Finance
Bangladesh Bank Bangladesh Bank taking tough stand against hundi to prevent money laundering
Dhaka, March 12: Bangladesh Bank Governor Abdur Rauf Talukdar said that Bangladesh Bank has taken a strict stand against Hundi to prevent money laundering from the country.
He said that 1 to 200 Mobile Financial Service (MFS) accounts are being closed every day due to involvement in such crimes.
He made this comment at the opening ceremony of the training workshop at the Police Criminal Investigation Department (CID) headquarters on Monday.
The Governor of the central bank said that when I joined Bangladesh Bank in 2022, there was a severe crisis of foreign exchange in the country. At that time there is no first step to stop overinvoicing. Because there is very little dollar-smuggling from the country to the pocket. Major money laundering cases occur through over invoicing. Again, money laundering occurs despite keeping the profit of export products abroad. Initiatives are also taken to prevent that.
Expressing the central bank's strong position on the ban on hundi, he said, "Expatriate may send Tk 500 to a family in the country, then he gives it to a person he knows there and asks him to give it to his family in the country. That money remains abroad. In contrast, a representative in Bangladesh pays Rs. As earlier payment was made through home delivery, now it is done through MFS. 1 to 200 such accounts are being closed every day. Later some accounts were opened again with sureties. Permanent action is taken against any of them."
The governor said, "45 to 50 million are transacted through money changers in the country. And 270 billion in banking channel. But despite a small fraction of transactions, when money changers hiked the dollar rate by Tk 2, many expatriates tried to hold on to remittances. This is how the dollar crisis was created. That is why the campaign against money changers is ongoing. Also avoid dealing in cryptocurrencies. It is completely illegal in our country."
