https://www.bssnews.net/news/262308

Terming Bangladesh as the worst victim of money laundering, Bangladesh Bank (BB) Governor Dr. Ahsan H Mansur today said vigorous efforts are underway to bring back the money laundered by some family rackets or organized groups from the country’s banking sector.

Illustrating a rosy picture of the country’s overall state of economy, the BB governor said, “we’re now in a breathtaking position as foreign exchange reserve reaches stable level, export has increased by 11 to 12 percent while 26 to 27 percent growth in the remittance inflow is really inspiring”.

He came up with the comments while exchanging views with the media people here this afternoon.

BB’s Executive Director Md Jamal Uddin, BIFU director Md Anisur Rahman, director Md Salah Uddin, Arifuzzaman, Md Ashikur Rahman and Sawroop Kumer Chowdhury were, among others, present at the event held at the BB’s conference room.

Dr. Ahsan H Mansur said that foremost responsibility of the central bank is to bring back a balance to the economy and it has achieved significant progress towards the goal.

He said that bringing back the laundered money is not an easy task and BB is working to do the job not only complying with the Bangladesh’s own laws but it should also follow the relevant laws of foreign countries concerned.

“We’re gathering details information regarding the siphoned off money. On the basis of the information, we will go for freezing assets within the next six months, which will be our primary success. Next process will have to be completed through court after forfeiting the assets of the offenders,” he said.

“It is required to identify the bank accounts, whereabouts of the company and assets of money launderers with the cooperation of foreign assets tracing firms as we have been getting sufficient response from our friendly countries, the BB chief said, adding, “The process is not so easy but time consuming and we are hopeful of locating assets abroad by next six months”.   

Reminding that prevention is better than cure, Dr. Mansur said that accurate information in hand will help the BB to recover or bring back the pilfered money.

“Besides, mulling necessary regulatory reform to prevent the money laundering in the future, we are working to adopt all options including out of the court settlement and reasonable negotiations to bring back the laundered money and assets,” said the governor.

Dr. Mansur said food inflation was shown less than actual scenario in the past, which was actually 13-14 percent but it was shown 9-10 percent.

“In the previous month, overall food inflation was 8% to 9% and the trend is in downward trend. We are optimistic about keeping the ratio (food inflation) within 5% or less in next fiscal”, he said.

Replying to a question, the BB governor said around money ranging from 2.5 to 3 lakh crore was laundered during the past regime. A Chattogram based big group had taken away at least Tk 1 to 1.5 lakh crore from banking sector, BEXIMCO had smuggled Tk around 50,000 crore while some other big conglomerates pilfered considerable amount of money from the country.

Regarding alleged involvement of some BB officials in the money laundering process, the governor said, “Necessary legal measurers have been taken against a number BB men but we will not take any punitive steps against anyone on the basis of false information.”