The Bangladesh Securities and Exchange Commission has decided to form an anti-money laundering and combating the financing of terrorism cell as per the requirement of the Money Laundering Prevention Act 2012, a BSEC senior official told New Age.
The BSEC took the decision at a recent meeting presided over by its chairman M Khairul Hossain, New Age reports.
Forming an anti-money laundering cell or wing is mandatory for all the reporting authorities who are concerned with the issue, BSEC executive director Saifur Rahman said.
He also said that formation of the committee would help ensure better coordination among the reporting authorities which were working for prevention of money laundering from the country.
As per the decision of the commission, BSEC executive director Ruksana Chowdhury would head the committee, while BSEC ED Md Ashraful Islam, director Sheikh Mahbub Ur Rahman, deputy director Mohammad Zubair Uddin Bhuiyan and assistant director Mohammad Rakibur Rahman would be the members of the cell.
Bangladesh Bank earlier this year asked all the merchant banks, brokerage houses and all other institutions involved with the capital market to report any sort of suspicious transactions of fund that may involve money laundering or terror financing.
At present, Central Bank from its Bangladesh Financial Intelligence Unit supervises all the money laundering and terror financing related activities of the capital market.