Bangladesh has emerged as a country free of risk of money laundering and terror financing, downing fears that the country might re-enter the list for “slack implementation of laws”.
In current rating, Bangladesh avoided the International Cooperation Review Group (ICRG) and was declared a risk free nation, Bangladesh Bank said in a statement today.
Fears were on after Asia/Pacific Group on Money Laundering (APG), the global body that ranks countries, acknowledged Bangladesh of having “slack implementation of laws” in this regard.
The Mutual Evaluation Report of the APG acknowledged ongoing efforts against money laundering and terror financing compliant of international standard, the statement said.
Prime Minister Sheikh Hasina’s steps against money laundering, terrorism and terror funding has been widely acknowledged and lauded at the APG meeting held yesterday.
According to current standings, Bangladesh is better off than Sri Lanka and Norway, and, in some cases Australia and some other developed countries.
Earlier in the first quarter of this year, APG sent a draft assessment of Bangladesh’s efforts against money laundering and terror financing to the financial intelligence unit under the central bank.
Among the 11 indicators of the APG, Bangladesh was marked substantial in one indicator, moderate in five, and low in the remaining five, according to the draft assessment.
– Star Online Report
