Writ seeks transfer of BD's forex reserves from US

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Writ seeks transfer of BD's forex reserves from US​

Writ seeks transfer of BD's forex reserves from US

A writ petition has been filed with the High Court seeking its directive to transfer foreign-exchange reserves of Bangladesh from the US Federal Reserve Bank to any other 'safer' country. Md Mahmudul Hasan, a Supreme Court lawyer, filed the writ petition on Tuesday as a public-interest litigation.

thefinancialexpress.com.bd

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Published :
May 31, 2023 10:58 PM
Updated :
May 31, 2023 11:00 PM
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A writ petition has been filed with the High Court seeking its directive to transfer foreign-exchange reserves of Bangladesh from the US Federal Reserve Bank to any other 'safer' country.

Md Mahmudul Hasan, a Supreme Court lawyer, filed the writ petition on Tuesday as a public-interest litigation.

The finance secretary, foreign affairs secretary, Bangladesh Bank Governor and chairman of Bangladesh Public Service Commission were made respondents to the petition.

Bangladesh has become a target of the United States as part of multifaceted international conspiracies, the lawyer said in the petition.

The US imposed sanctions on RAB despite its immense contribution to upholding the rule of law and efforts to combat human trafficking and drugs, he added.

The petition also referred to the announcement of the US new visa policy targeting political leaders, and civil and judicial officials of Bangladesh.

In this context, the petitioner said, Bangladesh Bank has deposited most of its foreign exchange reserves with the Federal Reserve Bank of the United States.

The lawyer said Bangladesh's economy will collapse if foreign exchange reserves are seized by the US on any grounds in the near future.

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