Political Commitment is Necessary among All Parties for Sense of Security to Reduce Illicit Financial Flow.

Apr 16, 2016

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Dhaka 16th April 2016. Today in a roundtable title “Illicit Financial Flow and Our Political Economy” jointly organized by the Daily Bonikbarta and Equity and Justice Working Group Bangladesh (EquityBD), speakers are urged for a minimum political commitment from all parties to promote sense of security to reduce illicit financial flow. The roundtable was chaired by Mr Tazul Islam Member of Parliament (MP) the Chairman of Parliamentary Standing Committee on Ministry of Oil, Gas and Mineral Resources, the roundtable was moderated by Mr Dewan Mohammed Hanif, Editor the Daily Bonik barta.
Other speakers of the roundtable was Mr Amir Kashru and Lt Gen (Retd) Mahbubur Rahman from Bangladesh Nationalist Party, Dr. Salehuddin Ahmed ex Governor Bangladesh Bank, Dr Hossain Zillur Rahman Chairman PPRC and ex Advisor to caretaker government, Dr. M A Taslim Chairman Department of Economics Dhaka University, Dr Jamal Uddin Ahmed, Member Governing Board Bangladesh Bank, Dr Rashed Al Titumir Dhaka University, Mr. Farooq Ahmed Executive Editor the New Nation, Rezaul Karim Chowdhury Chief Moderator EquityBD and Executive Director COAST. Mr Ahsanul Karim of EquityBD presented the key note papers.
Ahsanul Karim of EquityBD mentioned that present illicit flow from Bangladesh was 7 % of GDP in 2014; it was 11 % higher than on that time foreign flow. Bangladeshi people’s deposit in Switzerland Bank was 41 % higher compare to the figure of 2013, Bangladeshi s are third in second home program of Malaysia. He recommended, to follow the instances of present Indian govt. steps to contain the situation i.e., submission of income and bank statement of dual citizens, each purchase more than $ 2 thousand must go through bank channel in using of personal identification number, strong punishment in respect of false name asset.
Dr Salahuddin urge for strict compliance of rules and strong role of regulatory bodies. Dr MA Taslim mentioned that there should be study on why people transfer money; it is mostly because of hassles in law and insecurity in business investment. Dr Rashid Al Titumir said that illicit flow happened from the stock of money which is being accumulated out of public fund embezzlement, so corruption related to public fund have to be contained. Dr Hossain Zillur mentioned that illicit flow is multidimensional; even there is political certainty if there are no good governance illicit flow will happen. At the conclusions, Lt Gen (retd) Mahbubur Rahman, Mr Amir Kahsru of BNP and the Chair of the seminar Mr Tazul Islam MP emphasize the minimum political commitment to promote sense of security to reduce the illicit flow.