There have been several incidents in recent times where goods have not been exported but money has been received. This brings to the fore the issue of money laundering hidden behind exports. Bangladesh Bank has given new instructions regarding such situations. From now on, Bangladesh Bank has made it mandatory to track the vessel containers of export products through the recognised tracking method. In other words, the banks have to ensure that the payment has been made for the exported goods through container tracking.
On Wednesday (20 April), the central bank’s Foreign Exchange Policy Department issued a circular confirming the shipment of exported goods and sent it to the authorised dealer (AD) banks.
Until now, shipment tracking was mandatory in case of receiving cash assistance in exchange for the export of goods through transport documents issued only by freight forwarders.
