The interim government has seized assets plundered by 10 industrial groups, including the Sheikh family, worth approximately Tk 2 trillion, officials confirmed on Monday.

“The Chief Adviser instructed to form the looted money management fund, which will be used for public welfare," said Chief Adviser's Press Secretary Shafiqul Alam said in a news briefing in Dhaka after a meeting on the progress of recovering the laundered money.

Assets worth Tk 1,30,758 crore belonging to Sheikh Hasina and her family, along with the 10 industrial groups, have been attached. Additionally, foreign-linked assets worth $164 million (equivalent to Tk 2,000 crore in local currency) and movable properties worth Tk 42,614 crore are currently frozen. Movable assets worth Tk 253 crore ($20.7 million) have been seized abroad, according to him.

Speaking at the press briefing, Bangladesh Bank Governor Ahsan H Mansur said the fund will be created following the existing laws. "If necessary, the law will be amended to form the fund," he said.

Bangladesh Bank Governor said he hoped that it would be possible to create this fund within the tenure of the interim government but the elected government should continue it.

Mansur said the government will form the fund with money and assets seized from individuals accused of embezzlement. He said the seized money, which was looted from banks, will be handed over to the affected banks to compensate their depositors.

The central bank governor said the looted assets, which were accumulated through graft from non-banking channels, will be spent for the welfare of the poor people by forming this fund.

The frozen shares of various companies, which have bank loans, will be handed over to strategic investors, he said adding that before doing so, the government has to take temporary ownership of the shares to legalize the process.

“That is why we are going to take this legal step. The money that will come from new investors will be transferred to the banks through this fund,” he added.