Nepal-Bangla deal on money laundering info exchange
Wednesday, 22 October 2008
FE Report
Bangladesh has signed a memorandum of understanding (MoU) with Nepal for exchange of information relating to money laundering.
The MoU was signed between the financial intelligence units (FIUs) of the respective central banks of the two countries in the conference room of Bangladesh Bank (BB) in the city Tuesday, officials said.
BB Executive Director and its FIU chief Abul Quasem and Nepal Rastra Bank Director and its FIU Chief Dharma Raj Sapkota signed the MoU on behalf of their respective sides.
Under the agreement, the FIUs will be empowered to share information between them on money laundering.
"We have signed the MoU with the central bank of Nepal aiming to exchange information about money laundering that will also help prevent anti-money laundering activities between Bangladesh and the Himalayan country," a BB senior official told the FE after signing the MoU.
He also said the central bank of Bangladesh is now working on similar agreements with, at least, 24 other countries including India, Pakistan, Sri Lanka and Indonesia.
On August 12 last, Bangladesh signed for the first time a similar MoU with the central bank of Malaysia for exchange of information relating to money laundering.
Besides, Bangladesh is now working on obtaining the membership of the Egmont Group to operate its FIU in line with the international standard.
"We are hopeful about obtaining the membership of the Egmont Group in the next annual meeting scheduled for June, 2009," the BB official said.
Bangladesh has signed a memorandum of understanding (MoU) with Nepal for exchange of information relating to money laundering.
The MoU was signed between the financial intelligence units (FIUs) of the respective central banks of the two countries in the conference room of Bangladesh Bank (BB) in the city Tuesday, officials said.
BB Executive Director and its FIU chief Abul Quasem and Nepal Rastra Bank Director and its FIU Chief Dharma Raj Sapkota signed the MoU on behalf of their respective sides.
Under the agreement, the FIUs will be empowered to share information between them on money laundering.
"We have signed the MoU with the central bank of Nepal aiming to exchange information about money laundering that will also help prevent anti-money laundering activities between Bangladesh and the Himalayan country," a BB senior official told the FE after signing the MoU.
He also said the central bank of Bangladesh is now working on similar agreements with, at least, 24 other countries including India, Pakistan, Sri Lanka and Indonesia.
On August 12 last, Bangladesh signed for the first time a similar MoU with the central bank of Malaysia for exchange of information relating to money laundering.
Besides, Bangladesh is now working on obtaining the membership of the Egmont Group to operate its FIU in line with the international standard.
"We are hopeful about obtaining the membership of the Egmont Group in the next annual meeting scheduled for June, 2009," the BB official said.