BFIU asked to form research cell

The High Court (HC) on Wednesday ordered the head of Bangladesh Financial Intelligence Unit (BFIU) to form a research cell to prevent money laundering, bring back laundered money, monitor and control it.

HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat passed the order after fixing October 26 for next hearing.

BFIU head Md Masud Biswas was also directed to submit a progress report regarding the formation of Research Cell by the next hearing.

The court said only exchange of letters will not be effective to bring back the laundered money.

HC asked the BFIU head, “You must take necessary effective steps. You need to monitor this issue properly. You must have knowledge and sincerity to this effect. If India can do it, why can't we?”

The BFIU head appeared before the HC bench today (Wednesday) after being summoned on Tuesday.

He also offered unconditional apology for submitting an incomplete report regarding the information of money deposited by Bangladeshis to Swiss Banks that contains no name, address or position of the person who submitted the same, said Deputy Attorney General AKM Amin Uddin.

The court had observed that submitting such a report is like taking an action but without any responsibility,

DAG Amin Uddin and Assistant Attorney General Anna Khanam Koli represented the state while advocate Khurshid Alam Khan appeared for the ACC during the hearing.

On August 10, the Swiss ambassador in Dhaka Nathalie Chuard said that they have been providing the Bangladesh government with all information regarding deposits of Bangladeshi money in Swiss banks, "but no request has been submitted regarding any particular account".

On August 11, the HC bench ordered the government and the ACC to explain why the government didn’t seek info of deposits of Bangladesh money in Swiss banks.