Opening
OpeningBefore she comes backThe record in order01Elections02Disappearances03Pilkhana & Shapla Square04July–August 202405Media and courts06Banks07Rooppur08Megaprojects09Power and energy10Money laundering11The numbers12Accountability13The responseConclusion

The Hasina Years

2009
2014
2018
2024
Sheikh Hasina in profile, head bowed (cut-out)

Fifteen and a half years in power: the elections, the disappearances, the July 2024 killings, the banks, the power plants and Rooppur. Who did what, and what has happened to them since.

By Nutshell Today2 Nov 2026
Scroll↓
Before she comes back

Sheikh Hasina says she is coming home.

She has lived in India since she fled Dhaka on 5 August 2024. If she does return, many readers will want to know exactly what happened during her 15 and a half years in power, and who did it.

On 19 October 2026, speaking by video to a Washington audience, she repeated a promise first made in July. This report puts the record in one place, and in every section names the people, firms and agencies involved and says what has happened to them since.

“I will go back to Bangladesh in December. I am not afraid.”
The Swipe Up · 20 Oct 2026
“Now, I am ready to die for the people of my country.”
The Week · 5 Oct 2026
“They may arrest me on my return, they may even kill me. Still, I have to go.”
Al Jazeera, to Reuters · 10 Jul 2026
Where Hasina stands today

Sentenced to death, in her absence.

Death
Convicted in absentia of crimes against humanity over the July 2024 crackdown. Her home minister, Asaduzzaman Khan Kamal, also got death.
Court verdict · 17 Nov 2025
26 yrs
In three Purbachal land cases (21 years, 27 Nov 2025) and another (5 years, 1 Dec 2025). Six months for contempt of court on 2 July 2025.
Court verdicts
24
death sentences for 23 people, plus three sentences of imprisonment until death and 11 life terms, in eight July-uprising cases by 29 October 2026.
Court verdicts
19 of 23
of the condemned are on the run, including Awami League general secretary Obaidul Quader and joint general secretary Mahbubul Alam Hanif.
TBS

Her party's activities have been banned since 12 May 2025 and its registration is suspended. It could not run in the 12 February 2026 election, which the BNP won with a two-thirds majority. Dhaka has asked India to send her back; New Delhi says the request is “being considered through judicial and internal legal procedures”.

How to read this

Not every claim carries the same weight.

Each claim on this page carries one of three labels, in brackets after it or on a tag beside it. They run from settled in court to not yet proven.

Court verdict

A court has ruled on it.

On this page

A tribunal sentenced Sheikh Hasina to death in absentia in November 2025 (court verdict)

Official finding

A government commission, the White Paper committee, an audit, the UN or a foreign government has found it.

On this page

A state commission has verified 1,350 complaints of enforced disappearance (official finding)

Allegation

Reported by credible media, rights groups or prosecutors, but not yet proven in court.

On this page

That the Hasina family siphoned off $5 billion through Rooppur. The ACC is investigating; no case has been filed (allegation)

Being named is not a verdict

Naming a person here does not mean they have been found guilty.

Their side

The Awami League rejects most findings and calls the trials a political vendetta. Its answers are in Chapter 13, and denials sit beside the claims they answer.

Where the money figures come from

Figures marked “White Paper” come from a report written for the interim government by a committee chaired by the economist Debapriya Bhattacharya (December 2024). They are estimates, not court findings.

The record in order

Fifteen years, seventeen turning points.

2009
6 Jan 2009

Hasina sworn in

Her alliance won a landslide on 29 Dec 2008, in an election run by a neutral caretaker government.

2009
25–26 Feb 2009

Pilkhana massacre

74 killed at the border-guard headquarters, including 57 army officers. A 2025 commission says Hasina approved the operation.

2010
2010–11

No-tender power, and a market crash

A Special Provisions Act gives legal immunity to no-tender power and energy deals. The stock market crash of 2010–11 wipes out about $27 billion.

2011
30 Jun 2011

The caretaker system abolished

The 15th Amendment ends the neutral caretaker government that had run every election since 1996.

2012
2012–13

Nine new banks licensed

Several go to Awami League politicians. In April 2012, BNP leader Ilias Ali disappears.

