Bangladesh Jeweller's Association (BAJUS) President and Bashundhara Group Managing Director Sayem Sobhan Anvir has demanded tough action against the gold smugglers through amending the law.
"Many smugglers skip punishment due to loopholes of law. If necessary, the law should be amended to make the gold smuggling as non-bailable offense, " Sayem Sobhan Anvir told a meeting at Bangladesh Bank head office in the capital on Thursday.
Terming gold smuggling root of economic malaise, he said such illegal handling of the precious metal accounts for money laundering and dollar crisis.
A delegation of Bangladesh Juweller's Association (BAJUS) held a meeting with high officials of Bangladesh Financial Intelligence Unit (BFIU) at the central bank’s office to find ways to stop gold smuggling.
BFIU Chief Masud Biswas and BAJUS President Sayem Sobhan Anvir led respective sides at the meeting.
Speaking at the meeting, Sayem Sobhan Anvir proposed partnership between BFIU and BAJUS for combating gold smuggling together.
"We will work together nationally to provide all support to stop money laundering and gold smuggling," he said.
BAJUS leaders urged the BFIU to strengthen drives as Tk 730 billion is being laundered annually through gold smuggling.
The trade body of gold industry placed a seven-point demand during the meeting with BFIU officials.
Head of BFIU Masud Biswas said intelligence unit of central bank has taken 'zero tolerance' measures to fight money laundering and terrorist financing.
The central bank official mentioned that the existing law has defined BFIU as reporting agency on gold traders considering the risk of gold smuggling.
BAJUS former presidents Gulzar Ahmed, Enamul Haque Khan, vice president Anwar Hossain, and general secretary Dilip Agarwala were also present on the occasion.
Former president Enamul Haque Khan said BAJUS will work with BFIU to boost awareness against ills of smuggling among gold traders and common people.
General secretary Dilip Kumar Agarwala said the trade body will share data with BFIU to fight gold smuggling together.
BAJUS leaders demanded a joint monitoring committee in participation of the Bangladesh Bank, National Board of Revenue (NBR) and BAJUS.
They also demanded strengthening anti-smuggling drives of police, RAB and BGB.
Earlier, BAJUS president Sayem Sobhan Anvir wrote to the home and finance ministers and the National Board of Revenue chairman, urging them to give the members of law enforcement agencies and customs 25 percent of gold seized during drives as reward.
BAJUS, a platform of 40 thousand jewellery retailers, made the proposal to inspire the law enforcers to strengthen their efforts to prevent gold smuggling.
BDST: 2117 HRS, NOV 24, 2022