UN Urges Interim Govt to Freeze and Seize Stolen Assets

The United Nations (UN) rights office has called on Bangladesh's interim government to take immediate action to freeze and seize assets linked to loan embezzlement and large-scale corruption. In its recent report, the UN's Office of the High Commissioner for Human Rights (OHCHR) urged the government to use existing laws to recover ill-gotten gains and hold wrongdoers accountable.

The OHCHR's Fact-Finding Report, titled "Human Rights Violations and Abuses Related to the Protests of July and August 2024 in Bangladesh," was released from its Geneva office on February 12. The report emphasized the need for close cooperation between Bangladesh and countries where stolen assets have been transferred, advocating for the immediate freezing, seizure, and repatriation of these assets through due process.

"Recipient countries should intensify efforts to scrutinize assets tied to politically exposed individuals," the report noted. Additionally, the OHCHR stressed the importance of enforcing anti-corruption laws rigorously, bringing all involved—particularly high-ranking officials, politicians, and influential business figures—to justice.

The UN body also highlighted the need to bolster the independence and effectiveness of Bangladesh's Anti-Corruption Commission (ACC), recommending that the commission be strengthened with greater legal staff and autonomy. It further called for improvements in institutions managing public finances to ensure transparency and accountability.

Addressing economic challenges, the OHCHR urged the government to take legislative and executive measures against cartels and oligopolies that undermine fair competition. The report also recommended repealing laws that favor large businesses and suggested policies to promote small and mid-sized enterprises, alongside a more equitable tax system focused on direct taxes, including income and wealth taxes.

In addition, the OHCHR called for enhanced protection of workers through amendments to the Labour Act, advocating for better conditions, particularly for women, fair wages, and stronger measures against anti-union discrimination and labor violations.

The UN body encouraged Bangladesh's government to extend standing invitations to UN Human Rights Council special procedures to support human rights reforms and ensure accountability for violations during the July 2024 protests. The OHCHR also called for further independent investigations to address abuses and prevent future violations.