2013
6 May 2013

Night raid at Shapla Square

Hefazat-e-Islam sit-in cleared; Diganta TV and Islamic TV shut. Rights groups count 50 to 61 dead.

2014
5 Jan 2014

One-sided election

153 of 300 seats uncontested; official turnout 39.6%.

2015
Dec 2015

Rooppur contract signed

The $12.65 billion deal with Russia's Rosatom, the most expensive project in the country's history.

2016
Feb 2016

$81 million stolen

A cyber-heist at the central bank, kept quiet for about a month. Governor Atiur Rahman resigns.

2017
Jan 2017

Islami Bank taken over

S Alam Group takes control with intelligence help, the central bank later says.

2018
May 2018

The “war on drugs”

466 extrajudicial killings that year, three times the previous level.

2018
30 Dec 2018

The “midnight election”

The ruling alliance takes 288 of 298 seats after ballot-box stuffing the night before polling.

2024
7 Jan 2024

The “dummy election”

Boycotted by the BNP. 62 “independents”, mostly Awami League members told to run as stand-in rivals.

2024
Jul–Aug 2024

The crackdown

Up to 1,400 killed in the crackdown on a student-led uprising.

2024
5 Aug 2024

Hasina flees to India

Police in Jatrabari fire for more than 30 minutes on the day she leaves; at least 52 are killed, a BBC Eye investigation found.

2025
17 Nov 2025

Sentenced to death

International Crimes Tribunal-1 convicts her in her absence of crimes against humanity.

2026
10 Jul 2026

“I have to go.”

Hasina announces she will return in December. “They may arrest me on my return, they may even kill me.”

2009
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2018
2024
2024
2024
2025
2026
Exhibit 01
Ballot box, polling station
Ballot box, polling station
153 SEATS UNCONTESTED←→153 SEATS UNCONTESTED
TURNOUT 39.6%←→TURNOUT 39.6%
OBSERVERS: NOT FREE OR FAIR←→OBSERVERS: NOT FREE OR FAIR
Chapter 01

Threevoteswithoutarealcontest

Her 2008 win was real. Her alliance took a landslide in an election run by a neutral caretaker government. What came after was different.

Within three years her government had scrapped the caretaker system. It went on to win three more elections, in 2014, 2018 and 2024, that independent observers did not accept as free or fair. The White Paper calls those votes “fraudulent” and traces much of the corruption that followed to this loss of accountability.

30 Jun
2011

Scrapping the referee

Since 1996, a non-party caretaker government had run every general election. In May 2011 the Supreme Court's Appellate Division, led by Chief Justice ABM Khairul Haque, ruled it unconstitutional. Parliament passed the 15th Amendment weeks later. The High Court restored the system on 17 December 2024 (court verdict). Khairul Haque was arrested in July 2025 (allegation; case pending).

Illustration: Sheikh Hasina standing alone among rows of empty chairs
Illustration
300 seats
Awami League, uncontested · 127Other, uncontested · 26Contested · 147
Election Commission led by Kazi Rakibuddin Ahmad. The UN Secretary-General said the vote was neither peaceful nor inclusive.
Three elections · pick a year, or use the arrowsThree elections · tap a year
5 January 2014: the walkover

The BNP-led opposition boycotted. In 153 of 300 seats there was no vote at all, because only one candidate stood; 127 of those seats went to the Awami League. Official turnout was 39.6%, and as low as 22% in Dhaka. By 21 January, 7,015 opposition activists had been arrested.

The vote “did not appear to credibly express the will of the Bangladeshi people”.

US statement · official finding, foreign governments

Why it mattered. With no real elections, Parliament became a one-party room. In the White Paper's words, accountability “shifted from the electorate to political and business elites”. The Quality of Government dataset it cites shows Bangladesh's electoral-process score falling from 9 in 2009 to 4 in 2021.

