Govt steadfast to bring back money siphoned abroad: Kamal
BI Report || BusinessInsider
Post-budget conference on Friday. Photo: Business Insider Bangladesh
Finance Minister AHM Mustafa Kamal has said that the government is confident to repatriate undisclosed money laundered abroad.
Kamal made the comments at a post-budget press conference on Friday, held at the capital’s Osmani Smriti Auditorium.
The finance minister on Thursday unveiled the Tk 6,78,064 crore national budget for the financial year 2022-2023.
Regarding amnesty in legalising their laundered money through tax, Kamal said that the government is not terming this as “black money” rather as “undisclosed money”.
"We're trying to bring back that undisclosed money, he added.
He said that tax amnesty is not a new concept and Indonesia had brought back some $9.6 billion from abroad by giving such scopes in 2016.
"In giving such facility, we won't raise any question and none will be questioned. Sometimes the money and assets become undisclosed due to the system," he said.
Elaborating on the issue, the finance minister informed that some 17 countries of the world including US, Canada, Germany, France, UK, Norway, Indonesia and Malaysia have given such amnesty.
Kamal dismissed various media reports that stated that around Tk 64,000 crore has been laundered from Bangladesh. He said there is not exact figure on how much money has been laundered.
However, whatever the real amount is, the minister said, with existing laws, the government will be able to return laundered money.
He also hoped that all concerned would avail themselves of such opportunity in the next budget and thus send back their money and assets to the mainstream of Bangladesh’s economy.
At the press conference, he said the new expectations of the people and facilities for them were considered in the budget.
“The budget emphasises modernisation and the use of technology in every sector,” said Kamal.
Agriculture Minister Muhammad Abdur Razzaque, Education Minister Dipu Moni, Health Minister Zahid Maleque, State Minister for Planning Dr Shamsul Alam and Bangladesh Bank Governor Fazle Kabir, among others, were present.
