News Desk :
Bangladesh ranked 52nd out of 141 countries in the Financial Secrecy Index (FSI), a global ranking of countries most insidious in helping individuals to hide their wealth from the rule of law.
According to Tax Justice Network (TJN), which issues this bi-annual index, Bangladesh climbed two notches from the 54th position it held two years ago.
The report published on Tuesday noted that the supply of financial secrecy services, like those utilised by Russian oligarchs, tax evaders and corrupt politicians, has continued to decrease globally due to transparency reforms.
Bangladesh held an FSI value of 232, which is a measure, of how much financial secrecy the jurisdiction supplies, resulting
from the combination of the jurisdictions’ Secrecy Score and Global Scale Weight.
The report proposes that Bangladesh supplies 0.684% of the world’s financial secrecy.
The US topped the chart this year earning the worst rating ever recorded since the ranking began in 2009.
In South Asia, India ranked 36th, Sri Lanka 50th, Pakistan 74th, and Maldives ranked 91st respectively.
