Bangladesh, Aug. 2 -- Illicit financial flows from various countries to tax havens are now a reality. Over the decades, these flows have increased, and their diversification has troubled developing nations. Bangladesh is no exception. After the fall of Sheikh Hasina's authoritarian regime two years ago, the large-scale illegal transfer of assets by oligarchs also surfaced.

Illicit financial flows are illegal movements of money or capital from one country to another. Global Financial Integrity (GFI), a Washington-based think-tank, classifies the movement as 'an illicit flow when funds are illegally earned, transferred, and/or utilised across an international border.' Over the decades, several international organisations have estimated ill...