‘BB probing loss of $75 billion for trade misinvoicing’

State Minister for Finance and Planning M Abdul Mannan today told the parliament that the government has instructed the Bangladesh Bank to investigate into the allegation of losing $75 billion due to trade misinvoicing and other unrecorded outflows between 2005 and 2014.

Pointing out a report published in The Daily Star today with headline “$6-9b lost in 2014”, Jatiya Party lawmaker Pir Fazlur Rahman, in a supplementary question, wanted to know what steps the government has taken to bring back the siphoned off money.

READ MORE: $6-9b lost in 2014

“The Financial Intelligence unit of Bangladesh Bank is investigating into the incident and the central bank will take necessary steps after getting the probe report,” the minister told the parliament.

The government will cooperate the central bank from all aspects to stop such types of to corruptions, the minister also said.

JSD MP demands explanation from FM

Mayeen Uddin Khan Badal, a lawmaker from Jatiya Samajtantrik Dal, today demanded an explanation from the Finance Minister AMA Muhith on money laundering issue.

“Stop your [finance minister’s] other activities and come to the parliament with your reply,” he said while speaking on a point of order.

Badal said, “Bangladesh will not be able to become a middle income country from lower middle income one if we cannot stop such incidents. Rather the country will move backward.”

“We will remain hostage in the hands of money theft if we cannot stop siphoning off money. They [those who are laundering money] will purchase law and parliament,” he added.

Coming down heavily on the finance minister, Badal said it is unfortunate that such incidents of money laundering took place during the past eight years of Awami League’s rule.

“It’s not good sign that we are remaining silent over the money laundering issue. We are telling that development works are taking place in the country. But all the development activities will be failed if such hollow exist,” he added.