New law on cards to bring back laundered money
The government is going to enact another law styled Mutual Assistance Act to bring back the money laundered abroad and prevent terrorist financing.
The act is being drafted and it is expected to be passed by the Jatiya Sangsad in June next year.
Finance Minister AMA Muhith said this while talking to journalists following a meeting of the National Coordination Committee on Anti-Money Laundering held at the secretariat yesterday.
Muhith said when the law is made it will be easy for the government to get information regarding laundered money. At present separate agreements are signed with different countries for getting such information. But the new law will facilitate collecting information from all countries under a single agreement.
The finance minister could not say for sure how much money can be brought back, but he said information would be available. If there is any allegation of money laundering against anybody, specific charges could be brought against him.
An anti-money laundering global body named Financial Action Task Force (FATF), at a meeting last month in Paris, expressed satisfaction at the steps taken by Bangladesh against money laundering activities and terrorist financing.
This was mentioned at the coordination council meeting yesterday.
Bangladesh has already prepared an action plan on the advice of the FATF to amend anti-money laundering act and terrorist financing act. It will also prepare two reports in this regard.
For quick implementation of the action plan, a working committee headed by the banking secretary was formed at yesterday's meeting. It will include representatives of various ministries and departments concerned and regulatory agencies.
Besides, the meeting decided that a deputy secretary-level official will coordinate the work of related ministries and departments.
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