Reserve heist: AL govt ordered not to name BB staff in chargesheet
The Awami League government had instructed the Criminal Investigation Department (CID) not to include the names of central bank officials in the chargesheet related to the infamous Bangladesh Bank reserve theft, revealed Law Adviser Dr Asif Nazrul.
He came up with the information during a press briefing on contemporary issues at the ministry on Sunday (April 13).
Asif Nazrul disclosed that there was an audacious plan to steal $2 billion from Bangladesh Bank, though the culprits ultimately managed to siphon off $88 million. He described the incident as a grave financial crime and a massive conspiracy targeting Bangladesh’s economy.
Asif Nazrul said, "Today, we held a review committee meeting. A staggering $88 million was hacked and stolen from Bangladesh Bank through scams. It was a direct looting of Bangladesh Bank."
He emphasised the gravity of the situation, saying, "Imagine if $2 billion had been stolen—our nation would have faced near-famine conditions today."
Out of the stolen $88 million, approximately $66 million remains unrecovered, he said highlighting the scale of the loss.
The adviser revealed that multiple investigation committees were formed to probe the money heist, with trials already underway abroad. However, he accused the previous government of politicising the case during its tenure.
"When the CID investigation reached a mature stage, specific instructions were given to exclude the names of Bangladesh Bank officials involved in the chargesheet," Nazrul said. "This is how the instructions were given, and we were informed about it today."
To address the shortcomings and ensure accountability, the government has established a high-level review committee chaired by Asif Nazrul himself. The committee includes key figures such as the Energy Adviser, the Governor of Bangladesh Bank, and other members.
During its first meeting at Bangladesh Bank, the committee reviewed the findings of a report by Mohammed Farashuddin and took several decisions:
1. Recovery of Remaining Funds: The committee will focus on accelerating efforts to recover the remaining $66 million.
2. Accountability of Bangladesh Bank: The committee has asked Bangladesh Bank to assess whether adequate measures have been taken to prevent similar crimes in the future.
3. Role of IT Expert Faiz Ahmed Tayyab: The Special Assistant to the Chief Advisor on IT, Faiz Ahmed Tayyab, has been appointed as the member secretary of the review committee. He will scrutinise actions taken against individuals named in earlier reports, including those from the CID and Mohammed Farashuddin’s investigation.
Asif Nazrul also announced plans to investigate the role of a legal firm hired during the previous government’s tenure. This firm, which charged exorbitant fees (including Tk 8 lakh recently), was reportedly represented by a senior lawyer closely associated with the then-government.
"Why was this firm selected? What was the role of the government-friendly lawyer behind this decision? We will investigate potential financial irregularities and anomalies,"* he asserted.
The committee also plans to evaluate how ongoing investigations in Bangladesh might impact the trial proceedings in New York. For legal guidance, they will consult the firm of jurist Dr Kamal Hossain.
The review committee aims to complete its work within three months. Another meeting is scheduled in two weeks to assess progress.
When questioned about the number of people implicated in the Bangladesh Bank scandal, Asif Nazrul referred to Mohammed Farashuddin’s report, which lists several names. Additional names have surfaced in various investigative reports, indicating widespread involvement.
