The United Kingdom has frozen more than £250 million in assets linked to associates of former Prime Minister Sheikh Hasina as of mid-2025, in what officials describe as a major step in tackling illicit financial flows. However, British authorities have cautioned that repatriating the illicit fund to Bangladesh will require time due to legal complexities.
The frozen assets are connected to several high-profile Bangladeshi figures, including former land minister Saifuzzaman Chowdhury and members of the family of Salman F Rahman of the Beximco Group.
Speaking at a “DCAB Talk” event organised by the Diplomatic Correspondents Association, Bangladesh, British High Commissioner Sarah Cooke said the asset freeze reflects London’s commitment to supporting Bangladesh in recovering illicit wealth.
“We’ve frozen £250 million in assets since June last year, but of course it will take time to return the assets,” she said.
Cooke emphasised that asset recovery remains a “high priority” for the UK, with both countries working closely over the past 18 months to two years. She described the freeze as a “strong demonstration” of the UK’s determination to uphold the rule of law and safeguard the integrity of the international financial system.
However, she noted that repatriation is a lengthy process that must follow due legal procedures and be supported by robust, evidence-based cases in UK courts. To facilitate progress, “expert-to-expert” technical discussions between British and Bangladeshi authorities are ongoing.
As part of broader efforts to combat illicit finance, the UK is set to host an international summit in London aimed at strengthening global cooperation. Cooke expressed hope that Bangladesh’s Finance Minister Amir Khasru Mahmud Chowdhury will attend the gathering.
High-profile AL leaders under scrutiny
The UK’s National Crime Agency (NCA) has played a central role in the asset freezes, targeting wealth linked to figures associated with the former Awami League government following its removal from power in August 2024.
Investigators have frozen between £170 million and £185 million in UK real estate tied to Saifuzzaman Chowdhury and his family. The portfolio reportedly includes more than 340 properties, among them a luxury residence in St John’s Wood valued at £11 million and an apartment block in Fitzrovia worth £12.65 million—making it one of the largest individual asset freezes in the NCA’s history.
Separately, nearly £90 million worth of high-end properties linked to Salman F. Rahman’s family have also been frozen. These include a £35 million apartment in Mayfair’s Grosvenor Square, along with other properties in prime London locations such as Gresham Gardens.
The actions stem from civil investigations into alleged money laundering and unexplained wealth involving former political allies of the ousted government.
Bangladesh is currently working with UK authorities and international legal firms to pursue the repatriation of the frozen assets, though officials acknowledge that the process is likely to be lengthy and legally complex.
