New laws can cut money laundering: Kamal

Finance Minister AHM Mustafa Kamal yesterday said it would be possible to check money laundering by enacting new laws, creating investment-friendly environment and bringing the culprits into book by resolving pending money laundering cases.

He made the comment at a virtual press briefing following the meetings of cabinet committees on public purchase and economic affairs.

Money laundering will decline to a great extent when 15 laws, including new and amendments, will come into effect, said the minister, who expected that the laws would be passed in the parliament in the next six months.

System needs to be developed to identify the money launderers so that they can be brought under the legal procedures, he said.

If the numerous money laundering cases, which have remained pending for long, can be resolved speedily and the culprits get punished the trend would decline, he said.

He also opined that if good environment for investment can be created in the country many who tries to smuggle money for doing business abroad would be discouraged.

The minister said he gets upset just like the general masses when the issue of money laundering comes forward.

In reply to a question regarding a ruling party lawmaker's remark in a post budget discussion that they go to parliament only to say 'yes' or 'no' and that they cannot discuss a lot on the budget, the finance minister said the parliamentarians are supposed to 'yes' or 'no' at the time of passing any bill and this is the rule.

And there is also opportunity to talk if anybody wants to say anything on any bill, he said.

"I have no idea about what his (the lawmaker) point is," he said. 

Saber Hossain Chowdhury, chairman of the parliamentary standing committee on the environment, forest and climate change ministry, made the remark at a virtual budget discussion organised by the Centre for Policy Dialogue on June 12.