YOKOHAMA (Japan), May 05: As a latest global report on capital flight sparks debate in Bangladesh, the finance minister hinted he would devise some budgetary deterrents to curb the illegal transfer of funds from the country.
Mr A M A Muhith, however, appeared a bit doubtful about the estimate that annual average illicit financial outflows from Bangladesh were worth US$7.58 billion through trade mis-invoicing and hot money transfer.
Global Financial Integrity (GFI), a Washington-based research organisation, came up with such estimation in its latest report released last week.
Nevertheless, he does agree that some capital flight or illegal transfer of financial assets is taking place through some loopholes.
"We've found out some loopholes and I am thinking for some steps in the next budget to check such outflow of funds," he said while talking to journalists in the Japanese city Friday.
Mr Muhith is now here to attend the 50th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB). The formal inauguration is taking place while other related meetings and sideline events had started three days ago.
The finance minister, however, did not elaborate anything on the budgetary steps.
In reply to another question he also said he was not aware whether any government body or organisation had ever conducted any survey to find out the actual amount of fund flowing out from the country annually.
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