Money laundering increases ahead of polls

The amount of money laundered has increased dramatically ahead of the next national election, economists claim, citing the rise of the dollar’s price as evidence.

Price of the greenback is on the wane in the international market but it is seeing an upward trend in Bangladesh. Economists say this is common in the election year.

“Dollar price is rising in Bangladesh at a time when it is falling in the international market. There is certainly some big weakness behind it. There could be some things hidden behind import. This happens in the year of the election,” Policy Research Institute’s (PRI) Executive Director Ahsan H Mansur said.

A senior Bangladesh Bank official said: “The price of the dollar increased against take because of a rise in money laundering through hundi. Bangladeshi taka is being sent to Malaysia, Singapore, Australia and Canada. Many

... read more at: http://www.dhakatribune.com/business/2018/02/08/money-laundering-increases-ahead-polls/

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