Former Bangladesh Bank governor Mohammad Farashuddin has dismissed the government’s white paper committee ruling that $16 billion was being laundered abroad from the country annually, calling the figure “unrealistic.”
Advising against hyperbole and melodrama, the former governor cited data from a Washington-based research institute, an average of $7 billion has been laundered annually since 2004.”
Farashuddin made these remarks in his speech as the chief guest at the “Monthly Macroeconomic Insights” event organised by the Policy Research Institute (PRI).
Economists and business leaders were present at the event held at the PRI office in Dhaka on Tuesday.
Farashuddin also said, “Wholesale seizure of bank accounts is not very good practice. It reduces trust in banks. It must be kept limited to a very small number, done judiciously.”
He added that only the 10-15 “rogue” groups that have destroyed the country’s economy should have their accounts and assets seized and taken under government ownership.
