• Monday, Mar 27, 2023
  • Last Update : 10:24 am

Finance Minister: Zero tolerance for corruption in financial sector

  • Published at 11:52 am June 7th, 2021
WEB_Finance Minister AHM Mustafa Kamal in parliament FY2021-22
FILE PHOTO: Finance Minister AHM Mustafa Kamal presents the proposed national budget for 2021-22 fiscal year in parliament, June 3, 2021 Focus Bangla

New laws to be made to stop corruption in the country's financial sector, says the finance minister

Finance Minister AHM Mustafa Kamal on Monday told the parliament that 15 laws will be enacted within the next one year as the government is pursuing a zero-tolerance policy against irregularities in the financial sector.

“I would like to assure you that you [the MPs] will see 15 laws in this parliament within the next six to 12 months to stop these irregularities,” Mustafa Kamal said.

The minister said while replying to a cut-motion placed by opposition lawmakers over allowing additional grant demand for the Finance Institution Division in the supplementary budget of FY21.

The finance minister said: “The syphoning off people’s hard-earned money hurts me like others.  I’m always against any irregularity, disorder, and corruption in any place under any circumstances. We all and our government want these to be stopped.”

Also Read - Finance Minister: No list of money launderers

He said there was a time when sand used to be imported in the name of cement and one product used to be brought in the name of another product. “Now under-invoicing and over-invoicing are hardly done. But I don’t say such things have stopped completely. We hardly see these things in the newspaper,” he added.

Kamal said he knows how such irregularities are committed but does not know who are doing these. “Once such things had happened due to inefficient systems and ineffective management. These things will have to be stopped completely.”

He said the government will frame new laws aiming to reform the systems in the financial sector. 

Also Read - Budget FY22: TIB applauds lack of provision to whiten money

“We’ll enact new laws so that our banks and financial institutions can run their activities smoothly with responsibility. We’ll create the scope. I’m assuring you.”

The finance minister said there is a zero-tolerance policy against corruption as asked by the prime minister.

Pointing at the opposition MPs, he said: “If you know who siphon off money, please give us their names. Since you (MPs) are in Parliament, you also have the responsibility like us. If you do so, it’ll be easier for us to take action against them.”

Kamal said many of those who committed such irregularities are still in jail and face trial unlike in the past.

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