Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, May 27, 2019 10:29:28 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Deposits with Swiss banks

No initiative to recover ill-gotten money

By Special Correspondent
07th-Jul-2017       
Comments
Share your thought
Post a comment »
Read all () »

The government will go for legal action over the illegal money depositing by some Bangladeshi nationals with the Swiss banks, if the Bangladesh Bank (BB) shows interest about the matter.
"Only the Financial Intelligence Unit [FIU] of the central bank has the authority to initiate an investigation over the siphoning off money. So, if the BB wants, the government will take initiatives for legal step in this regard," Attorney General Mahabubey Alam said on Thursday.
The statement of State's Chief Law Officer came at a time when the ruling Awami League government has been facing widespread criticism at home and abroad over the large-scale money laundering by the local billionaires with the Swiss banks.
Quoting the latest data of the central bank of Switzerland, a report recently carried out by  local and international media, said the amount of money deposited by Bangladeshi nationals with the Swiss banks has increased by 10 per cent in 2015.
The report said total funds held by the Bangladeshis with the Swiss banks stood at CHF [Swiss francs] 559.25 million or US$ 571 million last year. That means, the amount is almost double to the annual budget of some ministries, including Food Ministry for 2017-18.
In an instant reaction, BNP Chairperson Khaleda Zia had accused the ruling party men of siphoning off their ill-gotten huge money and demanded the government to disclose the names of those Bangladeshis who deposited the money with the Swiss banks.
The BNP Chief said: "Around taka five thousand five hundred crore has been siphoned off this year. Newspapers ran reports that many Bangladeshis have deposited huge money with the Swiss banks. We want to know the identities of those who did it and the amount of their money."
Although the Attorney General has shifted the responsibility of investigation on the shoulder of FIU of BB, the High Court in a verdict given in last June categorically said that Anti-Corruption Commission (ACC) could conduct inquiry over any alleged money laundering.  
Earlier, the ACC had lost authority to conduct investigation over money laundering in line with the 'Money Laundering [Amendment] Act, 2015' which was passed in 2015. According to the amended Act, the authority of investigation was awarded to BB's FIU and Criminal Investigation Department [CID] of Police.
Significantly, neither the Financial Intelligence Unit, nor the CID could dispose off any one of the cases since the formulation of the law for the reasons best known to them.  
The ACC, however, regained its authority to conduct investigation into money laundering case following a HC verdict given by a two-member bench led by Justice Enayetur Rahim on June 20.     The BB, earlier, claimed that initiatives had been taken to bring back money from the Swiss banks, but the latest data showed that nothing was done in this regard.  Not only that, it (BB) also failed to make any correspondence with SNB, its counterpart in Zurich, till date.
According to the data provided by SNB, the total money held in the Swiss banks by all their foreign clients from across the world dropped by nearly four per cent or over CHF 58 billion to CHF 1.41 trillion. But deposit by Bangladeshis has increased by 10 per cent.   

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Forced disappearances: There is no one to listen their call


FAMILIES of those who disappeared have been attending programmes in different areas over the last few years demanding the safe return of them. With photos of their loved ones, members of some 20 families of enforced disappearance victims gathered in front of the National Press Club under the platform "Mayer ...

Cricket »

Mehidy aims to cover up for Bangladesh's wristspin void


At a time when wrist spinners are in trend, Bangladesh will be heading into the world cup without one. And to be lagging behind in the spin department isn't something that the team has been traditionally used to. Young off spinner Mehidy Hasan believes his role, in the upcoming tournament, ...

Football »

Bologna's Federico Santander (right) scores a goal during the Italian Serie A soccer match between Bologna FC and SSC Napoli at the Renato Dall'Ara stadium in Bologna, Italy on Saturday.


International »

Iraq offers to mediate in crisis between its allies Iran, US


AP, Baghdad  :Iraq offered Sunday to mediate in the crisis between its two key allies, the United States and Iran, amid escalating Middle East tensions and as Tehran's nuclear deal with world powers steadily unravels.Iraqi foreign minister, Mohammed al-Hakim, made the offer during a joint news conference in Baghdad with ...

Sports »

A scene from the fifth round matches of the Walton International Rating Chess Competition at Bangladesh Chess Federation hall-room on Saturday.


Cricket »

Rubel eyes to finish World Cup as one of top five boawlers


Bangladesh speedster Rubel Hossain insisted on Friday he wants to finish the ICC World Cup 2019 as one of the best five bowlers.The right-handed pacer recovered from a side strain that prevented him to play all the matches during Bangladesh recent tri-series in Ireland. Before the main assault in the ...

International »

US troop move to ME dangerous for international peace: Iran's FM


AFP, Tehran  :Iranian Foreign Minister Mohammad Javad Zarif said Saturday a US decision to deploy 1,500 additional troops to the Middle East is a "threat to international peace," state media reported."Increased US presence in our region is very dangerous and a threat to international peace and security and must be ...

Editorial »

Take time-befitting diplomatic steps


THOUGH the foreign relation of Dhaka with New Delhi and Beijing is remarkably good, it is not working well especially in the Rohingya issue. Dhaka had requested both the nations for several times to mount pressure on Myanmar for Rohingya repatriation, but they kept limited their efforts in extending 'assurance' ...

Entertainment »

Dimple Kapadia bagged Christopher Nolan`s Tenet


Dimple Kapadia featuring in Hollywood director Christopher Nolan's Tenet has got everyone excited. From Bollywood celebrities to regular moviegoers, everyone has expressed their delight and congratulated the actress on social media for her achievement.  Dimple Kapadia's manager revealed to a daily how the actress bagged the role. The manager shared ...

Front Page »

290 migrants rescued near Tripoli


Egypt Independent , Tripoli :Libya's coast guard rescued 290 migrants clinging to inflatable rafts on Friday in two operations near the capital Tripoli, a naval forces spokesman said.The western coast of Libya is the main departure point of hundreds of thousands of migrants fleeing their countries from wars and poverty ...

Editorial »

HC concern over slow pace of banning toxic food items


THE High Court on Thursday rebuked Bangladesh Food Safety Authority (BFSA) for its failure of removing and destroying 52 substandard food products from the market. The HC earlier ordered the BFSA removing the substandard goods of 43 companies from the market but the BFSA did nothing except publishing only a ...

Entertainment »

Poppy, Hasan Jahangir’s Eid drama Nayikar Honeymoon


Sheikh Arif Bulbon :National Film Award winner actress Poppy earlier acted with actor and play director Hasan Jahangir in Innocent Love, Bhalobasha Du’jonai, Mental and Nayikar Biye. On the occasion of coming Eid to telecast on Asian TV, Poppy again paired up with Hasan Jahangir in a drama titled Nayikar ...

International »

Taiwan holds first gay marriages in historic day for Asia


AP, Taipei :Hundreds of same-sex couples in Taiwan rushed to get married Friday, the first day a landmark decision that legalized same-sex marriage took effect.Taiwan became the first place in Asia to allow same-sex marriage last week in a legislative vote on a cause that the island's LGBT rights activists ...

Editorial »

DMP fails to discipline city roads


TRAFFIC jam is a common scenario almost everyday in the capital city Dhaka. Usually, it intensifies every year during the Ramzan. This year it is no exception. But sufferings of commuters have been increased manifold this year because of constructing metro rail projects and unplanned digging in different areas under ...

Cricket »

T20 kings West Indies seek to make fresh World Cup mark


Can the West Indies take the form that has made them such a potent force in Twenty20 cricket into the World Cup?That is the question confronting Jason Holder's side as they head into the one-day showpiece in England and Wales that starts on May 30.The Caribbean team, who open their ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news