‘Do not be complicit in the crime of money laundering': Yunus tells world leaders at UNGA

“I propose the adoption and enforcement of strong international regulations to prevent the plunder of resources from developing countries and to ensure their return when stolen,” the chief advisor tells the UN

Chief Advisor Muhammad Yunus has urged the adoption of strong international laws to halt the outflow of illicit wealth from developing countries such as Bangladesh and ensure their recovery.

Speaking at the 80th session of the UN General Assembly in New York on Friday night, the Nobel laureate addressed world leaders for the second time as head of Bangladesh’s interim government.

He used the platform to highlight the government’s drive to recover wealth siphoned abroad during the Awami League’s 15 years in power, which ended with the August 2024 mass uprising. Former prime minister Sheikh Hasina fled to India after being toppled.

“Recovering the illicit assets stolen from our country is now one of our highest priorities,” Yunus told the Assembly.

“In the past fifteen years, billions of dollars were siphoned abroad through corruption. We are working tirelessly to bring this wealth back. Yet legal processes in the concerned countries and other obstacles are hurting our efforts. Without sincere political commitment from those countries, we will not be able to recover this asset.”

The chief advisor added that the global financial system had failed to prevent the illicit transfer of resources from developing nations, and in some cases, the rules of international institutions had “enabled the movement of vast sums of illegal money into tax havens around the world.”

Yunus issued a pointed appeal, saying: “I call upon those countries and institutions that shelter such stolen assets: do not be complicit in this crime. Return the wealth to its rightful owners — the farmers, the workers, and the ordinary taxpayers.”

He concluded by proposing the creation and enforcement of strict international regulations to stop the plunder of resources from developing countries and guarantee their return when stolen.

BILLIONS SIPHONED EACH YEAR UNDER HASINA

The interim government has opened dialogue with several international partners in pursuit of stolen funds, including the FBI, the UN Office on Drugs and Crime (UNODC), the European Union, the World Bank and the Asian Development Bank.

According to a white paper submitted to the chief advisor in December, an average of $16 billion a year was illicitly transferred abroad during Hasina’s rule.

The Anti-Corruption Commission has since held multiple rounds of talks with international agencies in an effort to trace and return these funds.