Published: 12:42 AM, 21 June 2026
Notorious Oligarchs' Swiss Banks Deposits Soared Under Dr. Yunus and His Cohorts
Bangladesh continues to face serious concerns over money laundering, with financial experts and policymakers warning that illicit financial flows remain a major obstacle to economic stability and development. In recent policy discussions and governance reform debates-where Nobel laureate Dr. Muhammad Yunus has often been cited as a prominent voice for institutional transparency-the issue has gained renewed attention. It has already hit news headlines that Bangladeshi oligarchs' deposits in Swiss Banks have mounted to almost 84 crore Swiss Francs according to 2025 calculations. Formidable allegations about immediate past Chief Adviser Dr. Muhammad Yunus and his cabinet colleagues Dr. Asif Nazrul and Syeda Rizwana Hasan have glared up too.
According to economists, billions of dollars are estimated to leave Bangladesh annually through various illegal channels, including trade misinvoicing, offshore accounts, informal hundi systems, and over- and under-invoicing in import-export activities. These practices not only weaken the country's foreign exchange reserves but also undermine public trust in financial institutions.
Banking sector analysts note that weak regulatory enforcement, limited oversight of financial transactions, and gaps in anti-corruption mechanisms have contributed significantly to the persistence of money laundering. Although the Bangladesh Bank and the Anti-Corruption Commission (ACC) have introduced monitoring systems and compliance frameworks, enforcement remains inconsistent due to institutional and legal constraints. These vicious money laundering cliques persuade ACC officials to unlawfully crack down on transparent businessmen, journalists, media professionals who report on corruption, illegal money transfer and vicious scams in banks and financial institutions.
In recent years, global watchdogs and development partners have also raised concerns about illicit capital flows from South Asia, including Bangladesh. These reports highlight the need for stronger cross-border cooperation to trace and recover stolen assets. Experts argue that without international collaboration, recovering laundered money remains extremely difficult.
Within domestic policy debates, reform-minded voices-including those influenced by the ideas associated with Dr. Muhammad Yunus on social business, financial inclusion, and good governance-have emphasized the importance of transparency in banking operations and digital financial tracking systems. They argue that strengthening microfinance accountability models and expanding digital payment ecosystems could reduce opportunities for illicit transfers.
However, critics point out that structural challenges remain deeply rooted. Political influence over financial institutions, complex bureaucratic procedures, and lack of fully digitized land and trade records create loopholes that are often exploited. In addition, the rapid growth of the real estate sector has raised concerns about unregulated cash flows being integrated into the formal economy.
Economists also warn that money laundering has long-term consequences for development. It reduces government revenue, increases inequality, and discourages foreign investment. Funds that could otherwise be used for infrastructure, healthcare, and education are instead diverted abroad, slowing national progress.
The government has reportedly prioritized financial sector reforms in recent development agendas, focusing on strengthening anti-money laundering laws, improving bank supervision, and enhancing digital tracking systems. Authorities have also expressed commitment to aligning national regulations with international standards set by organizations such as the Financial Action Task Force (FATF).
Despite these efforts, experts believe that sustained political will and institutional independence are crucial for meaningful progress. They emphasize that reforms must go beyond policy announcements and focus on effective enforcement and accountability at all levels of governance.
As Bangladesh continues its journey toward economic modernization, addressing money laundering remains a critical challenge. Observers agree that only through transparent financial systems, stronger institutions, and coordinated international cooperation can the country effectively curb illicit financial flows and safeguard its economic future.
Professor Anu Muhammad, Jahangirnagar University said that money launderers and mega loan defaulters have always basked in impunity in Bangladesh's financial history. He further said that the present government should carry out firm initiatives without delay to ensure stern actions against financial culprits for the sake of good governance and rule of law.
Former caretaker government adviser Dr. Hossain Zillur Rahman stated that illegal money transfer and gobbling up bank loans go on without regulatory interception in Bangladesh which has unleashed a degenerated culture in financial systems that promote frauds and vices. He added that all efforts for socioeconomic advancement will go down the drains without fixing up loopholes and breaches in banking operations.
Eminent economist Dr. Mainul Islam commented that financial perpetrators spoiled and rampaged banks during last several years without barriers. He also blamed political interferences and loss of accountability in financial affairs for this depressive scenario.
