Bureaucrats, not businessmen have 'laundered the most money abroad', says Apex Group’s Nasim Manzur

"And those businessmen who steal money, steal gas, catch them. Bring them to justice. But let responsibility for this not fall on us,” he says

Bureaucrats, not businessmen have “laundered the most money abroad”, says Apex Group Managing Director Syed Nasim Manzur.

He also highlighted that the entire business community does not want to take on the responsibility for the “theft and looting” conducted by a portion of businessmen.

At an investment dialogue organised by Bangladesh Investment Development Authority (BIDA) on Thursday, he said: "Businessmen are held responsible for money laundering. However, most of the money that has been laundered was done by bureaucrats. So, we businessmen do not want to take responsibility.

"And those businessmen who steal money or steal gas, catch them. Bring them to justice. But let responsibility for this not fall on us. Please stop this."

Earlier, Azam J Chowdhury, a businessman in the energy sector, called for opening up parts of the sector, including LNG imports, to private industry.

In response, Energy Advisor Muhammad Fouzul Kabir Khan, highlighted a policy of private companies joining the power sector. He went on to say that he “will not blame the private" sector, but the way it has developed in Bangladesh is through a form of crony capitalism.

"...If I say it very harshly, those who have become rich (in this country) are not those who put their savings in the bank day after day. Who are the rich? Who are the wealthy? The wealthy are those who do not pay taxes. That Rahman (NBR Chairman Mohammad Abdur Rahman Khan) will confirm. Who are the wealthy? Those who do not pay gas bills. Who are the wealthy? Those who do not pay electricity bills. For this, I do not want to blame you. It is the fault of our politicians."

With the remark, Advisor Fouzul concluded his speech. Nasim then spoke and said that all businessmen should not have to bear the responsibility for the actions of a few. He also spoke of bureaucrats and their involvement in money laundering.

His sentiments were later echoed by Tapan Chowdhury, managing director of Square Pharmaceuticals.