Govt must show political will to curb illicit financial outflows

Bangladesh lost an estimated $68 billion in illicit financial outflows over a decade between 2013 and 2022, placing it among the top 10 developing Asian countries for discrepancies in their trade with advanced economies.

The failure to check trade misinvoicing is a collective failure of the authorities, National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan said yesterday, describing the situation as “alarming”.