Exhibit 02
Aynaghar cell, Dhaka Cantonment
Aynaghar cell, Dhaka Cantonment
345 STILL MISSING←→345 STILL MISSING
VERIFIED: 1,350←→VERIFIED: 1,350
DGFI · RAB CELLS←→DGFI · RAB CELLS
Chapter 02

Disappearances,secretprisonsand“crossfire”

“Crossfire” · illustration, not a photograph

For 15 years people were picked up by men in plain clothes and never seen again, or turned up weeks later dead in a staged “crossfire” shootout.

345

people are still missing. A state commission has verified 1,350 complaints of enforced disappearance under the Awami League, and found Hasina implicated “as an orderer in several cases”.

Official finding

Victims were passed between agencies so that no single unit held the whole record. The commission described a three-tier chain: “strategic leadership” (Hasina, her defence adviser and the home minister), agency chiefs, then field teams. Disappearances, it said, “were not viewed as crimes but rather as part of standard operational procedure”.

How the counts grew · different sources, not one series
3
Human Rights Watch count, 2009
130+
HRW count, January 2014
98
HRW: the year before the 2018 election alone
677
Rights-group tally of disappearances, 2009–23
1,350
Verified by the state commission, June 2025
Hover or tap a bar for the source.
A barred cell with a restraint chair, in halftone

Aynaghar, the “House of Mirrors”

Military intelligence (DGFI) ran secret cells inside Dhaka Cantonment, and RAB ran its own, including at RAB-1 headquarters in Uttara. After the government fell, investigators found 500 to 700 such cells around the country. Among those freed in August 2024 were barrister Mir Ahmad Bin Quasem, held about eight years, and retired Brig Gen Abdullahil Amaan Azmi, held since 2016.

The 2018 “war on drugs”

It began in May 2018, six months before the election. Security forces reportedly committed 466 extrajudicial killings that year, three times the previous level. A senior RAB officer had told Swedish Radio: “If you find him, shoot and kill him, wherever he is. And then plant a weapon beside him.”

Accountability · so far
10 Dec 2021

US Treasury sanctions RAB and six current or former commanders. Hasina's government made one of them, Chowdhury Abdullah Al-Mamun, police chief anyway in September 2022. (official finding, US government)

8 Oct 2025

International Crimes Tribunal-1 accepts charges in two disappearance cases, naming Hasina and Maj Gen (retd) Tarique Ahmed Siddique first. A first for Bangladesh, said the UN human rights chief. Charges in the RAB case were framed on 23 December 2025.

Exhibit 03
Pilkhana, 2009
Pilkhana, 2009
74 KILLED, 2009←→74 KILLED, 2009
50–61 DEAD, 2013←→50–61 DEAD, 2013
COMMISSION: PLANNED←→COMMISSION: PLANNED
Chapter 03

Pilkhana,ShaplaSquareandthearmedwings

Pilkhana gate and Shapla Square · illustration, not a photograph

Two episodes bracket the era. Running alongside both were the ruling party's student and youth wings, which used violence as a tool of politics for 15 years.

25–26 February 2009

Pilkhana

74

killed when Bangladesh Rifles border guards mutinied at their Dhaka headquarters, including the director general, Maj Gen Shakil Ahmed, and 56 other army officers.

A 2025 commission found the massacre “was a planned operation rather than a spontaneous mutiny”, that Awami League MP Sheikh Fazle Noor Taposh was “a key coordinator”, and that “then-Prime Minister Sheikh Hasina approved the operation” (official finding, 30 Nov 2025).

The first trials sentenced 152 to death and 161 to life in 2013; Human Rights Watch raised “serious fair trial concerns”. The commission chief's claims about unaccounted Indian nationals have not been tested in court (allegation).

5–6 May 2013

Shapla Square

About 5,000 police, RAB and border guards cleared a Hefazat-e-Islam sit-in in the early hours, after cutting the power. How many died depends on who is counting.

11
Government
50+
Human Rights Watch
61
Odhikar, documented
93
Hefazat-e-Islam, named
Four counts of the same night.

Diganta TV and Islamic TV, the two channels showing the raid live, were taken off air at dawn. Odhikar's secretary was arrested over the 61-death report; in September 2023 he and its director were sentenced to two years.

The Chhatra League and Jubo League

The government's muscle on campuses and in the streets.

