UK reaffirms commitment to Bangladesh’s financial sector reform, asset recovery

The United Kingdom (UK) on Thursday reaffirmed its strong commitment to supporting Bangladesh in modernising its financial sector, strengthening governance, and recovering laundered assets during a meeting between British High Commissioner to Bangladesh Sarah Cooke and Bangladesh Bank (BB) Governor Md Mostaqur Rahman.

The meeting, held at the Bangladesh Bank headquarters in the city, focused on expanding bilateral cooperation in financial reforms, institutional capacity building, and technological modernisation of the central bank, read a press release.

High Commissioner Cooke reiterated the UK government’s commitment to helping the Bangladesh Bank transform into a modern, technology-driven, and resilient central bank capable of meeting emerging global financial challenges.

The UK side emphasised continued cooperation in several priority areas, including the modernisation of payment systems, human resource development, and the implementation of key financial sector reforms, such as the Bank Resolution Act.

A key focus of the discussions was combating money laundering and accelerating efforts to recover assets illegally transferred abroad.

Both sides agreed to strengthen collaboration with relevant UK authorities to trace, identify, and repatriate stolen assets.

The British high commissioner also discussed cooperation ahead of the upcoming Financial Action Task Force (FATF) Mutual Evaluation, underscoring the UK’s support for Bangladesh’s efforts to align with international standards on anti-money laundering and financial transparency.

The meeting further highlighted joint initiatives to prevent illegal migration and visa fraud, including digital verification of bank statements submitted during visa processing.

Governor Mostaqur Rahman thanked the UK for its continued support to Bangladesh’s development and financial sector modernisation efforts.

He reaffirmed the central bank’s commitment to ensuring good governance and building a cashless society through a stronger digital payment ecosystem.