The Bangladesh Bank has enlisted the services of leading international accounting firms—EY, Deloitte, and KPMG—to conduct a thorough "asset quality review" of several banks from which $17 billion is believed to have been illicitly siphoned by individuals connected to ousted prime minister Sheikh Hasina, reports the Financial Times (FT).
In an exclusive interview with the Financial Times, Bangladesh Bank Governor Ahsan H Mansur said that the Bangladesh Financial Intelligence Unit (BFIU) has formed 11 joint investigation teams.
These teams are tasked with locating and reclaiming assets allegedly purchased with the stolen funds and prosecuting those responsible.
The ongoing investigation is scrutinising the financial activities of ten Bangladeshi businesses, in addition to Hasina and her relatives, according to Dr Ahsan H Mansur.
"The asset quality review will assess the performance of assets, identify non-performing assets, and determine their rightful owners," he explained, adding, "A simultaneous forensic audit will be conducted to uncover further details."
KPMG has confirmed that its Sri Lankan affiliate has been contracted to assist with the review.
However, neither EY nor Deloitte responded to requests for comment, as noted by the Financial Times.
As part of the investigation, former managing directors of the implicated banks have been instructed to take leaves of absence to ensure the integrity of the asset review process.