Abrar Fahad, 2019. Chhatra League members beat the BUET student to death in his dormitory on 6–7 October 2019, after he criticised water and port agreements with India on Facebook. On 8 December 2021 a tribunal sentenced 20 to death and five to life (court verdict).
Banned. The Chhatra League was banned under the Anti-Terrorism Act on 23 October 2024, citing its role in the July killings. Its national leaders and the Jubo League's were sentenced to death on 15 September 2026 (court verdict).
Exhibit 04
Student protests, July 2024
Student protests, July 2024
INTERNET CUT 18 JUL←→INTERNET CUT 18 JUL
UP TO 1,400 KILLED←→UP TO 1,400 KILLED
5 AUG: HASINA FLEES←→5 AUG: HASINA FLEES
Chapter 04

July–August2024

The July uprising · illustration, not a photograph

The UN estimates that as many as 1,400 people were killed in six weeks, most of them shot by security forces.

Between 12% and 13% of the dead were children. A Bangladeshi tribunal has found Sheikh Hasina guilty of ordering the killings and sentenced her to death (court verdict). Since then the tribunals have convicted 72 people in eight cases.

Student protests, July 2024
How it unfolded ↓
14
Jul 2024

The quota remark

Students protest quotas for government jobs. Hasina asks: “If the grandchildren of freedom fighters don't get quota benefits, will those then go to the grandchildren of the Razakars?” It likens protesters to the 1971 collaborators.

15
Jul 2024

Campuses attacked

The ruling party's student wing, the Chhatra League, attacks campuses.

16
Jul 2024

Abu Sayed

Police shoot student Abu Sayed at Begum Rokeya University in Rangpur as he stands with his arms spread wide. The UN finds “reasonable grounds to believe” it was “a deliberate extrajudicial killing by the police”.

18
Jul 2024

The blackout

The government cuts the internet nationwide until 28 July, imposes a shoot-on-sight curfew, and sends in the army, Border Guard and RAB helicopters.

5
Aug 2024

The last day

Hasina flees. In Jatrabari police fire for more than 30 minutes after the army pulls back, killing at least 52 (BBC Eye). In Ashulia police pile bodies into a van that prosecutors say was then set on fire.

How many died? The counts differ.

More than 20,000 people were injured, including about 400 who lost their sight.

The UN also documented revenge violence after the government fell, against Awami League supporters, police (44 officers were killed), journalists, Hindus, Ahmadiyya Muslims and Hill Tracts communities.

834
Government gazette, January 2025
1,000+
Health ministry
Up to 1,400
UN estimate, 1 July – 15 August 2024
Hover or tap a bar for the source.
“Use lethal weapons… wherever they find [protesters], they will shoot.”
Audio of an 18 July 2024 call, as verified by the BBC

BBC-verified and matched to her voice by police forensics, according to the Dhaka Tribune.

The Awami League says it cannot confirm the recording is real and denies she ordered lethal force. The UN found “an official policy to attack and violently repress anti-Government protesters”, raising concerns of crimes against humanity (official finding).

The verdicts · eight handed down by October 2026
17 Nov 2025
The Hasina case (ICT-1)
Death: Sheikh Hasina; Asaduzzaman Khan Kamal. Five years: Chowdhury Abdullah Al-Mamun, who turned state witness.
26 Jan 2026
Chankharpul
Death for Dhaka police commissioner Habibur Rahman and two other senior officers.
5 Feb 2026
Ashulia killings and burning of bodies
Six sentenced to death, including MP Muhammad Saiful Islam; seven to life.
9 Apr 2026
Abu Sayed
Two police officers to death, three to life, 25 others jailed.
28 Jun 2026
Rampura
Three police officers to death, including Habibur Rahman (his second death sentence).
30 Jun 2026
Hasanul Haq Inu
Former information minister convicted over killings in Kushtia; reports of the sentence differ.
15 Sep 2026
The party leadership (ICT-2)
Death, in absentia: Obaidul Quader and six others, including the Jubo League and Chhatra League leaders.
29 Oct 2026
Kushtia killings (ICT-2)
Death, in absentia: Mahbubul Alam Hanif, Awami League joint general secretary. Imprisonment until death: three local party leaders.

