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Bangladesh Jeweller's Association (BAJUS) President and Bashundhara Group Managing Director Sayem Sobhan Anvir has demanded tough action against the gold smugglers by amending the law.
"Many smugglers skip punishment due to loopholes of the law. If necessary, the law should be amended to make gold smuggling a non-bailable offence, " Sayem Sobhan Anvir told a meeting at Bangladesh Bank head office in the capital on Thursday, reports Daily Sun.
Terming gold smuggling the root of economic malaise, he said such illegal handling of the precious metal accounts for money laundering and dollar crisis.
A delegation of BAJUS held a meeting with high officials of the 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 the respective sides at the meeting.
Speaking at the meeting, Sayem Sobhan Anvir proposed a 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 the gold industry placed a seven-point demand during the meeting with BFIU officials.
Head of BFIU Masud Biswas said the intelligence unit of the 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.
Enamul Haque Khan said BAJUS will work with BFIU to boost awareness against ills of smuggling among gold traders and common people.
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, 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 per cent of gold seized during drives as a reward.
BAJUS, a platform of 40,000 jewellery retailers, proposed to inspire law enforcers to strengthen their efforts to prevent gold smuggling.
Bd-pratidin English/Golam Rosul
