REHAB fears siphoning off money
The Real Estate and Housing Association of Bangladesh (REHAB) fears that huge money might be siphoned off abroad following a foreign company's call through recent newspaper advertisements to buy apartments in Dubai, reports UNB.
Such an illegal campaign will only encourage siphoning off money abroad at a time when the country's housing sector is in bad shape it' s an ominous sign for the country's real estate sector, the apex body of the real estate sector said in a statement.
Mentioning the Foreign Exchange Regulation Act 1947, the REHAB said there is no scope to buy apartments abroad. EHAB expects proper steps from the ministry concerned in this regard.