Chief Adviser Professor Muhammad Yunus has called upon countries and financial institutions that shelter illicit wealth to return stolen assets to developing nations, warning that billions looted from Bangladesh over the past decade remain stuck abroad.

Recovering the illicit assets stolen from our country is now one of our highest priorities. In the past fifteen years, billions of dollars were siphoned abroad through corruption. We are working tirelessly to bring this wealth back, Yunus said in his address at the 80th UNGA in New York on Friday.

He said Bangladesh’s efforts face legal and procedural hurdles in other countries.

Without sincere political commitment from the countries concerned, we will not be able to recover this asset,he cautioned.

The Chief Adviser criticised the current global financial system for failing to prevent the illicit transfer of resources from developing nations, and in some cases, even enabling such outflows.

The very rules of international financial institutions have facilitated the movement of vast sums of illegal money into tax havens around the world, he said.

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,” Yunus urged.

He proposed adoption and enforcement of strong international regulations to prevent plunder of resources from developing countries and to ensure their return when stolen.

Alongside asset recovery, Yunus pressed for reforms in global economic governance, including an inclusive framework for international tax cooperation, coordinated measures against illicit financial flows, and stronger cooperation for recovery of stolen wealth.

Just as Bangladesh is striving to implement reforms in line with the Sevilla Commitment adopted at the FFD4 Conference, we hope that the developed world will also honor their responsibilities under that collective pledge,” he added.V