Together the eight verdicts include 24 death sentences for 23 people (one man was condemned twice), three sentences of imprisonment until death, 11 life terms and other prison terms. Nineteen of the 23 condemned are on the run. Prosecutors say 70 cases have been filed, with 203 people arrested and 352 at large (court verdicts).

Exhibit 05
Burnt-out newsroom
Burnt-out newsroom
CHANNEL 1 SHUT 2010←→CHANNEL 1 SHUT 2010
DIGANTA TV OFF AIR←→DIGANTA TV OFF AIR
SAGAR-RUNI: UNSOLVED←→SAGAR-RUNI: UNSOLVED
Chapter 05

Channelsshut,courtsbent

Gagged reporters before the Supreme Court · illustration, not a photograph
Plate I
Media

The government controlled the media from both ends. It shut down channels and newspapers linked to the opposition, and handed new TV licences to its own MPs, ministers and allies.

  1. 27 Apr 2010
    Channel 1 shut
    The regulator closes a BNP-linked TV station.
  2. 6 May 2013
    Diganta TV and Islamic TV off air
    The two channels showing the Shapla Square raid live are taken off air at dawn.
  3. 5 Jan 2015
    Ekushey TV off air
    Shut after airing a Tarique Rahman speech.
  4. Nov 2017
    Chief Justice resigns
    SK Sinha resigns from abroad after ruling against the government.
  5. Feb 2018
    Khaleda Zia jailed
    Jailed in February 2018; acquitted in 2025 as “malicious prosecution”.
  6. Oct 2018
    Digital Security Act
    The law is enacted.
  7. Feb 2021
    Writer dies in custody
    Mushtaq Ahmed dies in custody; Al Jazeera airs All the Prime Minister's Men.
  8. 11 Feb 2012
    Sagar-Runi killings
    Journalists Sagar Sarowar and Meherun Runi are murdered in their flat. On 30 Sep 2026 the probe report was deferred for the 130th time.
Exhibit 06
Bank headquarters
Bank headquarters
9 BANKS, 2012–13←→9 BANKS, 2012–13
~$17BN OUT (GOVERNOR)←→~$17BN OUT (GOVERNOR)
UP TO 7 BANKS: S ALAM←→UP TO 7 BANKS: S ALAM
Chapter 06

Licencesforfriends,takeoversatgunpoint

$17bn

Politically connected groups took about this much out of the banking system, says the governor appointed after Hasina's fall, Ahsan H Mansur. He calls it “the biggest robbing of banks by any international standard”, and says military intelligence helped force the takeover of whole banks.

The method was simple. First get a bank licence through political connections, then lend the depositors' money to yourself.

9
new banks approved in 2012–13 alone; the number of banks more than doubled (White Paper)
Up to 7
banks controlled at one point by S Alam Group chairman Mohammed Saiful Alam. He denies wrongdoing.
11 of 20
of the top loan defaulters named in Parliament on 6 April 2026 are S Alam firms (official finding)
~87%
bad loans at Union Bank by 2024; most loans went to “300 companies that exist only on paper” (official finding)

Even Hasina's own finance minister, AMA Muhith, said later licences for Community, Citizens, Bengal Commercial and People's banks reflected “political considerations”. The governor says “at least $10 billion” was taken by S Alam's group (allegation); the group's lawyers say there is “no truth” to the claim.

Exhibit 07
Rooppur reactor site, Ishwardi
Rooppur reactor site, Ishwardi
$12.65BN←→$12.65BN
90% RUSSIAN LOAN←→90% RUSSIAN LOAN
$5BN ALLEGED, UNPROVEN←→$5BN ALLEGED, UNPROVEN
Chapter 07

ThemostexpensivethingBangladesheverbought

$12.65bn

Two 1,200-megawatt reactors at Ishwardi, built by Russia's Rosatom. Ninety per cent is a Russian loan the country must repay: $11.385bn at six-month LIBOR (later SOFR) plus 1.75%, capped at 4%, with a 10-year grace period and 20 years of repayment. About $500m a year falls due from 2026.

