A conference was held at the initiative of the Bangladesh Financial Intelligence Unit (BFIU) and with the help of 'Association of Anti Money Laundering Compliance Officers of Banks in Bangladesh' (AAB). The conference was held on Friday (April 7th) at Hotel Radisson Blue in Chittagong.
The chief guest of the conference was the Governor of Bangladesh Bank. Ahsan H Mansur. BFIU Chief Officer A ZM Shahidul Islam presided over the function. Among others, Association of Bankers Bangladesh Chairman Selim RF Hossain and Acab Chairman Mahd Ziaul Hassan Kawla also spoke.
Executive Director of Bangladesh Bank, Deputy Head of BFIU, BFIU officials and officers of the five banks working in Bangladesh were present on the occasion to prevent money laundering.
Speaking to the chief guest, the Governor of Bangladesh Bank called the money to be smuggled and brought back abroad as one of the main goals of the current government. “BFIU, Bangladesh Bank and other government agencies are working together to bring back the money smuggled from Bangladesh through the formation of an anti-task force,” he said.
He also mentioned that the record amount of remittance flow in the banking channel has increased in recent times, which has reduced the risk of money laundering. However, due to the risk of money laundering and sensitive monetary policy, there has been some instability in foreign exchange rates and the overall economy. He believes that if the monetary policy is adjusted in the formation and implementation of the monetary policy, the return of the macroeconomic economy, it will be helpful to prevent money laundering.
The discussion identified the lack of institutional good governance as the main reason for irregularities, corruption and money laundering in the banking sector. The banks who have been able to ensure institutional good governance are now leading the country's banking sector, he said. Regarding the supervision of the central bank, he added, “If the effective supervision of the central bank was ensured, there would not have been such a crisis in the banking sector of the country. The present government is also considering the matter seriously. '
Acab Chairman Mahd Ziaul Haque emphasized on strengthening anti -money laundering and counter -terrorism finances (AML/CFT) compliance. Selim RF Hussein urged the risk -based monitoring system to prevent financing in money laundering and terrorist activities as well as to take effective measures to eliminate institutional good governance deficit.
The president of the program, BFIU chief officer AZM Shahidul Islam, uncontrolled loan flow in the banking sector, increasing defaulted loan rates, loan fraud, lack of corporate good governance and money laundering and hundi horrors, the country's economic stability, monetary stability, foreign reservoir, foreign reservoir. He also mentioned that due to the new challenges of the economy and various policy and timely initiatives of Bangladesh Bank, the remittance flow has already begun to have a positive impact on the reserve and foreign currency market.
He added that money laundering and terrorist financing risk in keeping the banking sector is to be emphasized to ensure a stable economic system. Besides, the role of corporate good governance was emphasized in ensuring transparency and accountability in the financial sector. He urged the banks to strengthen the AML/CFT compliance and monitoring of banks to ensure discipline and corporate good governance in the financial sector.
He also hoped that united efforts of all stakeholders, including the task force and the banking sector, would be helpful in preventing money laundering. During the discussion, the role of money laundering prevention was discussed to prevent the inconsistencies of the corporate sector and to prevent money laundering to resolve the crisis in the banking sector. In addition, new types of money laundering and various sessions on resistance strategy were held.
