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February 24, 2025

Bangladesh’s stolen billions: Europe and UK must act

Bangladesh’s ex-leader Sheikh Hasina and her entourage had nearly two decades to feather their nests before they were driven out of the country in a popular revolution last summer. Bangladesh’s new government says that nearly $248 billion (€237bn) was stolen by her and her cronies. Businesses linked to Hasina’s Awami League took out huge loans from state-owned banks that were never repaid. That cash was funnelled out of Bangladesh using the Hundi money transfer system. An investigation by the Observer and Transparency I...

People will not forgive us if Hasina evades justice

Bangladesh's interim government leader says he will not allow key figures from the ousted Sheikh Hasina regime to escape punishment. Muhammad Yunus told The National that the former prime minister and her senior officials would be sought out and returned home to face the full force of the law. The Nobel Peace Prize laureate was appointed chief adviser to the interim government last summer after Sheikh Hasina fled when her official residence was stormed by protesters. She had presided over one-party ru...

S&P warns of US withdrawal risk for World Bank

S&P Global has joined the list of leading credit rating agencies cautioning that an 'unprecedented' withdrawal by the United States from the World Bank and other major multilateral lenders could jeopardise their coveted triple-A credit ratings.

Last week, President Donald Trump signed an Executive Order mandating a six-month review of U.S. support for all international intergovernmental organisations to determine whether the country should withdraw from them o...

New Trump order delays legal proceedings against Adani Group

This week, US President Donald Trump paused enforcement of the 1977 Foreign Corrupt Practices Act (FCPA), a US law banning the bribery of foreign officials. While signing the order, Trump

WB reaffirms support for Bangladesh’s inclusive growth

The World Bank (WB) Vice President for South Asia, Martin Raiser, concluded his visit to Bangladesh today and reaffirmed the World Bank’s support for economic reforms critical for the country’s inclusive and sustainable growth and development. Raiser met with the Chief Adviser of the Interim Government, Professor Muhammad Yunus, and reiterated the World Bank’s commitment to the people of Bangladesh and offered continuous support to create the foundations for economic stability, job creation, climate resilience and improved public services...

Critical UN report must spur accountability, justice

Responding to the UN Fact-Finding report published yesterday which finds reasonable grounds to believe Bangladesh’s former Government and security apparatus systematically engaged in a range of serious human rights violations raising concerns as to crimes against humanity, Smriti Singh, regional director for South Asia at Amnesty International, said: “This 105-page UN report lays bare the scale and severity of the human rights violations committed by the regime led by the ex-prime minister Sheikh Hasina to ...
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