Saifur made the comment during a press briefing after meeting the newly appointed Tax Ombudsman Khairuzzaman Chowdhury at the secretariat.

He further said that there are legal constraints in divulging the identities of the black money whiteners.

"The black money holders will not have the opportunity to whiten their money in future if their names come out," he added.

The finance minister said he believes the Tax Ombudsman's Office will not be ineffective like the Anti-Corruption Commission (ACC).

Unlike the ACC, which is led by three people, the tax ombudsman administration is less likely to be affected by internal complexity as it has only one person at its helm, he noted.

Saifur urged Khairuzzaman to be extra cautious about the taxpayers from small and middle income groups, as they are more vulnerable to harassment.

Talking to the reporters, Khairuzzaman said he has already sent a proposal to the finance ministry regarding recruitment of the officials and infrastructure of his office.

The Tax Ombudsman's Office, to be housed temporarily at Tax Inspection Directorate, will start functioning after the ministry approves the proposal.

When asked how to react if an allegation of irregularity in tax assessment is brought against him, Khairuzzaman, former chairman of National Board of Revenue (NBR), said there is no chance of his being accused as the tax assessment is usually handled by field level staff.

"If allegations of corruption are levelled at me, I will forward those to the ACC for resolution," he said.