Dhaka, May 19 -- Bangladesh Bank Governor Ahsan H Mansur has announced a plan to establish a fund for the welfare of the people with the money confiscated from those who smuggled money abroad.

Speaking at the Foreign Services Academy on Monday, Mansur said he already had a word with the chief advisor on the matter.

"We also have different bank [accounts] and company shares belonging to those who have fled," he said.

"Therefore, there has been a discussion on how to create a fund with the remaining money and use it for welfare purposes after compensating the banks."

On the steps to seize these funds through legal processes, the governor said: "The chief advisor will visit London. Then he will take some steps to bring back the looted mo...