DHAKA, July 1: A total of Tk15,000 million of black money has been whitened in the last three days of June.

A total amount of Tk40,000 million of black money had been whitened in the fiscal year 2005-06 in Bangladesh, of which of Tk15,000 million has been whitened in the last three days of the fiscal year ending on June 30, say sources at the National Board of Revenue.

Notably, NBR Chairman Khairuzzaman Chowdhury went to the media on June 27 to announce that the board would initiate investigations against the holders of undisclosed money after June 30 -- the deadline for the money-whitening facility.

“We received striking response from black-money holders, after newspapers on June 28 run the strong commitment of action from the NBR chairman,” an NBR high official said on Saturday. “About Tk15,000 million black money was whitened between June 27 and 30, only 10 to 15 per cent of which took place on last Friday.”

The Bangladesh Bank ordered all commercial banks to remain opened on last Friday, the weekly holiday, to allow the black-money holders to avail of the last opportunity for whitening their money.

The government provided money-whitening facility for FY2005-06 at 7.5 per cent tax rate, instead of the highest 25 per cent rate applicable for individuals and 45 per cent for business entities.