Customs officials have seized nearly 3,000kg of smuggled gold at the country’s international airports in the last three years.
Gold smuggling syndicates are a major security issue because they directly involve airline workers, airport, and security officials.
The security risks posed by smuggling syndicates operating with the collusion of corrupt individuals at airports make it an urgent priority to root out their activities.
Authorities estimate that efforts to apprehend gold smugglers are only successful in recovering 10% to 20% of the actual volume of gold that is smuggled every year into or through Bangladesh.
There can be no tolerance of the cancer of corruption and criminality and inherent security risks caused by gold smuggling. While greater vigilance and exemplary punishment of those found involved in smuggling is clearly necessary, it is also vital for the government to address the causes of gold smuggling.
Intelligence sources estimate that in terms of value, gold accounts for 95% of all smuggling items in Bangladesh, so anything that helps to curb gold smuggling syndicates would bring major benefits.
As gold is a legal product, the government should reform the legal framework to make it easier to import and export gold through legitimate channels. Much if not most of the gold that is smuggled is believed to be illegally shipped to India, so co-operation between Bangladesh and India on facilitating legal trans-shipments is imperative.
Such moves are important not only to curb criminality but also to help reduce the high domestic price for gold which limits Bangladesh’s jewellery industry’s efforts to export their products overseas.
The government must make sure gold import rules are fit for purpose in facilitating trade, rather than providing an incentive for smugglers.
