These cases of illegal property purchase abroad are not the main acts of corruption – these are the symptoms. As corruption increases, the trend of money laundering abroad goes up, which in turn gives rise to hundi and export-import misinvoicing. Although these incidents provide some insight into the ongoing corruption and money laundering, they are only the tip of the iceberg. Laundering money in these ways is adversely affecting our forex reserves. Despite various efforts, including curbing imports, the forex reserves has been declining by $1 billion per month for the last two years.

Source: bd News24 October 20, 2023 20:55 UTC