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An investigation committee of the Bangladesh Bank (BB) recommended Wednesday writing the name of
specific land port in the opening of letter of credit (LC) mandatory to check fake imports, official sources
said.
Besides, they suggested intensifying communications between the bankers and the custom officials to stop
alleged foreign exchange laundering using fake import documents, the official added.
The suggestions were approved at a meeting of the committee, held at the central bank Wednesday with its
chairman and Deputy Governor of the BB Mohammad A (Rumee) Ali in the chair.
"We will submit the report to the Ministry of Finance within a couple of days for taking next course of
actions in this connection," a BB senior official told the FE Wednesday.
Earlier, an 11-member committee on investigation for alleged foreign exchange laundering through fake
import documents was formed in line with the finance and planning minister's directives.
The committee recommended the government for taking short and long term measures to improve
surveillances among the concerned officials including land port authorities, customs and bankers to check
illegal imports.
The concerned custom officials have to submit their monthly statements relating to imported goods against
LCs to the bank concerned to assess the genuine import in the country.
The committee also suggested for improving the infrastructure facilities like setting up fax and installation
of internet among the land ports to provide information to the concerned banks and custom officials to meet
their emergency requirements.
Sources, however, said the committee finalised their recommendations on the basis of its four sub-
committee reports that were prepared in consultation with the concerned officials who are working in
different related fields.
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