Entire Bangladesh is allegedly infested with black money. There is no section of society which can claim to be free of black money, be it political, judiciary, bureaucracy and civil society. This huge black money has reportedly been laundered over the years to safer destinations abroad. Now the government desperately wants to bring this swindled money back into the country as a shield to foreign exchange crisis in the context of global economic instability.
Wishful thinking — the government is planning to bring laundered money back home the next fiscal year. The finance minister at a briefing after the two consecutive meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Public Purchase has told reporters that the government is contemplating amnesty regarding the swindled money. And Bangladesh Bank will make more announcements in this regard before the national budget is placed in the parliament this month. Allegedly, many of the crooked politicians, corrupt civil servants and other dishonest business people have transferred their illegal earnings to Swiss Bank, and bought properties and luxury apartments in foreign lands. So, why would they bring back the money in the country again.
Economists and local corruption watchdogs have slammed the government decision to allow the money launderers to bring back the black money by giving a small fine. Such an opportunity for the money launders, who amassed money through corruption, is unethical, unconstitutional, and a way to patronize them. But the government wants to use this money as a shield to foreign exchange crisis in context of global economic instability, they said, adding it will be in total disregard to the Money Laundering Prevention Act 2012.
The government made it easy to steal public money and laundered it out. It will not find easy to bring back the laundered money, especially when central bank itself is in a critical situation. An incompetent government remains incompetent all the way.
Nobody can save such a government other than following a safe way out. The crisis of mismanagement and large scale corruption has sealed it to end in chaos and bloodshed.
