5 months ago

Korean envoy for introducing technology to stop money laundering

Published :

Updated :

South Korean Ambassador to Bangladesh Lee Jang-Keun has stressed the introduction of the While List System for parallel or illegal import mobile handsets so that terrorists and extremists or money laundering entities cannot utilise PI phones.

The envoy said at his first meeting in his tenure with Posts and Telecommunications Minister Mustafa Jabbar on Tuesday.

The parallel or illegal import (PI) of mobile phones further complicates the industry’s business situation, hampering local manufacturing. PI phones have increased by more than 50 per cent, amounting to Tk 50 billion, for which the Bangladesh Government is losing its revenue up of to Tk 10 billion.

If the While List System is applied to PI phones, phones that are not registered with their International Mobile Equipment Identity (IMEI) number with the system will not work. By doing so, terrorists and extremists or money laundering entities cannot utilise PI phones.

Ambassador Lee adduced that if the White List system is ushered in Bangladesh, customers will desist from buying PI, thereby protecting legal distribution lines. As a corollary, manufacturers will increase investment, and more jobs will be created.

National security will also be enhanced in the absence of terrorists and criminals taking advantage of national communication due to the absence of IMEI, he added.

The envoy also stressed an increase in foreign investments in the Bangladesh Mobile Industry by fostering investment-friendly situations.

He stressed that South Korea have expressed their interest in further development of industrial and trade relations including the development of digital technology in Bangladesh based on mutual cooperation.

During the meeting, they exchanged views on various issues related to bilateral interests, especially in the field of digital technology and the production and marketing of digital devices including mobile sets and the reduction of VAT.

Ambassador Lee said, "The RMG cooperation has been the symbol and model of successful bilateral ties between Korea and Bangladesh for the past five decades."

Based on the success stories of cooperation in the RMG sector, Korea hopes to make other success stories in other sectors in the coming years, especially in infrastructure and ICT, says a media release.

Ambassador also stressed that the year 2023 will be a milestone year to elevate the Korea-Bangladesh partnership to a new height. Both countries are ready to celebrate 50th diplomatic anniversary together.

Share this news