Bankers form anti-money laundering association

Bankers formed an association of anti-money laundering compliance officers with an aim to work closely and effectively with the Bangladesh Financial Intelligence Unit and other regulatory authorities, the association said in a statement yesterday.

The association said the move would help them in combating money laundering and terrorist financing and in efforts to extend cooperation to relevant agencies.

The chief anti-money laundering compliance officers (CAMLCO) and their deputies will be representing their respective banks in the association.

The association elected Faruq Mainuddin, chief anti-money laundering compliance officer of City Bank, as its chairman and Swapan Kumar Biswas, Mutual Trust Bank's CAMLCO, as the general secretary.

The association also elected vice chairmen from Janata Bank and Standard Chartered Bank, treasurer from Islami Bank Bangladesh and joint secretaries from Dhaka Bank and Bank Asia.

Other members of the executive committee have been taken from National Bank, Sonali Bank, United Commercial Bank, Eastern Bank, Dutch-Bangla Bank, One Bank, Exim Bank and NRB Bank.