Three questions hang over it. Why does it cost so much more than similar Russian-built plants? Where did the money go? And why was it built before the grid could carry its power?

Allegation · unproven
The ACC opened a probe on 23 December 2024 into Rooppur and the Hasina family's alleged $5 billion graft. No case has been filed yet. Rosatom calls the reports “provocative”; Tulip Siddiq denies wrongdoing.
Cost per kilowatt of capacity
White Paper comparison with Rosatom's own Kudankulam plant in India (2,000 MW, $6.7bn)
$3,350
Kudankulam, India (Rosatom)
$5,500
Rooppur, Bangladesh (Rosatom)
Adjusting for size, Rooppur costs $5.2bn more.

In fairness: countries with their own nuclear industry, like India, build more cheaply, and Rosatom's plant in Egypt costs even more, about $30 billion for 4,800 megawatts. For years Rooppur's allocation was counted under the education budget, which the White Paper says had “no rational explanation”. The transmission lines to carry its electricity were still not finished when the plant was nearly ready.

Exhibit 08
Padma Bridge
Padma Bridge
TK 10,162 → 32,605 CR←→TK 10,162 → 32,605 CR
AVG 70% OVER BUDGET←→AVG 70% OVER BUDGET
$14–24BN LOST OVERALL←→$14–24BN LOST OVERALL
Chapter 08

Megaprojectsandpublicspending

The roads, bridges and rail lines were the proudest part of Hasina's story, and the part where the most money leaked.

$14–24bn

of the roughly $60 billion spent through the development budget over 15 years was lost to bribery, political extortion and padded budgets, the White Paper estimates. Big projects ran on average 70% over budget and more than five years late.

23–40%
of construction costs eaten by corruption
68%
of e-procurement value won by the top 5% of firms, 2012–23
What a kilometre of road costs
Four-lane urban road, $ million per km (AIIB figures cited by the White Paper)
6.35
Bangladesh
3.90
China
2.95
Pakistan
2.15
Indonesia
1.45
India
Bangladesh pays more than four times India's cost per kilometre.
Padma Bridge · cost, Tk crore
10,1622007
→ 32,6052023
Exhibit 09
Power plant
Power plant
~17,000 MW DEMAND←→~17,000 MW DEMAND
~30,000 MW INSTALLED←→~30,000 MW INSTALLED
~TK 1.15 LAKH CR PAID←→~TK 1.15 LAKH CR PAID
Chapter 09

Power:thefirmsthatgotpaid

Bangladesh did get electricity to almost every home. The question is what it paid, and to whom.

A 2010 law gave everyone involved immunity from prosecution and let the energy minister approve deals without competition. Hasina held the energy ministry herself from 2009 to 2024. The White Paper finds about 5,000 MW of capacity the country did not need, an estimated $3 billion in kickbacks, and generation costs that nearly doubled (official finding).

Plants paid whether or not they ran
Megawatts · peak demand 2024 against capacity and the government's 2030 target
~17,000
Actual peak demand, 2024
~30,000
Installed capacity
40,000
Government's 2030 target
Capacity payments to June 2023 came to about Tk 1.05 lakh crore, per state minister Nasrul Hamid.
Who received the money
Top 10 independent power producers, capacity payments to June 2023, Tk crore (figures given to Parliament)
7,455
Bangladesh-China Power Co (state JV)
5,475
Meghna Power Ltd
4,004
Rural Power Co Ltd
3,644
Summit Meghnaghat Power Ltd
2,824
Sembcorp NWPC Ltd
2,788
APR Energy
2,683
Summit Bibiana Power Co
2,558
Haripur Power Ltd
2,377
United Ashuganj Energy Ltd
1,853
Bangla Track Power Unit-1 Ltd
Official figures disclosed by state minister Nasrul Hamid.
Exhibit 10
Dubai skyline
Dubai skyline
$234BN←→$234BN
6% OF GDP←→6% OF GDP
~$4M RECOVERED/FROZEN←→~$4M RECOVERED/FROZEN
Chapter 10

Moneylaundering

What does $234 billion, smuggled out of Bangladesh in 2009–2023, look like in $100 notes?

