Bangladesh has slipped further in financial transparency, making it easier to conceal financial information, according to the Financial Secrecy Index (FSI) 2026 published by the UK-based research organization Tax Justice Network (TJN).
The country now ranks 47th globally among nations enabling financial secrecy, dropping three positions from its 50th-place ranking last year.
In the 2026 index, Bangladesh's total value or score stands at 208, signaling a relaxation of regulatory oversight and increased opportunities to hide wealth.
The global index assesses countries based on how much their legal and financial systems allow individuals and corporations to hide money.
In contrast to Bangladesh's decline, neighboring India has improved its position by one step, ranking 25th.
Pakistan has also shown progress compared to previous years, while Sri Lanka recorded an increase in financial secrecy.
The United States tops the global list as the largest enabler of financial secrecy, followed by Switzerland, Singapore, Hong Kong, and the United Arab Emirates (UAE).
The TJN report highlights several critical structural weaknesses within Bangladesh's financial framework that facilitate tax evasion and capital flight:
- Hidden Corporate Ownership: Strong secrecy provisions remain regarding the actual beneficial ownership of companies and trusts, allowing individuals to shield assets from authorities.
- Low LLP Transparency: Transparency measures governing Limited Liability Partnerships (LLPs) are noted to be exceptionally weak.
- Corporate and Real Estate Loopholes: High levels of secrecy persist around corporate annual accounts, foreign investment income, and tax compliance. Furthermore, the ease of concealing ownership details in the real estate sector has heightened risks of laundering illicit funds through property.
Despite the overall decline, the report notes positive advancements in Bangladesh's anti-money laundering policies and the publication of official government statistics.
Performance also remained stable regarding the transparency of tax rulings and mineral sector contracts.
Experts warn that the findings serve as a major warning for Bangladesh's macroeconomy.
The lack of transparency regarding beneficial owners directly facilitates tax evasion, starving the state of essential revenue needed for public infrastructure, education, and healthcare.
The report concludes that urgent legislative and institutional reforms are mandatory to enforce corporate accountability, curb illicit capital flight, and restore the integrity of the nation's financial system on the global stage.