Cooperate with govt to check money laundering

FE REPORT

During one and a half decades of the Awami League government, a huge amount of money was laundered from Bangladesh, for which different stakeholders, including accountants, are responsible, said Foreign Affairs Adviser Md Touhid Hossain on Saturday.

Keeping this in view, he urged the accountants to collaborate with the government to ensure that such practices do not recur, he said.

"We all are aware that for 15 years, an enormous amount of money has been siphoned off from our country. Much of it was what I would describe as bank robbery in broad daylight," he said. "But a significant portion was also the result of manipulation of accounting. With so many top accountants of the country before me, I would urge your collaboration so that this doesn't happen in the future and we can come back to a different path."

He made the remarks while speaking as the chief guest at the opening session of South Asian Federation of Accountants (SAFA) International Conference 2026, organised by the Institute of Chartered Accountants of Bangladesh (ICAB) at a city hotel.

The conference was themed "Next Generation Profession: Converging Ethical AI and Sustainability Reporting." Delegates from Afghanistan, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka took part in the event, which featured three technical sessions and a valedictory session.

Addressing participants from home and neighbouring countries, the foreign affairs adviser further said that AI and digital tools are transforming lives across nearly every sphere. "We are living in an era of rapid technological advancement, where artificial intelligence and digital innovation are reshaping professions across the globe.

Issues like sustainability, transparency, and ethical practices in business and governance are becoming important across the globe, and these are equally critical for Bangladesh, he said. "Our pursuit of economic growth and deeper global integration requires that our professionals remain not only technically proficient, but also ethically grounded and socially responsible," he added.

Bangladesh Competition Commission Chairperson AHM Ahsan and Chairman of the Financial Reporting Council (FRC) Bangladesh Dr. Md Sajjad Hossain Bhuiyan attended the conference as special guests.

For the first time in Dhaka, ICAB hosted Jean Bouquot, President of the International Federation of Accountants (IFAC)-the world's apex body of the accounting profession-along with Ashfaq Yousuf Tola FCA, Adviser of the South Asian Federation of Accountants (SAFA), as guests of honuor.

ICAB President NKA Mobin FCA delivered the address of welcome, while Muhammed Farhad Hussain FCA, Past President of ICAB and Chairman of the Conference Organizing Committee, also spoke.

In his speech, Mr AHM Ahsan said technological advancement presents both opportunities and challenges. He observed that AI-driven systems can boost efficiency, strengthen compliance, and foster innovation.

However, without strong ethical frameworks, AI also poses risks such as algorithmic collusion, market dominance abuses, opacity, and exclusionary practices. He suggested that AI be adopted with caution to ensure that Bangladesh can fully and responsibly harness its benefits.

Speaking on the occasion, Mr. Bouquot underscored the need for more transparency in financial disclosure while adoption of AI could enable professionals to deliver services efficiently. He also emphasised the global relevance of the discussions and their potential to shape the future of the profession, particularly in sustainability reporting, ethical AI, and next-generation professional practices.

ICAB President NKA Mobin said this journey is about leading change. "As we navigate ethical AI and sustainability reporting, let our timeless foundation of integrity, objectivity, and public service guide us. The world needs ethical, competent, and forward-thinking accountants now more than ever," he added.

The keynote was delivered by Adeeb Hossain Khan, Past President of ICAB and Senior Partner at Rahman Rahman Huq, Chartered Accountants.

Mr. Khan emphasised that the adoption of AI in sustainability reporting is "no longer a distant concept, but a structural shift already influencing how economic value is created, measured, and disclosed."

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