Foreign auditors appointed to investigate embezzled funds from banks: Governor

To investigate the alleged embezzlement of $17 billion from various banks in Bangladesh during Sheikh Hasina’s government, the Bangladesh Bank has appointed three leading international auditing firms.

In an interview with 'The Financial Times, Bangladesh Bank Governor Ahsan H Mansur confirmed this on Sunday (January 26).

According to the report, Bangladesh’s central bank has enlisted the services of the "Big Four" accounting firms—EY (Ernst & Young), Deloitte, and KPMG—to examine the suspected embezzlement from the banking sector.

Governor Ahsan Mansur stated that the Bangladesh Financial Intelligence Unit (BFIU) has established 11 joint investigation teams. These teams will focus on tracking assets acquired with the misappropriated funds and assisting in legal actions against those responsible.

Financial Times reached out to EY and Deloitte for comments but did not receive any response outside of regular business hours. Efforts to contact KPMG through their website were also unsuccessful.

Governor Mansur disclosed that the investigation would also involve 10 prominent Bangladeshi businesses, along with former Prime Minister Sheikh Hasina and her family members.

He further revealed that over the past 15 years, under Hasina's rule and her Awami League government, approximately 2 trillion Bangladeshi Taka (around $16.46 billion) has been embezzled from the banks. He has now launched efforts to recover the stolen funds.