Lay them end to end, one on top of the next. A single note is 15.6 cm long.

90 notes, $9,000, stand as tall as the Shaheed Minar.

295 notes, $29,500, reach the top of the National Martyrs' Memorial.

56,740 notes, $5.7m, reach the summit of Mount Everest, 8,849 m.

At $22.9bn the line reaches Bangladesh Satellite-1, launched as Bangabandhu Satellite-1, 35,786 km up.

All $234bn: 2.34 billion notes, 364,937 km. 95% of the way to the Moon.

The notes run out 19,463 km short.

Illustration · $234bn: the White Paper's estimate for 2009–2023. A $100 note is 15.6 cm long; the Moon at its average distance; the satellite in geostationary orbit. The line is drawn wider than life.

The White Paper's estimate works out to about $15.6 billion a year, roughly 6% of GDP, and more than the country received in foreign aid and investment combined (official finding). The main channels were under- and over-invoicing of trade and hundi, the informal money-transfer system.

In 15 years only four stolen-asset cases, worth about $4 million, were recovered, returned or frozen. The money went to the UAE, UK, Canada, US, Hong Kong, Malaysia, Singapore and tax havens. The estimate extends Global Financial Integrity data that stops in 2015.

$375m
of Dubai property held by 532 Bangladeshi-origin owners
3,600+
Bangladeshis with Malaysia Second Home status
26 years
Hasina's total in four Purbachal land cases (court verdicts, 27 Nov and 1 Dec 2025)
Exhibit 11
Statistics bureau
Statistics bureau
GDP: ~7% VS ~4.2%←→GDP: ~7% VS ~4.2%
UNEMPLOYMENT 3.5% VS 5.6%←→UNEMPLOYMENT 3.5% VS 5.6%
EXPORTS GAP $13.8BN←→EXPORTS GAP $13.8BN
Chapter 11

Thenumbersthatweremassaged

The White Paper's central claim is that the “development miracle” rested partly on doctored numbers.

GDP growth, 2009–19

Officially about 7% a year; the White Paper finds about 4.2%, slowing from the mid-2010s.

~7% a year
~4.2% a year
Official figureWhite Paper finding

Officials told the committee that after 2013 political leaders “took a keen interest in GDP figures”. Bangladesh also stopped sending trade data to the UN after 2015. The White Paper also found a multidimensional poverty rate of 36.1% in a 2020 draft, revised to 24% and left unpublished. All figures are official findings of the White Paper.

Exhibit 12
Tribunal courtroom, Dhaka
Tribunal courtroom, Dhaka
24 DEATH SENTENCES←→24 DEATH SENTENCES
19 OF 23 AT LARGE←→19 OF 23 AT LARGE
70 JULY CASES FILED←→70 JULY CASES FILED
Chapter 12

Accountabilitysofar

Typed note clipped to a paper folder: Most of what the White Paper documents, from the power contracts to the bank takeovers to Rooppur, has not reached a courtroom. Nearly every leading accused, Hasina included, is abroad.
23 Dec 2024
ACC opens probe into Rooppur and alleged Hasina family graft.
No case filed yet
12 May 2025
Awami League activities banned; registration suspended.
Still in force
30 Nov 2025
Pilkhana commission says Hasina approved the operation.
Report
23 Dec 2025
Charges framed against Hasina and 16 others in the RAB secret-prison case.
Trial under way
Jan 2026
Review committee finds the Adani power deal overpriced by $400–500 million a year.
No contract action yet
6 Apr 2026
Top 20 loan defaulters named in Parliament; 11 belong to S Alam Group.
Recovery pending
20 Jul 2026
49 recruiting licences revoked over the Malaysia syndicate.
Charge sheets accepted
24 Aug 2026
High Court upholds death for two killers of Nusrat Rafi, and acquits 10, including Awami League leaders Ruhul Amin and Maksud Alam.
Appeal decided
9 Sep 2026
Putul resigns from the WHO.
Resigned; denies wrongdoing
15 Sep 2026
Obaidul Quader and six others sentenced to death.
All at large
18 Oct 2026
ACC approves a charge sheet against Saima Wazed Putul over an allegedly false CV for her WHO post.
Charge sheet approved
29 Oct 2026
Mahbubul Alam Hanif sentenced to death over six killings in Kushtia; three local Awami League leaders get imprisonment until death.
All four abroad
Exhibit 13
Awami League supporters
Awami League supporters
“KANGAROO COURT”←→“KANGAROO COURT”
PARTY BANNED 12 MAY 2025←→PARTY BANNED 12 MAY 2025
HRW · AMNESTY CAUTION←→HRW · AMNESTY CAUTION
Chapter 13

