Companies are “smarter” than the government, according to financial adviser Salehuddin Ahmed. They have been able to launder a significant amount of money due to their intelligence. “I now understand how many strategies are employed within businesses to launder money,” he remarked.

In Paltan, Dhaka, he spoke as the main guest at the opening of the Economic Reporters Forum (ERF) Institute’s academic program. The ERF-organized event also included a session titled “Financial Transparency in the Corporate Sector.”

Finance Secretary Md. Khairuzzaman Mozumder, Chairman of the Financial Reporting Council (FRC), Md. Sajjad Hossain Bhuiyan, Institute of Chartered Accountants of Bangladesh (ICAB) President NKA Mobin, and former Commerce Secretary Shubhashish Bose were among the speakers at the occasion.

The event was held by ERF General Secretary Abul Kashem and presided over by ERF President Daulat Akhtar. “Those involved in money laundering are extremely proficient in the topic,” the financial advisor stated. Money is laundered through a number of steps rather than being sent directly. It is first sent from one point to another, and then to still another.

According to Salehuddin Ahmed, there are both positive and negative aspects to the interim government’s operations. “Bangladesh has a very good reputation overseas. At an event yesterday, someone referred to the interim administration as “weak and incompetent.” Fascist elements are actually benefiting from such utterances. These tales, it seems to me, are bolstering Nazis and further undermining the interim government.

However, he noted, “that same person also stated that the interim government has boosted foreign currency reserves, stabilized the banking sector, and has not embezzled any money.” Therefore, not everything we do is harmful. Actually, we find that development partners have a very favorable opinion of Bangladesh when we talk to them.

“Audit should not be restricted to paperwork,” the financial consultant told the auditors. Additionally, you need to confirm the source and method of the funds’ creation. He pointed out that some media sources run stories that occasionally criticize the administration or have an impact on fascist groups.

He advised journalists to focus on responsible, constructive, and fact-based reporting. “When we highlight the positive aspects, it builds public confidence. But reckless reporting creates distrust,” he said.

Salehuddin Ahmed also praised the patriotism and integrity of many professionals working in both the public and private sectors and called on the media and training institutions to build a more disciplined and robust verification system.

Finance Secretary Md. Khairuzzaman Mozumder said that the advice of economists and analysts helps in budget formulation. “Last year, when the government was under pressure to control inflation and was reconsidering the nature of the budget, analysts suggested a contractionary budget. We initially planned a large budget, but on your advice, we made it smaller and more realistic. That credit goes to you.”

FRC Chairman Md. Sajjad Hossain Bhuiyan said efforts are ongoing to bring more transparency to the corporate sector. “The first document ensuring financial transparency is the audit report. If the value of assets is accurately reflected in financial reports, and loans are provided against those assets, banks will be able to recover them later.”