Recovering the money smuggled abroad
Monday, 1 October 2007
The Chief Adviser. Dr Fakhruddin Ahmed, called on the international community to assist Bangladesh in every possible way to bring back to the country the huge amounts of resources that the nexus of corrupt politicians-bureaucrats-businessmen and others smuggled out of Bangladesh over the years. Indeed, the recovery of such resources of one of the world's poorest countries has been a source of outrage to its people the majority of whom are not affluent and lead a simple and honest life of modest means. They would certainly be very pleased to learn that stolen money of the state or state's resources would be recovered and spent on their welfare and the country's development. The amount of such smuggled resources is estimated to be not a small one. Thus, there should be every incentive to work spiritedly for the recovery of such resources as the same would be a big boost for the national economy.
The Finance Adviser on return home on Saturday from the Philippines was asked by newsmen about the prospects of the successful getting back of the smuggled out money. He did not sound very optimistic in his response but rather cautioned that there should not be so much of expectation centred on this because, as he underlined, the process of recovering of such money is fraught with many frustrating procedures and blocking factors. The Adviser's words of caution are realistic and nothing irrefutable. But the nation would like to have more faith in his additional statement that his government remains steadfast in its aim and actions to get back the pilfered money. This is exactly what the nation wants to hear from those in charge of government today. If the resolve is there and if it is deep enough, then results would follow notwithstanding the slow pace of the same. Already, according to an admission of the Finance Adviser in a previous speech, an equivalent of Taka 3.5 billion has been recovered so far. This is not a bad start as no other government in the past could do this. Hopefully, by maintaining the enthusiasm, gradually a great deal of the resources can be recovered.
It is notable that the international climate is also improving fast in favour of such recoveries of resources. The World Bank and the United Nations have jointly drawn up a programme to facilitate the affected countries to this end. The World Bank President recently announced the launching of the programme standing side by side with the UN General Secretary that their organisations would take the initiative under this programme to facilitate the return to the countries of origin of the resources that had been illegally transferred abroad. Thus, the international climate for cooperation in this regard is improving and Bangladesh must make the most of it. Some countries had earlier, even without helpful international conventions, scored some successes in bringing back their transferred resources. It was, thus, respond that substantial amounts of ill-gotten money of the former first lady of the Philippines and ex-strongman Suharto of Indonesia were brought home to their respective countries. So was the case with a large amount of dollars that were transferred abroad by African dictator Abacha. Therefore, Bangladesh would require to do all the needful and stay determined in the course all the way. Furthermore, capacities and capabilities of the country's investigation bodies to specifically determine which resources were smuggled out and that these had origins in Bangladesh, would need to be improved at the soonest for the purpose.
The Finance Adviser on return home on Saturday from the Philippines was asked by newsmen about the prospects of the successful getting back of the smuggled out money. He did not sound very optimistic in his response but rather cautioned that there should not be so much of expectation centred on this because, as he underlined, the process of recovering of such money is fraught with many frustrating procedures and blocking factors. The Adviser's words of caution are realistic and nothing irrefutable. But the nation would like to have more faith in his additional statement that his government remains steadfast in its aim and actions to get back the pilfered money. This is exactly what the nation wants to hear from those in charge of government today. If the resolve is there and if it is deep enough, then results would follow notwithstanding the slow pace of the same. Already, according to an admission of the Finance Adviser in a previous speech, an equivalent of Taka 3.5 billion has been recovered so far. This is not a bad start as no other government in the past could do this. Hopefully, by maintaining the enthusiasm, gradually a great deal of the resources can be recovered.
It is notable that the international climate is also improving fast in favour of such recoveries of resources. The World Bank and the United Nations have jointly drawn up a programme to facilitate the affected countries to this end. The World Bank President recently announced the launching of the programme standing side by side with the UN General Secretary that their organisations would take the initiative under this programme to facilitate the return to the countries of origin of the resources that had been illegally transferred abroad. Thus, the international climate for cooperation in this regard is improving and Bangladesh must make the most of it. Some countries had earlier, even without helpful international conventions, scored some successes in bringing back their transferred resources. It was, thus, respond that substantial amounts of ill-gotten money of the former first lady of the Philippines and ex-strongman Suharto of Indonesia were brought home to their respective countries. So was the case with a large amount of dollars that were transferred abroad by African dictator Abacha. Therefore, Bangladesh would require to do all the needful and stay determined in the course all the way. Furthermore, capacities and capabilities of the country's investigation bodies to specifically determine which resources were smuggled out and that these had origins in Bangladesh, would need to be improved at the soonest for the purpose.