Yunus seeks Singapore support to recover laundered money

Chief Adviser Muhammad Yunus today called on Singapore to assist Bangladesh in recovering billions of dollars laundered out of the country and help lower the cost of migrant labour recruitment.
His appeal came during a meeting with Singapore’s Ambassador to Bangladesh, Derek Loh, at Yunus’s Tejgaon office in Dhaka.
“A lot of money was siphoned off from Bangladesh to many countries, including Singapore,” Yunus told ambassador Loh.
“We need full cooperation from Singapore,” he added.
Ambassador Loh pledged Singapore’s support in assisting Dhaka with this issue.
During their hour-long meeting, Yunus also urged Singapore to collaborate with Bangladesh on reducing recruitment costs for Bangladeshi migrant workers, which would enable them to remit more earnings back home.
He proposed establishing a model framework with Singapore to make migration more affordable.
Ambassador Loh recommended that Bangladesh digitise its recruitment system to curb human trafficking risks and worker exploitation.
Trade, investment, shipping, education, and healthcare were also discussed, alongside Bangladesh’s recent economic recovery and its business-friendly environment.
Professor Yunus said Bangladesh was now ready for business with the economy making a good recovery just three months after the dictatorship left it in shambles.
“It is a good time to do business here,” he added.
The prospect of a Free Trade Agreement (FTA) between the two nations was also raised by Singapore’s Ministry of Trade and Industry.
Singapore offered expertise in water treatment and waste energy management, with Loh proposing food agency collaboration between the nations.
On foreign policy, Yunus emphasised Bangladesh’s commitment to fostering strong relations with its neighbours and reviving the South Asian Association for Regional Cooperation to boost regional cooperation.
He requested Singapore’s support for Bangladesh’s potential inclusion as an ASEAN sectoral dialogue partner, to which Loh responded positively.
“We don’t distinguish between east and west. We have to build bridges everywhere,” the chief adviser said.
The meeting was attended by Lutfey Siddiqi, special envoy to the chief adviser; Lamiya Morshed, senior secretary and SDG affairs coordinator; and Michael Lee, charge d’affaires of Singapore in Dhaka.