Transparency International Chair François Valérian has said Bangladesh lost an estimated $16 billion annually in stolen public funds during the 15-year rule of the Awami League, fueling what he described as the global economy of corruption. He made the remarks during a three-day visit to Bangladesh, his first since being elected to lead the Berlin-based watchdog in 2023.
Valérian said the illicit financial outflows show how positions of power were used for private gain rather than public service. The stolen funds, he explained, often pass through offshore hubs like Dubai, Singapore and Hong Kong before ending up in countries such as the UK, France, the US, Germany and Switzerland. “Instead of serving the people, it fuels the global economy of corruption,” he said.
He called for greater transparency in beneficial ownership and stronger international cooperation. He noted recent success in the UK, where £185 million in assets linked to corruption were seized with the help of TI Bangladesh.
Valérian met with senior government officials and civil society leaders during the visit. He said the fight against corruption must continue in the post-uprising period, calling TIB “more indispensable than ever.”