Dhaka, March 11 -- Banks allegedly involved in illicit transfer of funds abroad have already appointed eight to ten international law firms as renewed efforts get underway repatriating the stolen money, bankers said after a review meeting Tuesday.

"These firms are currently handling legal cases in foreign courts in an effort to trace and recover the money," Association of Bankers, Bangladesh (ABB) chairman Mashrur Arefin told reporters after their meeting with the new governor of Bangladesh Bank.

Efforts to bring back money allegedly laundered abroad are currently underway through international legal channels, but the process could take between three and five years due to complex legal procedures, the ABB chief said.

Representatives of...