Gold-diamond smuggling causes siphoning off Tk 91,250cr annually

Bangladesh Jeweller's Association (BAJUS) today (June 3) said more than Tk 91,250 crore is being laundered annually through gold and diamond smuggling.

The top body of the Jewellers also said that smugglers are laundering this money through 'Hundi'.

BAJUS officials made this remark in a press briefing organized at its office in the capital’s Bashundhara city shopping complex.

The press briefing was organized demanding intense action by law enforcement agencies including customs against the ongoing crisis in the jewelery industry across the country and the violence of local and foreign smuggling syndicates, money laundering and smuggling.

At the event, BAJUS advisor Ruhul Amin Rasel, vice president executive committee and chairman of BAJUS standing committee on anti-trafficking and law enforcement, Md. Reponul Hasan, Vice President Masudur Rahman, Executive Committee Member and BAJUS Standing Committee Chairman Anwar Hossain and others were present.

Reponul said in a written statement that Bangladesh’s 30 districts share boarder with India, of which 6 districts (Kushtia, Meherpur, Chuadanga, Jhenaidah, Jashore and Satkhira) have become safe routes for the smugglers.

BAJUS initially doubts each day gold worth Tk 250 crore influxes in Bangladesh through water, land and sky route which end of the year totals to Tk 91, 250, said Reponul.

BAJUS official also said out of Tk 91, 250, gold Tk 80,300 crore and diamonds worth TK 10,950 crore arrived illegally in Bangladesh.

Gold and diamond smugglers smuggle this money abroad through hundi. As a result, the government is losing remittances. In the ongoing dollar crisis, BAJUS demands that the government take initiatives to stop the gold smuggling and money laundering, the official added.

To combat this, BAJUS proposed several measures: