PM Lee explains to Indian govt: Singapore has no interest in being a money-laundering centre
Posted by temasektimes on July 13, 2012
The White Paper on ‘Black Money’ was tabled in the Indian Parliament on May 21 this year. For some strange reasons, the authors of the paper were not sued for defamation by PM Lee or the Singapore government.
Speaking to the Singapore and Indian media in New Delhi on Thursday,PM Lee explained that Singapore is a financial centre with good standing so there was no reason for Singapore to do such shady business.
“We were a bit surprised to read the White Paper on Black Money which the Indian government published to find ourselves mentioned in patches there and to have it suggested that the amounts were disproportionate and there must be some round-tripping. It is not correct. We have informed the Indian government on this matter to put the record straight and explained why this is not so and they must be mistaken,” said PM Lee.
During his three-day official visit to India, Mr Lee met politicians from both the ruling party and the opposition, interacted with business leaders and addressed the Singapore symposium.