The government moves to frame a new law to bring back the money siphoned off from the country.

Officials from the ministries of finance and law and the central bank will draft the proposed law, Mutual Legal Assistance Act, for the cabinet's perusal, according to the National Coordination Committee on Antimoney Laundering that sat yesterday at the finance ministry.

Finance Minister AMA Muhith chaired the meeting.

Under the new law, it will be an obligation for stockbrokers, portfolio managers, fund managers, nongovernmental and non-profit organisations to regularly update Bangladesh Bank on all suspicious transactions.

"All transactions in the stockmarket will be accountable under the proposed law," Muhith told reporters after the meeting.

However, the minister made it clear that the new law will not have any bad impact on the market.

Any manipulation and insider trading of shares will be treated as an offence.

The working paper for yesterday's meeting described any bid to control the market for personal interest through insider trading based on information about a publicly listed company from its staff as manipulation.