Insurance companies have been advised to play active role in combating money laundering and terror financing.\u00a0The suggestion came at a conference, of the chief executives of the country\u2019s insurance companies, held in the city on Sunday.\u00a0Addressing the conference, Bangladesh Bank governor Atiur\u00a0Rahman said Bangladesh already\u00a0came out of the gray list of Terrorism Financing of the Financial Action Task Force.
\n\u2018This has been a great achievement for the country, but we should make our anti-money laundering and anti-terror financing activities and
\nmanagement more effective to keep this success beneficial to the nation,\u2019 Atiur said.
\nThe governor said as per the rules and regulations of the FATF and its regional body, Asia Pacific Group on Money Laundering and the implementation process of FATF recommendations by Bangladesh would be reviewed in 2015, which is known as mutual evaluation.
\nHe advised all insurance companies to play due and active role in fighting against money laundering and terror financing so the mutual evaluation process goes well.
\nM Aslam Alam, secretary,
\nbanking and financial institutions department of the finance
\nministry, told the conference that the country needed implementation of the FATF recommendations for combating money laundering and terror
\nfinancing.
\nHe suggested building awareness besides following the rules and regulations to fight against money laundering and terror financing.
\nBB deputy governor and Bangladesh Financial Intelligence Unit chief Abu Hena urged the chief executives and other staff of insurance companies to be more cautious about money laundering.<\/p>\n

-With New Age<\/strong> input<\/p>\n","protected":false},"excerpt":{"rendered":"

Insurance companies have been advised to play active role in combating money laundering and terror financing.\u00a0The suggestion came at a conference, of the chief executives of the country\u2019s insurance companies, held in the city on Sunday.\u00a0Addressing the conference, Bangladesh Bank governor Atiur\u00a0Rahman said Bangladesh already\u00a0came out of the gray list<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n