DHAKA, June 16, 2021 (BSS) – Apparently backing up the possible currency swap deal with Sri Lanka from the foreign currency reserve, Finance Minister AHM Mustafa Kamal today said that if the country can be benefitted using the foreign currency reserve, it is not a bad thing.
“According to our capacity, if there is any scope we will provide ……….if we can become benefitted through using the foreign currency reserve, in that case, it’s not a bad thing. Rather, it’s good,” he said.
The Finance Minister was replying to questions of reporters after chairing two separate meetings virtually on the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP).
Kamal said the currency swap deal is yet to take place as per his knowledge while discussion is still going on in this regard.
“When we’ll provide such loan, the whole of Bangladesh will come to know,” he said adding that if Bangladesh can take loans, then it can also provide loans.
The Finance MInister said that such kind of initiative would also strengthen country’s relationship with the recipient country. “If we get good return, then why not (proving such loans from foreign currency reserve)?”
In May this year, Bangladesh agreed to give Sri Lanka loans of at least $200 million from the foreign exchange reserves under a currency swap deal.
This is the first time Bangladesh is giving loans to another country from the reserves by swapping currency.
When asked about the government’s steps to check the trend of money laundering, Kamal said that a good number of new and amended draft laws would be brought to parliament in this regard.
He said if the pending cases related to money laundering are resolved in a speedy manner and thus the culprits could be brought to the book, then the trend of laundering money abroad will reduce to a big extent. “Many of the accused in money laundering are in jail,” he added.
The Finance Minister said alongside the countrymen, he also feels pain in mind seeing the trend of money laundering. “We’ll have to keep at first the right system in place. If the system remains in operation, it will be possible to identify those who launders money and thus nab them.”
Pointing out some reasons of money laundering, Kamal said there are some people who launders money abroad out of greed while there are also some people who launder money abroad out of their characteristic nature.
“If those individuals can be tracked down properly, legal steps can be taken against them,” he added.
Replying to another question, the Finance Minister said that the Bangladesh Bureau of Statistics (BBS) has not gone below standard.
Considering the pandemic situation, he said that the BBS would be able to accomplish their task in due time while the Planning Minister would be able to reveal the GDP growth rate also in due time.
Replying to another question on the status of non performing loan, Kamal said he would bring the latest data from the central bank and thus talk about this matter after the next meeting.