Mercedes worth $100,000 imported for $20,000: Governor

Money has been laundered in the guise of import-export by making false declaration, Bangladesh Bank governor Abdur Rouf Talukder has said again.

While presenting a picture of imports in the last several months, he said letters of credit (LCs) have been opened at low prices for high price products and the remaining money has been laundered.

In the inauguration of a three-day development conference of Bangladesh Institute of Development Studies (BIDS) on Thursday, Abdur Rouf Talkukder delivered some examples of false declaration for importing commodities.

 

He said a LC of 20,000 dollars has been opened to import Mercedes-Benz which actually costs 100,000 dollars. The remaining money has been laundered.

Over invoice (showing higher import costs) has been done in different imported commodities from 20 to 200 per cent. Such astonishing 100 LCs have been stopped in July last.

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