Economy
CIID says 4 Organizations forged documents, Tk 382cr smuggled
Customs Intelligence & Investigation Directorate (CIID) has found that 4 organizations have smuggled Tk 382 crore out of the country by forging goods export permits, an official said on Tuesday (14th March).
The organizations did not return their foreign exchange earned from the exported products, Mohammad Fakhrul Alam, Director General of the Customs Intelligence and Investigation Directorate (CIID), told a news conference to the media in Dhaka.
According to the CIID sources, 4 organizations are Sabiha Saiki Fashion, Asia Trading Corporation, Emu Trading Corporation, and Ilham Trading Corporation.
These organizations have exported various products including t-shirts, tops, ladies’ dresses, trousers, kids accessories, bags, polo shirts, jackets, pants, and hoodies to the United Arab Emirates, Malaysia, Singapore, Qatar, UK, Saudi Arabia and Nigeria.
The Directorate General (DG) said that after receiving complaints involving exports of goods by forging documents evidence of money laundering was found in the investigation.
Referring to the information found in the investigation, he said that Sabiha Saiki Fashion exported 86 consignments of goods at different times.
The exchange value of the products exported by them is Tk18.45 crore. On scrutiny of the documents of the consignments of the goods, it was found that the Export Permits (EXPs) issued by them were in the names of different companies.
A permit cannot be used for more than one export shipment. As a result, these EXPs are not functional. There is no opportunity to bring foreign currency back to the country in a legal way, Alam said.
The DG said the investigation revealed that in addition to Sabiha Saiki Fashion, 4 other organizations have committed similar fraud for exporting products.
“4 organizations have committed such fraud in shipments of 1,780 products using the same tactics. Against these shipments, 18,265 tonnes of goods have been exported, the declared value of which is around Tk 382 crores,” Alam added.
Sabiha Saiki Fashion exported Tk 21 crore, Asia Trading Corporation Tk 282 crore, Emu Trading Corporation Tk 62 crore, and Ilham Corporation Tk 17 crore.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
