Criminal Matters Act, 2012 to the concerned countries.

He confirmed that MLARs have been sent to British Virgin Islands, Cyprus, Jersey and Singapore regarding S Alam Group, and to the United Kingdom and the United Arab Emirates regarding Beximco Group. A joint investigation team comprising the Anti‑Corruption Commission (ACC), CID, Customs Intelligence, and other agencies has already filed cases in Bangladeshi courts.

Alongside criminal proceedings, civil legal measures are also being pursued. “Four internationally reputed foreign law firms have been engaged to trace and identify assets abroad,” Khasru said. He cautioned that recovery is a complex and lengthy process, dependent on responses to MLARs, identification of assets, and proving money laundering in courts.

The minister noted that similar efforts in other countries have taken considerable time, adding: “It is not possible at this stage to determine how much money or assets can be recovered in the current or next fiscal year.” He assured lawmakers that “all possible legal efforts are underway and will continue.”

In his question, Hasnat highlighted that Islami Bank Bangladesh Limited has non‑performing loans amounting to Tk 92,115 crore, of which around Tk 80,000 crore is linked to S Alam Group, while Janata Bank has nearly Tk 25,000 crore in defaulted loans associated with Beximco Group.

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