The authorities is taking projects to hold customers’ deposited cash stable in banks. Before merging susceptible banks, the authorities will collect those banks.

This records turned into shared via way of means of Governor Dr. Ahsan H Mansur at a press convention these days on the Bangladesh Bank headquarters withinside the capital.

He stated , “Customers haven’t any purpose to worry. They can be a part of a sturdy financial institution .”

The primary financial institution prepared this press convention to post the yearly record of the Bangladesh Financial Intelligence Unit (BFIU).

The governor said that earlier than consolidation, the primary financial institution will improve finances to shape a financial institution decision fund.

He similarly referred to that the Bangladesh Bank will now no longer capture financial institution debts to impede any enterprise entity.

Regarding cash laundering, the governor stated that in the Awami League authorities , 18 to twenty billion US greenbacks had been laundered. It will take 3 to 5 years to carry this cash back.

He stated Bangladesh has in no way had the revel in of convalescing laundered cash earlier than . An inter-ministerial initiative has now been taken. The authorities will amend important legal guidelines and regulations. The electricity of the mission pressure may also be increased.

The governor said that no enterprise debts were seized so far. There isn’t anyt any obstruction in wearing out enterprise . Only a few private debts were seized.

The records furnished via way of means of the governor concerning bringing back ‘laundered cash ‘

He said that Bangladesh has no previous revel in in convalescing laundered cash , including that there’s now an inter-ministerial initiative. The authorities will amend important regulations and regulations. Additionally, the electricity of the mission pressure can be increased.

He additionally referred to that the paintings of seizing property foreign places is progressing. Assets have already been seized withinside the United Kingdom.

Weak financial institution consolidation: “The banks can be converted into authorities banks,” stated the governor

The governor of Bangladesh Bank, Ahsan H Mansur, has introduced that the authorities will take manipulate of susceptible banks earlier than merging them.

He stated , “There isn’t anyt any purpose for depositors to be anxious, as they may turn out to be a part of a sturdy financial institution .”

He advised depositors now no longer to withdraw their cash , assuring them that their deposits can be secure because the authorities takes manipulate . Before consolidation, the primary financial institution will accumulate finances to set up a financial institution decision fund.

Regarding the cash laundered all through the preceding Awami League authorities , he stated that 18 to twenty billion greenbacks had been laundered all through that time, and it’s going to take 3 to 5 years to carry this cash back.

It is noteworthy that yesterday (May 26), Governor Mansur introduced that there are plans to consolidate six financially susceptible banks via way of means of subsequent July because of mortgage fraud and irregularities.

He additionally referred to that those banks will quickly come below authorities possession to stabilize the banking sector.

The six banks are—First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, Exim Bank, and National Bank.

Among them, 4 banks had been below the arguable S Alam Group’s manipulate till August 5, 2023.

Exim Bank turned into controlled via way of means of businessman Nazrul Islam Majumdar, even as National Bank turned into below the manipulate of the Sikder Group.

 

18-20 billion greenbacks were laundered from the country: Governor

The governor of Bangladesh Bank, Dr. Ahsan H Mansur, believes that 18 to twenty billion greenbacks were laundered from the country. However, documenting that is time-consuming. He said that the paintings is presently in progress.

He made this observation because the leader visitor on the annual record launch occasion of BFIU on Tuesday.

During the click convention held on the Bangladesh Bank convention room, officers of diverse levels, along with BFIU leader AFM Shahinul Islam, had been present.

The governor stated that diverse projects were taken to get better the laundered cash . A joint research crew is operating , and extra groups might be fashioned if necessary.

The governor Ahsan H Mansur said that in the guideline of thumb of the Awami League, 18-20 billion or 1800 to 2000 crore greenbacks have been laundered from the country ( equal to two lakh 19 thousand six hundred crore to two lakh forty four thousand crore Bangladeshi Taka). One man or woman offered 350 houses. This cash turned into laundered with the aid of using taking loans from banks. These incidents were uncovered. The quantity of this cash is growing day with the aid of using day.

The governor made those remarks for the duration of the once a year record launch occasion for the economic yr 2023-24 of BFIU, that’s answerable for stopping cash laundering. The occasion turned into held on the Jahangir Alam Conference Hall of Bangladesh Bank and turned into chaired with the aid of using BFIU leader officer AFM Shahinul Islam.

During the occasion , Governor Ahsan H Mansur said, “Bringing returned the laundered cash is a brand new enjoy for Bangladesh. None folks had been organized to adopt such tasks. There is an attempt to streamline bureaucratic complexities to boost up the technique of improving laundered cash . Changes might be made to legal guidelines for that purpose. A joint research is ongoing with eleven groups.”

The governor additionally said , “It will take 3 to 5 years to deliver returned the laundered cash . Already, property of 1 man or woman were seized abroad. More property might be seized withinside the future. Our purpose is to create strain on cash launderers in order that the cash may be recovered out of doors of court. It isn’t our purpose to bother each person with the aid of using imprisoning them. It isn’t our purpose to close down each person ‘s business. We have now no longer closed each person ‘s business. Those whose organizations were closed have completed so for different reasons.”

It turned into stated withinside the assembly that a complete of 17,345 suspicious transaction and activity- associated reviews (STR/SAR) were submitted to BFIU withinside the present day economic yr ; which is sort of 23 percentage better than the preceding yr . This shows that the notice and performance of reporting entities in cash laundering prevention sports have improved .

Additionally, BFIU despatched 114 economic intelligence reviews to diverse investigating organizations withinside the remaining economic yr . A overall of 1,220 facts exchanges came about with regulation enforcement and regulatory organizations , that’s an growth of 13. ninety one percentage in comparison to the preceding yr .

AFM Shahinul Islam, leader of BFIU, said that cash laundering and hundi have taken on a intense form, adversely affecting the economic balance and transaction stability of the country. Various projects were taken beneathneath the directives and patronage of the intervening time authorities to repair balance . Efforts are ongoing to deliver returned the laundered cash . A joint research is underway concerning eleven groups. The World Bank is supplying recommendation and help on this attempt .

The head of BFIU said that to deliver returned laundered cash , the enterprise is operating at the same time with diverse ministries, investigating organizations , and worldwide collaborators. Assistance is being sought from the World Bank’s STAR, americaA DoJ, IC3, and ICAAR. Steps have even began to get better cash with the aid of using hiring overseas felony firms. However, for the reason that technique is long- time period and complex, it’ll take time.

In the assembly , BFIU director Muhammad Anisur Rahman said that detecting and improving laundered cash is a non-stop technique . This attempt will continue. Since July of remaining yr , the paintings of BFIU has improved numerous folds. The variety of suspicious reviews has appreciably improved . Reports despatched with the aid of using diverse organizations:  have quadrupled.

SOURCE : WSN24