Dhaka, Oct. 29 -- Businessman Saiful Alam, alias S Alam, has filed an arbitration case against Bangladesh's interim government at the World Bank, reports Financial Times.

He claims the authorities' measures to recover laundered money have caused "hundreds of millions of dollars" in losses to his family businesses.

According to the Financial Times report, lawyers representing the Alam family lodged the arbitration request on Monday with the International Centre for Settlement of Investment Disputes.

They alleged that the government led by Muhammad Yunus has carried out a "targeted campaign" to seize assets, freeze bank accounts and destroy the market value of their companies.

The case is seen as a significant setback to the interim gov...