The convention, the first truly global tool in the fight against corruption, will enter into force on December 14, 2005. So far, 129 countries have signed the convention.

In a press release yesterday, TIB Executive Director Dr Iftekharuzzaman referred to a commitment made by the law minister at a seminar last year to taking necessary steps to sign and ratify it. But no progress in this regard has since taken place, he added.

He also said that many Asia-Pacific countries, including Nepal, Pakistan, Afghanistan, Malaysia and Thailand, have signed the convention and Sri Lanka has already ratified it.

The TIB reiterated that by becoming a state party to the convention, Bangladesh could send a signal nationally and internationally that the level of political commitment of the government against corruption is high.

On the other hand, if the government continues to ignore it, it will fail in its electoral commitment to fighting corruption effectively, the TIB said.

The UN Convention addresses the key acts of corruption such as bribery and laundering of corrupt income in various ways, including retrieval of stolen funds, prevention of money laundering, global judicial action against international corruption, promoting comprehensive anti-corruption legislation and enhancing accounting and auditing standards.

Although 129 countries, including the group of industrialised nations (G-8), have signed the convention, only a quarter of the states have so far ratified it.

"The G-8 needs to show that they are in this fight to win. Wealthier countries can hardly call on their poorer neighbours to take the fight against corruption seriously when they themselves are unwilling to act," said David Nussbaum, chief executive of the Transparency International.