TDS  Desk:

Bangladesh Bank Governor Dr Ahsan H Mansur has claimed that the establishment of good governance has effectively stopped money laundering in the country.

He made these remarks at the opening ceremony of a global conference titled “Branding Bangladesh: NRB and UN Peacekeepers Leading the Way,” organized by the Centre for NRB at the Sonargaon Hotel in Dhaka on Saturday.

Dr Mansur highlighted that remittance inflows have reached record levels despite ongoing political unrest.

“In the last five months, remittances increased by $3 billion, while exports grew by $2.5 billion,” he said.

The governor assured that there is no reason to panic, noting that Bangladesh Bank currently has reserves sufficient to cover four months of imports.

However, he urged caution, emphasizing that the economy remains stable due to the return of good governance in the banking and anti-money laundering sectors.

Dr Mansur expressed concern over the political identity crisis among the Bangladeshi diaspora, urging expatriates to lobby for Bangladesh to strengthen its global standing.

He also urged overseas Bangladeshis to use formal banking channels for remitting money.

Referring to a troubling trend, Dr Mansur said: “Dubai has surpassed Saudi Arabia as the top source of remittances, but this is not a positive sign. Money is often routed through Dubai before arriving in Bangladesh, indicating possible currency rate manipulation by some institutions in Dubai.”

The governor pointed out that the government provides a 2.5% cash incentive for remittances sent through banking channels, costing Tk7,000 crore annually.

Dr Mansur shared that in December 2023, Bangladesh recorded its highest-ever single-month remittance inflow, amounting to $2.6 billion. He described it as a historic milestone for the country’s economy.