Thrust on capacity building in finance management
Tuesday, 5 October 2010
FE Report
A good number of vested quarters are currently financing terrorism threatening the country's sovereignty, speakers told a roundtable meeting Monday.
The speakers suggested that the government should use all its mechanisms to eliminate the loopholes that paves the way for misuse of funds.
Bangladesh Institute of Peace and Security Studies (BIPSS) organised the meeting on 'Countering the Financing of Terrorism' at a city hotel.
Capacity building in finance management, and awareness across the financial community are needed to face the problem, they opined.
Major General (Retd) Muniruzzaman, President of BIPSS, said, "The recent activities of many organisations operating particularly with the foreign NGOs money need to be closely monitored".
Though the country has enacted Anti Money Laundering (AML) law, but the level of capacity enforcement remain very low, he added.
Security specialist Muniruzzaman, stressed on implementation of AML Act to resist financing of terrorism effectively.
Dr Arabinda Acharya, a Research Fellow of International Centre for Political Violence and Terrorism Research, Singapore, presented keynote paper in the roundtable meeting.
Dr Acharya said "Authorities lack of capacity to investigate and prosecute ML offences gives the chance of proceeds of crime to the terrorists."
Dr Syed Mahmud Ali, former BBC journalist, thinks implementation is the main problem of the existing law to avoid the risk of terrorism financing.
Nitish Kumar Roy, Deputy General Manager of Pubali Bank and Mehbur Rahman, a Bank Consultant, among others, participated in the roundtable meeting.
A good number of vested quarters are currently financing terrorism threatening the country's sovereignty, speakers told a roundtable meeting Monday.
The speakers suggested that the government should use all its mechanisms to eliminate the loopholes that paves the way for misuse of funds.
Bangladesh Institute of Peace and Security Studies (BIPSS) organised the meeting on 'Countering the Financing of Terrorism' at a city hotel.
Capacity building in finance management, and awareness across the financial community are needed to face the problem, they opined.
Major General (Retd) Muniruzzaman, President of BIPSS, said, "The recent activities of many organisations operating particularly with the foreign NGOs money need to be closely monitored".
Though the country has enacted Anti Money Laundering (AML) law, but the level of capacity enforcement remain very low, he added.
Security specialist Muniruzzaman, stressed on implementation of AML Act to resist financing of terrorism effectively.
Dr Arabinda Acharya, a Research Fellow of International Centre for Political Violence and Terrorism Research, Singapore, presented keynote paper in the roundtable meeting.
Dr Acharya said "Authorities lack of capacity to investigate and prosecute ML offences gives the chance of proceeds of crime to the terrorists."
Dr Syed Mahmud Ali, former BBC journalist, thinks implementation is the main problem of the existing law to avoid the risk of terrorism financing.
Nitish Kumar Roy, Deputy General Manager of Pubali Bank and Mehbur Rahman, a Bank Consultant, among others, participated in the roundtable meeting.