Abdur Rouf Talukder, who is the Governor of Bangladesh Bank, the central bank of Bangladesh, has underlined banks in the country should share some responsibilities for over-invoicing (a process used by businesses to launder money through imports) even as he hinted at banks’ failure to stop money laundering through imports.
The BB Governor reportedly maintained this while speaking at a workshop of Managing Directors and Chief Executives of banks and non-bank financial institutions in capital city Dhaka recently even as he reportedly underlined the central bank has noticed Bangladesh losing hard-earned foreign currencies due to the opening of letters of credit for import through over-invoicing because of the failure of banks in checking the actual market price of goods in some cases.
The central bank Governor further reportedly maintained the Government was losing revenue to under-invoicing even as he pointed out illegal channels to send remittances, as another factor causing the country losses of foreign currencies.