WhattheAwamiLeagueandtheaccusedsay

The party rejects the verdicts and most of the findings, and calls the trials a political vendetta by its opponents. Here are its answers, so readers can weigh them.

On the death sentence
The party called the tribunal a “kangaroo court”. Hasina called the proceedings “farcical”, and says she will come back and face them.
On July 2024
The party “categorically denies” that Hasina or senior leaders “directed the use of lethal force against crowds”.
On the disappearance cases
Spokesman Mohammad Arafat called the process “a complete sham” and “a vendetta” by Jamaat-e-Islami.
On the party ban
“Why should they suspend the Awami League? If we have done badly, let the people decide.” Hasina, July 2026.
On its record in office
The party points to the Padma Bridge, the Dhaka Metro Rail, near-universal electricity, official poverty falling from 31.5% in 2010 to 18.7% in 2022, and middle-income status. The White Paper accepts real gains, but argues the figures were inflated and the gains fragile.
On Rooppur and others
Rosatom calls the $5 billion reports “provocative”. Adani says its power is competitively priced. Saifuzzaman Chowdhury calls the UK property case a “witch-hunt”.
Independent caution

Human Rights Watch, Amnesty International and the UN back accountability for the July killings and the disappearances, but warn against trials in absentia, rushed proceedings, the death penalty and a blanket party ban. Many of the corruption figures here are estimates by a government-appointed committee, not court findings; the $5 billion Rooppur claim is an allegation and has not been proven.

Key findings

Before she comes back.

3
All three elections after 2008, in 2014, 2018 and 2024, were not accepted as free or fair by independent observers.
1,350
enforced disappearances verified by a state commission; 345 people are still missing.
1,400
people killed, at most, in six weeks of 2024, according to the UN. A tribunal has sentenced Hasina to death for ordering it.
$17bn
taken from the banking system by connected groups, says the central bank governor (an allegation S Alam disputes).
$14–24bn
lost from about $60 billion of development spending, and $234 billion smuggled out, in the White Paper's estimate.
19/23
of those condemned over July 2024 are on the run, and most of the economic record has not reached a courtroom.

Much of the economic record has not been tested in court, and every figure should be read with its label. What is settled is narrower: a tribunal has convicted Sheikh Hasina in absentia of crimes against humanity, and she says she will go back to face it in December.

Sources
  • White Paper Committee, White Paper on State of the Bangladesh Economy (draft, Dec 2024)
  • UN OHCHR fact-finding report, 12 Feb 2025
  • US Treasury, RAB sanctions, 10 Dec 2021
  • Commission of Inquiry on Enforced Disappearances, interim reports (TBS; Prothom Alo)
  • Pilkhana commission, 30 Nov 2025
  • Human Rights Watch, Where No Sun Can Enter (2021)
  • Capacity payments disclosed to Parliament, Prothom Alo, Sept 2023
Courts and reporting
  • Trial of Sheikh Hasina; July verdicts tally (TBS; BSS, 21 Oct 2026)
  • Disappearance cases (JusticeInfo; Asia News Network; Dhaka Tribune)
  • Purbachal verdicts, 27 Nov and 1 Dec 2025
  • Al Jazeera, 10 Jul 2026; The Week, 5 Oct 2026; The Swipe Up, 20 Oct 2026
  • BBC-verified audio and Jatrabari (Dhaka Tribune)
  • Wikipedia reference articles for compiled figures
Credits
By Nutshell Today.
Source report: The Hasina Years, 2009–2024: A Sector-by-Sector Record, by Mizan Rahman, to 29 Oct 2026.
No generated images are presented as photographs.