Transparency International Bangladesh (TIB) has suggested the government to prevent tax evasion and money laundering by adopting 'Common Reporting Standard (CRS)' tostabilise foreign exchange reserves without burdening the people with foreign debt. Taking loan from the International Monetary Fund (IMF) and other international institutions is considered normal for stabilising foreign exchange
Tag: Money laundering
bKash celebrates anti-money laundering week
bKash is celebrating ‘AML & CFT Week’ to strengthen anti-money laundering and financing of terrorism activities in mobile financial sector (MFS) and increase customers’ financial security and awareness, a press release said Friday. The celebration is to mark the 20 years of journey of the Bangladesh Financial Intelligence Unit (BFIU). The week-long
Govt plans amnesty to bring back laundered money
Finance Minister says at cabinet body meeting Finance Minister AHM Mustafa Kamal has said that the government is contemplating amnesty for bringing the laundered money back into the country. "We're thinking of announcing amnesty for bringing the smuggled money back," he told reporters in briefing after the two consecutive meetings of
Strategies to prevent money laundering and financial crimes
Money laundering (ML) and financial crimes (FCs) are considered as a curse for the country’s economic growth. These criminal activities not only weaken the backbone of the economy but also put the country’s reputations at risk. Besides, the ML and FCs also enhance the cost of doing business especially for
PK Halder to be brought back home: Home Minister
Home Minister Asaduzzaman Khan Sunday said legal action will be taken against fugitive Bangladeshi businessman and former NRB Global Bank Managing Director Proshanta Kumar Halder alias PK Halder following the official announcement of his detainment by India. "India does not inform Bangladesh anything about the arrest of PK Halder, who is
Fugitive businessman PK Halder held in India
Fugitive Bangladeshi businessman and former NRB Global Bank Managing Director Proshanta Kumar Halder alias PK Halder, along with five others, were detained in Ashoknagar of the Indian state of West Bengal on Saturday. India's economic intelligence agency Directorate of Enforcement (ED) carried out search operations at various residential buildings linked to
MBL holds virtual training on prevention of money laundering
Mercantile Bank Limited organized a virtual training on ‘Prevention of Money Laundering and Combating Financing against Terrorism’ recently. A total number of 40 officials from various branches of Dhaka Region attended the online program. Shamim Ahmed, DMD and CAMLCO of the bank inaugurated the virtual training. In his address Shamim Ahmed insisted
$49.65b siphoned off from Bangladesh in 6 years
Over US$49.65 billion has gone out of Bangladesh through trade-based illicit financial flows (IFFs) only in six years, according to an international watchdog's findings on the money laundering between 2009 and 2015. The Global Financial Integrity (GFI) in its latest report, published on December 16, calculates the country figure from the
MBL organizes training on money laundering
A day-long Training Program on “Prevention of Money Laundering & Combating the Financing of Terrorism” was held on recently, said a press relrease. In Madaripur for the officials of different scheduled Banks operating in Madaripur & Shariatpur Districts. Mercantile Bank Ltd arranged the Training Program as Lead Bank under the guidance
FSIBL holds workshop on money laundering, combating financing of terrorism
First Security Islami Bank Limited (FSIBL) organized a daylong workshop on Anti Money Laundering & Combating Financing of Terrorism titled ‘BAMLCO Conference-2021’ with the participation of all Branch Anti Money Laundering Compliance Officers (BAMLCOs) of the bank. Mr. Md. Masud Biswas, Head (Current Charge) of Bangladesh Financial Intelligence Unit (BFIU) and