Bangladesh Bank (BB) has summoned bank account details of 28 money exchange houses in connection with illegal dollar trading and money laundering.
The BB officials have inspected 100 exchange houses based on intelligence reports involving illegal foreign exchange transactions out of 235 approved exchange houses.
Reviewing different documents, the central bank saw huge cash dollar transactions have occurred by a number of exchange houses. They are also behind in pushing upward the dollar exchange rate in the kerb market by spreading rumours among the people, reports UNB.
Md Serajul Islam, executive director and spokesperson of BB, said that Bangladesh Financial Intelligent Unit served the summons notices to the exchange houses on behalf of BB.
Earlier, the BB served show cause notices to 42 exchange houses for various irregularities in dollar trading. Among them, 5 have already had their license suspended pending investigation.
Law enforcers have been asked to take action against 9 establishments for doing dollar trading without a license.
Although just 235 exchange houses are licensed by Bangladesh Bank to participate in foreign exchange trade, it is estimated that more than 700 such exchanges are engaged in the dollar trade across the country under different guises.
The sector insiders have also said a number of individuals end up trading dollars, and other currencies for that matter, in floating transactions around the capital without permission or approval. But due to the lack of adequate manpower, the central bank cannot monitor the whole dollar and other foreign currencies trading.
