Bangladesh’s economy suffers from gambling, hundi

Finance Minister Abul Hasan Mahmud Ali said the country is losing a lot of foreign currency as its economy is experiencing money laundering due to online gambling and hundi. 

On behalf of the foreign minister, Waseqa Ayesha Khan, state minister for finance, was responding to a written question from Awami League lawmaker M Abdul Latif on Thursday (May 9) afternoon at the Parliament session.

Speaker Dr Shirin Sharmin Chaudhury presided over the session.

The finance minister said transactions through digital payment services increased significantly in the country. Therefore, taking advantage of these technological developments, some corrupt elements have indulged in criminal activities such as online gambling, betting, gaming, forex, cryptocurrency trading and hundi, he added. 

As money laundering is also increasing, the country is losing a lot of foreign currency and the economy is suffering, said the minister.