Dhaka, Bangladesh (BBN)- Bangladesh has obtained the membership of Egmont Group, a forum of the Financial Intelligence Units (FIUs) of different countries, after five years of negotiations with the authorities concerned.
“It’ll help curb money-laundering and terror financing through exchanging information among its member countries,” Bangladesh Bank Governor Dr Atiur Rahman told reporters while announcing the achievement in respect of getting Egmont Group membership on Thursday.
Bangladesh got the membership at the annual general meeting of the Egmont in Sun City, South Africa on July 3, according to BB officials.
“Our FIU will be stronger through exchanging information relating to money-laundering and terror financing with other member countries after obtaining the membership,” the central bank chief said while explaining the main objective of the membership.
A FIU is a central, national agency responsible for receiving analysing and disseminating information to the competent authorities and disclosing financial intelligence report.
Among others, executive director and spokesperson of the central bank Mahfuzur Rahman and senior consultant of the BB Allah Malek Kazemi also spoke on the occasion.
However, the BB high ups did not respond to questions relating to Hall-Mark Group and BASIC Bank loan scams at the press conference.
In 2008, Bangladesh applied for the membership of Egmont Group to operate its FIU in line with the global standard.
Recognising the benefits inherent in the development of a FIU network, a group of FIUs met in 1995 at the Egmont Arenberg Palace in Brussels and decided to establish an informal group for the stimulation of international co-operation.
Now known as the Egmont Group of FIUs, these FIUs meet regularly to find ways to cooperate, especially in the areas of information exchange, training and sharing of expertise.
The Group has now 132 members across the world to promote and enhance international cooperation in anti-money laundering and counter-terrorist financing and to foster implementation of domestic programs in this field.
BBN/SSR/AD-04July13-9:38 pm (BST)
