(BSS) - Bangladesh Bank Governor Ahsan H Mansur has said it is quite possible to freeze the money and assets laundered abroad from Bangladesh within a year if the process can be expedited.

"Generally four to five years are required to complete the legal procedures to bring back the laundered money. But some intermediate measures like freezing the assets could be done,” he said adding “it may take one year or less than one year time.”

BB Governor said this at a press briefing at Foreign Service Academy here this afternoon after a meeting on the progress of recovering the laundered money.

The meeting was held at the State Guest House Jamuna with Chief Adviser Professor Muhammad Yunus in the chair.

Mansur said, “To do so, the legal procedures must be completed in Bangladesh and then the mutual legal assistances (MLAs) should be sent abroad in proper way.”

“We are on this process now. We are sending the request. And if we get this assistance of foreigners, we will be able to freeze the laundered assets,” he said.

He said once the assets are frozen, the legal process will begin in court abroad, which requires four to five years to complete.

The government has already communicated with many foreign institutions seeking their support in returning the laundered money to the country, he noted.

He said the government is sending MLAs to different countries seeking to freeze the money siphoned off from Bangladesh.

Bangladesh Bank governor said today’s meeting discussed management of seized money deposited in different banks and seized shares of many banks and companies.

He said they also discussed how the interest of the depositors is protected as money was looted from banks.

The central bank governor said Chief Adviser Professor Muhammad Yunus will visit to the United Kingdom and he will focus the money laundering issue during his tour, which was also discussed today.

Chief Adviser`s Press Secretary Shafiqul Alam was present, among others, during the briefing.