, June 28 -- BNP lawmaker AM Mahbub Uddin Khokon on Sunday proposed withdrawing all existing banknotes from circulation and requiring people to deposit their cash in banks within one or two months, allowing holders of undisclosed money to legalise it by paying a 25 percent tax.

Participating in the general discussion on the proposed national budget for the 2026-27 fiscal year in Parliament, he claimed such a move will bring large volumes of cash into the banking system, boost liquidity and generate fresh investment, helping the economy regain momentum.

The Noakhali-1 MP said Bangladesh must overhaul its financial system to curb money laundering, restore public confidence in banks and stimulate investment, arguing that existing mechanism...