Dhaka, Bangladesh (BBN)-The Bangladesh government has sought details on its citizens who parked untaxed wealth in Swiss bank accounts, Sheikh Hasina said Saturday.
Hasina, the premier of Bangladesh, make the disclosure during her budget session at the Jatiya Sangsad.
The money which belongs to the country will be brought back, reiterated.
The move was taken following Bangladesh Bank’s latest move as deposits made by Bangladeshi nationals with different Swiss banks reportedly swelled by 62 percent to BDT 32.36 billion (372 million Swiss francs) in 2013 from BDT 19.91 billion in 2012.
Only a couple of days after the publication of that report, a study by the United Nations Development Programme (UNDP) claimed that Bangladesh lost on an average US$800 million annually in capital flight during the last four decades driven by balance of payment leakages, dubious trade invoicing and unreported remittances.
Experts concerned said the factors involving the flight of capital are multiple and without a close watch on the part of the agencies concerned it is hard to deal with the problem effectively.
BBN/AS/SS-28June14-12:00pm (BST)