'Gold, diamonds worth Tk 2.5 billion illegally enter Bangladesh every day'

Gold and diamonds worth Tk 2.5 billion are illegally entering Bangladesh every day, according to the Bangladesh Jeweller’s Association (Bajus).

Bajus officials gave the information at a pre-budget press conference at the Bajus office in Dhaka’s Bashundhara City Shopping Complex, UNB said in a report on Monday.

They called for stronger policy support and government intervention to combat the illegal trade. The association emphasized the need for law enforcement agencies to intensify efforts to stop smuggling activities.

Md. Ripnul Hasan, vice-president and chairman of its standing committee on smuggling and law enforcement, stated that approximately Tk 803.00 billion worth of gold and Tk 109.50 billion worth of diamonds are smuggled into Bangladesh annually.

“This illicit trade contributes to significant economic losses, including reduced remittances and increased money laundering,” he said.

The government must take decisive action to halt the annual smuggling of around Tk 912.50 billion, Bajus leaders said. The ongoing US dollar crisis exacerbates the urgency of this issue, they added.

Bajus highlighted that gold smuggling predominantly occurs through the borders of 30 districts adjacent to India, particularly in Meherpur, Kushtia, Chuadanga, Jhenaidah, Jashore, and Satkhira. Much of the smuggled gold is sent to India through these routes.