The title of this piece – remittance and black money – seems awkward. Remittance is something that we all want; the Bangladesh Bank celebrates its increased flows
Black is defined as non-existence of colour while white is the opposite, combination of all colours. So, psychologically, white is supposed to be more desirable than black.
During the penultimate hours of the final budget deliberations, where black money whitening was on the card, the Minister of Finance revealed a startling finding from a little-known study that between 45 to 81 percent of the GDP of Bangladesh is derived from black economy.
The government has again succumbed to the pressure of whitening (legalising) black money. This did not come as a surprise: once the government permits whitening black money, the pressure to continue with it becomes irresistible.