Initiatives have been taken to recover smuggled money: Prime Minister

Prime Minister Sheikh Hasina has said that for the purpose of recovering money smuggled out of the country, to take the initiative of legal assistance agreement with 10 countries to get necessary information, evidence and other necessary assistance.

The Prime Minister gave this information in a written reply to a question by Opposition Chief Whip Mujibul Haque Chunnu in the National Parliament session on Wednesday (February 14). Speaker at this time. Shirin Sharmin Chowdhury presided over the session. Wednesday is presented at the Question-Answer Table.

The Prime Minister said, ‘Prevention of Money Laundering Act, 2012 is currently in force in Bangladesh to prevent money laundering. Last revised on November 26, 2015. According to the provisions of this Act money laundering is defined as money laundering offence. Money laundering offense is punishable by imprisonment for a minimum of 4 (four) years and a maximum of 12 years. Additional offenses include confiscation of the property in favor of the state and a fine equal to twice the value of the property or Tk 10 lakh

He said, ‘Mutual Assistance in Criminal Matters Act, 2012 has been promulgated to ensure mutual legal cooperation with various countries to facilitate the repatriation of money laundered abroad. The Ministry of Home Affairs is acting as the central authority to provide mutual assistance in matters related to crime under this Act. Besides, the task force formed under the leadership of the Attorney General to bring back money smuggled abroad to Bangladesh is working to recover the money.
Sheikh Hasina said, ‘In order to recover the money smuggled from Bangladesh, necessary initiatives have been taken regarding the signing of the mutual legal assistance agreement with 10 countries to get the necessary information, evidence and other necessary assistance. A strategy paper has been formulated on recovery of laundered money, which has been sent to all relevant ministries, departments and organizations to implement the recommendations of the strategy paper after approval by the National Coordinating Committee formed to prevent money laundering and terrorist financing. Besides, a guideline has been formulated by BFIU on recovery of laundered money, which has been approved by the National Coordination Committee.
Stating that inflation will soon be under control, the Prime Minister said, ‘Inflation is expected to come down significantly in 2024 in important economic countries including the United States and the European Union. In this situation, it is expected that the price inflation will come under control soon due to the decrease in the price of fuel, food products and fertilizers in the world market, adjustment of fuel oil prices in the country and government initiatives to keep the food supply situation normal. Finally, despite the various challenges in the macroeconomics, Bangladesh has been able to maintain its position as a fast-growing economy in the Asia-Pacific region.

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