Business Desk :
The Bangladesh Bank’s (BB) decision to allow foreigners to remit 80% of their income is positive. However, an integrated strategic policy is essential to eliminate irregularities in the recruitment of foreign workers, according to Transparency International Bangladesh (TIB).
Formulation and implementation of such a policy, with the participation of all concerned, will help prevent money laundering, TIB Executive Director Dr Iftekharuzzaman said in a statement on Wednesday.
“A large number of the foreign workers in different sectors in the country work illegally and remit their earnings through unauthorised transaction channels like hundi. As a result, the annual revenue loss due to tax evasion is about 12 thousand crores per year,” Iftekharuzzaman said citing a study published by TIB on 5 February 2020.
“However, the positive outcome from the central bank’s decision can only be expected if foreign workers take the opportunity given by the Bangladesh Bank and remit their income legally,” he added.
