Bangladesh has requested the UK’s help in investigating the alleged diversion of Tk2 trillion (£13bn) overseas, linked to associates of former Prime Minister Sheikh Hasina. The funds are suspected to have been siphoned from Bangladesh’s banking system.
"We sought the help of the UK, one of several countries where the Bangladeshi authorities believe diverted assets may be held,” Bangladesh Bank Governor Ahsan Mansur told Financial Times. He noted that other nations, including the US, Singapore, and the UAE, might also be involved in holding these assets.
According to Mansur, the UK government has shown significant cooperation. “The High Commissioner visited my office and offered substantial technical support,” Mansur said, particularly with regard to identifying the source of funds used to purchase a £150 million property portfolio in the UK, allegedly owned by a former land minister in Hasina’s administration.
Mansur emphasised that recovering these assets is a priority, and the Bangladeshi authorities are seeking UK assistance to trace and potentially repatriate the funds.
While the UK officials confirmed that a meeting took place, they declined to provide further details on the discussions.
Bangladesh’s strict currency controls limit citizens to transferring only a small amount of money overseas annually, raising questions about how such large sums were moved. Mansur commented, “A heist of this magnitude could not have occurred without the prime minister’s knowledge.” However, he noted that the investigation is still in its early stages.
The situation could become politically sensitive for Sir Keir Starmer’s Labour government in the UK, given that his City Minister, Tulip Siddiq, is the niece of Sheikh Hasina. There is no suggestion that Siddiq is involved in any wrongdoing, and she has not responded to requests for comment.
Chief Adviser Muhammad Yunus has also sought the UK’s help during a meeting with the UK’s high commissioner to Dhaka.
"The Bangladeshi government is committed to recovering money stolen and sent abroad,” Yunus' Press Secretary Shafiqul Alam said.
International scrutiny has intensified over the wealth of Hasina’s allies, particularly following an investigation by Transparency International UK.
The organization highlighted a British property portfolio worth more than £150 million, reportedly owned by entities linked to Saifuzzaman Chowdhury, the former land minister. Chowdhury served in the role from 2019 to 2024 and acquired at least 280 properties, mostly between 2019 and 2022, according to UK Land Registry data.
The properties include high-profile sites such as the Emerson Bainbridge House in Fitzrovia, central London, and 61 properties in Tower Hamlets, east London. Financing for these purchases remains unclear, though Companies House records suggest the use of mortgage debt.
Mohammad Ali Arafat, former State Minister of Information and Broadcasting, criticized the current government’s attempts to portray the situation as significant corruption. “They are trying to blame the former prime minister,” Arafat told Financial Times. “It’s good that this goes through due process, but they will have to prove it.”
