https://en.somoynews.tv/news/2023-12-27/al-promises-stern-action-against-money-launderers

While announcing the election manifesto in Dhaka on Wednesday (Dec 27), party chief and Prime Minister Sheikh Hasina said effective measures will be taken against money launderers.

She promised to eradicate corruption and punish debt-tax-bill defaulters. The Awami League president said that their illegal money and property would be confiscated.

The government will ensure strict enforcement of the law to recover defaulted loans, she promised. The policy interest rate will be the main means and instrument to control the money supply and inflation.

She said Bangladesh has established itself as a dynamic and fast-growing global economic power in the last decade and a half. It is currently the 33rd-largest economy in the world in terms of national income.

The prime minister said during this period, the production and supply of various products and services have increased significantly thanks to revolutionary changes in the country's agriculture, industry and service sectors.

She promised that if the Awami League is elected, it will adopt necessary policies and strategies to implement the goals and plans.

Bangladesh has improved in combating money laundering and terror financing. It was ranked 46 among 152 countries in the Basel Anti-Money Laundering (AML) Index-2023. Last year, the country was positioned at 41 on the scale.

According to Global Financial Integrity, an average of Tk 64,000 crore is siphoned off from Bangladesh to different countries of the world every year, and a large part of it is smuggled out undercover of import-export trade.

The central bank formed a research cell last year to determine the effectiveness of the anti-money laundering system, strategies to prevent money laundering, and tactics for recovering laundered money.