$7.0b to $8.0b laundered from Bangladesh annually: Shamsul Alam

Describing money laundering as the source of the dollar crisis, former state minister for planning Shamsul Alam has said $7.0 to $8.0 billion are laundered from Bangladesh annually.

He came up with the statement while addressing a discussion at the Bangladesh Agricultural Research Council (BARC) auditorium on Thursday, according to local news portals.

The economist and former bureaucrat said banks have to bear the burden of additional expenditure as 22 per cent of their loans are risky.

He stressed the engagement of expert economists through the formation of a high-powered committee or a commission to manage the situation.