Investigation Unfolds: Bangladesh Seeks Financial Scrutiny of Treasury Minister Tulip Siddiq

The Bangladesh Financial Intelligence Unit (BFIU) has initiated an investigation by requesting banks to provide details of financial accounts and transactions associated with Treasury minister Tulip Siddiq. This inquiry follows allegations that she and her relatives, including her mother and aunt Sheikh Hasina, the former prime minister, were involved in embezzling approximately £3.9 billion from public infrastructure funds in Bangladesh. Siddiq’s spokesperson has refuted these claims, stating no evidence has been presented, while allies assert she possesses no offshore accounts and has not been approached by Bangladeshi authorities.

The allegations originate from Bobby Hajjaj, a political adversary of Hasina, who fled the country amid widespread protests against the incumbent government. The BFIU has officially requested account details not only from Siddiq but also from other family members including Sheikh Rehana and her children, signaling a broader scope of the investigation.

In response to recent scrutiny over her relationships with her aunt’s political affiliations, Siddiq voluntarily reported to a standards adviser within the prime minister’s office, asserting her innocence. As the investigation progresses, Prime Minister Sir Keir Starmer’s office confirmed that a fact-finding exercise will take place to establish if any further actions are warranted, with the findings expected to be made public. Starmer expressed his confidence in Siddiq’s abilities, underscoring her role in addressing financial crimes, including money laundering.