Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has formed a committee to prepare guidelines for combating money laundering and terror financing by the non-banking financial institutions (NBFIs).
The committee will include money laundering risk as a core risk along with the already identified four risk factors – credit, asset and liability, internal control and compliance – for the NBFIs, officials said.
The decision was taken at a meeting held at the Bangladesh Bank on Tuesday with executive director of the central bank Abul Quasem in the chair.
The five-member committee, headed by joint director Anwarul Islam, and comprising officials from anti-money laundering department and the department of financial institutions and markets of the BB, has been asked to submit their report to the authorities concerned by September this year.
The committee will prepare the guideline considering the existing acts and circulars, issued earlier, in this connection, they added.
BBN/SI/AD-26Aug10-12:18 am (BST)