Bangladesh Society for the Enforcement of Human Rights (BSEHR) yesterday expressed concern over the statement on money laundering through Swiss banks by the Finance Minister AMA Muhith MP in the Parliament recently, says a press release.
It has been reported in different newspapers that he (Finance Minister) said “there was scope of money laundering by depositing money in Swiss banks” but reality was that Bangladeshis laundered just a little amount of money. He is further reported to have said that there is business between Switzerland and Bangladesh and also that as Switzerland has a sound banking system, most neighbouring countries conduct their business with Bangladesh through the Swiss banks. Now international business can be conducted in the manner stated by our Finance Minister and the business houses can avail of prevailing exemption under treaties executed between Bangladesh and other countries for the Avoidance of Double Taxation. Nevertheless, tax returns will have to be submitted with details of permission from Bangladesh Bank under the Foreign Exchange Regulations Act, Banking Guidelines etc. which appears to have been condoned or omitted by the Minister. BSEHR is concerned that such statements may cause other countries to conclude that money laundering is tolerated by our democratic government especially when the world states are trying to place money laundering under “zero tolerance”.
Funnily, Bangladesh is a party to all international treaties and conventions that have treated money laundering as the concealment of the origins of illegally obtained money.
