By Asif Showkat Kallol (Dhaka Bureau)In an unprecedented effort to restore discipline to its financial sector and reclaim money laundered abroad, Bangladesh has launched an ambitious international legal campaign. Banks in the country have begun hiring world-renowned international law and professional services firms to trace and recover assets built overseas using billions of taka in unpaid loans. Highlighting the severity of the issue, Bangladesh Bank spokesperson Arif Hossain Khan stated that significant portions of defaulted loans appear to have been siphoned overseas. In a secondary phase, data from Bangladesh Bank’s Credit Information Bureau (CIB) was analyzed to flag 42 large defaulting corporate entities. To minimize upfront costs for domestic lenders, agreements with these international firms are structured on a contingency basis (“success fee” model).