By admin 
Financial advisor Dr Salehuddin Ahmed has announced plans to introduce policies that will ensure money laundering becomes impossible in the future.
Speaking at an event organized by BRAC University on Saturday, he acknowledged the substantial amounts laundered from Bangladesh in the past and stated that while efforts are being made to recover the funds, the process will take quite some time.
“We are putting in place a policy framework that will prevent money laundering in the future,” said Dr. Salehuddin.
He highlighted the ongoing short-term reforms aimed at addressing the economic damage caused over the past fifteen years. “Some stability has been restored to the foreign exchange market, but radical changes in the economy cannot be made overnight,” he added.
A new path forward
Dr. Salehuddin explained that the interim government is laying the foundation for future governments. “We are paving a new path that should help the board move forward. If corruption rears its ugly head again, public outrage could return,” he warned.
The event, titled ‘Financial and Economic Reforms in Bangladesh’, organized by BRAC Business School, included discussions on pressing challenges and necessary reforms for the country’s financial sector.
Inflation and transparency
To address concerns about inflation, Dr. Salehuddin attributed this to flawed policies of the previous government and inaccuracies in data reported by public institutions. “There has been a lack of transparency and accountability, which has led to corruption and injustice. The people of Bangladesh are paying the price,” he said.
Stressing the need for accurate data, he stated: “Incorrect information leads to poor policy formulation. I have instructed the Ministry of Finance to ensure the accuracy of the data.”
Inefficient projects and loans
Dr. Criticizing the approval of projects without proper feasibility studies, Salehuddin said: “Loans were taken at high interest rates without considering project revenue or cost. We have rejected offers for high-interest loans because they would have been unsustainable.”
He also criticized the previous governor of the Bangladesh Bank, who claimed that $12 billion in reserves were spent to stabilize the foreign exchange market but no meaningful results were achieved. “This policy legacy hinders rapid change, even when it is urgently needed,” he said.
Calls for broader reforms
Dr. Debapriya Bhattacharya, Honorary Fellow at the Center for Policy Dialogue (CPD), expressed his concerns during his speech. He argued that the country’s development narrative has politicized the data, creating an imbalance between growth indicators and economic reality.
“GDP is rising, but private sector investment and tax-GDP ratios remain stagnant at 8-9 percent. Where does all that money go?” asked Dr. Bhattacharya, pointing to signs of a “middle-income trap.”
Stressing the need for comprehensive state reforms, he stated: “Economic stability must come first. ‘Two-paisa reforms’ will not be enough to resolve structural imbalances.”
An urgent call for stability
Both speakers emphasized the importance of stabilizing the exchange rate and controlling the prices of daily commodities. They urged the interim government to act quickly to restore public confidence in the economy.
Selim RF Hossain, CEO and Managing Director of BRAC Bank, and Farzana Lalarukh, Commissioner of the Bangladesh Securities and Exchange Commission, also spoke at the event and endorsed the need for robust reforms to address systemic economic challenges.
The dialogue provided a platform for policymakers, economists and stakeholders to discuss actionable strategies for financial reform, with the common goal of achieving long-term stability and sustainability.