Foreign Minister Dr. AK Abdul Momen expressed optimism on Saturday (May 27) regarding the potential of the new US visa policy to effectively combat the detrimental practice of money laundering to the United States.
Speaking to the media after attending an event at the International Mother Language Institute, he highlighted that US visas are commonly sought by affluent individuals such as government employees, politicians, businessmen, and certain members of civil society. He pointed out that those who possess the financial means to secure foreign education for their children and own assets are typically the ones involved in money laundering activities.
Dr. AK Abdul Momen underscored that these individuals engage in illicit practices to transfer funds from the country and invest in foreign assets. Implementing restrictions on such individuals, he noted, would help safeguard the country from financial losses caused by money laundering. While the government does not possess specific data on the exact amount of money laundered abroad annually, a US-based think-tank, Global Financial Integrity, estimated that Bangladesh incurred a substantial loss of $49.65 billion or approximately Tk 4,71,675 crore on average between 2009 and 2015 (excluding 2014). This loss primarily resulted from trade misinvoicing and under-invoicing, with an average of Tk 84,475 crore being siphoned off from the country each year during that period.
Addressing any concerns about the government’s reaction to the new visa policy, the foreign minister clarified that the issuance of US visas is solely the concern of the United States, not Bangladesh. He emphasized that the country would not engage in any clamor or fuss demanding US visas.
Regarding the return of special security protocols for the Indian and Saudi ambassadors, Dr. AK Abdul Momen stated that there is no lack of security in the country. He indicated that no ambassador has requested additional security measures thus far, and no foreign country has engaged in any wrongdoing that would make them potential targets for attacks. Therefore, he expressed confidence and reassured that there is no cause for concern in this regard.
