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The Financial Express

FBCCI supports money whitening for investment in productive sector

| Updated: June 05, 2021 18:56:03


FBCCI supports money whitening for investment in productive sector

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has supported the whitening of undisclosed money for investment in the productive sector.

FBCCI President Md Jashim Uddin said this at a press briefing on Saturday.

"Our position is clear. The government may allow it for a limited time for productive uses", he said.

The FBCCI chief, however, said allowing it for an indefinite period will discourage genuine taxpayers.

The government is yet to decide whether to continue the facility.

Earlier on Friday, Finance Minister AHM Mustafa Kamal at a budget press briefing said the government would take at least a month to decide on the issue.

“There are pros and cons of whitening undisclosed money”, the minister said, adding it is injustice for genuine taxpayers as allowing it creates a money multiplier effect on the economy.  

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