Laws whitening black money for boosting national economy: Prevention or legalisation of corruption in Bangladesh?

The purpose of this article is to demonstrate that granting general amnesty to thousands of black-money holders in Bangladesh has failed to make any positive impact on the development of its securities market. Rather, such a move or mercy by the successive governments over the years has basically increased corruption in the country.

The article relies on both primary and secondary materials. An archival analysis of the materials has been carried out in this research.

The major findings are that whitening black money is legally flawed, morally indefensible and economically unsound; the ultimate outcome of the whitening opportunity appears to be the protection of corruption, the prevention of which is imperative for the sustainable development of the national economy of Bangladesh; and no credible evidence has been found to support the underlying assumption that this immunity offered over the past four decades has benefited the economy.

Its originality is evident in the analysis of the materials in a cohesive way to prove a hypothesis that the immunity granted to the black-money holders has been a flawed initiative of the successive governments of Bangladesh to increase investment.