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Writ to move foreign reserves out of the US to a safe country

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May 31, 2023 9:26 am
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DHAKA BUREAU: A writ has been filed seeking directions to move Bangladesh’s foreign reserves from the United States to safe countries. On Tuesday (May 30), in the relevant branch of the High Court, Advocate Md. Mahmudul Hasan filed this writ.

He confirmed that he had filed the writ on Wednesday (May 31). In the writ, the Secretary of the Ministry of Finance, the Secretary of the Ministry of Foreign Affairs, the Governor of Bangladesh Bank, and the Chairman of the Public Service Commission have been made defendants.

Advocate Md. Mahmudul Hasan said, I have filed the writ petition in the public interest to protect the people of Bangladesh from dire calamities in the near future.

The writ petition states that the United States is the most powerful country in the world. After the collapse of the Soviet Union in 1991, the United States is now the world’s only superpower. The United States has the power to destroy the economy and infrastructure of any country in the world. When the US wants to control a country, it uses military force, sanctions, or both. The US has destroyed many countries, including Afghanistan, Iraq, Syria, and Vietnam, and killed billions of people by using its military power.

Apart from that, the economies of many countries, including Iran, Russia, Cuba, North Korea, Iraq, Sudan, and Venezuela, have been destroyed by the application of sanctions. At present, multifaceted international conspiracies have spread over Bangladesh. As a result of the conspiracy, Bangladesh has unfortunately become a target for the United States. Due to this, the United States has banned Bangladesh’s elite force, RAB.

Although there are some controversial activities of RAB, its contribution to protecting the rule of law and suppressing drug and human trafficking in Bangladesh is immense. On the other hand, on May 24, the United States intervened in the internal affairs of Bangladesh and announced a new visa policy, which is more serious than the ban. Political leaders, government officials, and learned judges have been targeted through the said visa policy.

The writ petition also said that there is a lack of experienced politicians in international politics in Bangladesh. On the other hand, most of the government officials who are employed in the foreign ministry and embassies of Bangladesh do not have honors or master’s degrees on the subject of ‘international relations’. As a result, these government officials are not able to contribute properly to protecting the interests of Bangladesh in international politics. Bangladesh is one of the most peaceful countries in the world. Following Article 25 of the Bangladesh Constitution, Bangladesh continues to maintain peaceful coexistence with the outside world. But Bangladesh has unfortunately become the target of the US as part of a global conspiracy. It is a long-standing practice of the United States to freeze the foreign reserves of a country when it becomes a target of the United States.

The US has already seized the foreign reserves of many countries and crippled their economies. In the current situation, there is a possibility that the foreign reserves of Bangladesh may be seized by the United States under any pretext in the near future. Most of Bangladesh’s foreign reserves are deposited at the Federal Reserve Bank of the United States. Bangladesh Bank manages foreign reserves under the powers given in Section 7 (A) and (D) of Bangladesh Bank Order 1972.

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