Dhaka, Oct. 6 -- Bangladesh Bank (BB) has instructed all commercial banks to immediately sign agreements with 12 international asset recovery and law firms to launch a coordinated effort to repatriate money laundered allegedly by former prime minister Sheikh Hasina, her family members, and several major industrial groups.

The directive was given on Monday during a meeting with managing directors of 32 commercial banks with Bangladesh Bank Governor Dr. Ahsan H. Mansur in chair, said Managing Director and CEO of Islami Bank Bangladesh PLC Omar Faruk Khan.

All banks will engage the international law and asset recovery firms to trace and bring back the laundered money, he said.

"Some banks will act as lead banks, forming consortia with oth...