The World Bank has been supporting the Bangladeshi government in strengthening the country’s efforts to better combat money laundering and the financing of terrorism, said the Washington-based lender Thursday.

In a statement, the bank said that it is providing technical assistance to grant financing to improve compliance on Anti-Money Laundering-Counter Financing of Terrorism (AML/CFT) regime.

As part of its initiatives, the bank has recently organized two training workshops for government officials and representatives from NGOs and banks, aiming to enhance the capacity and competency for implementing the provisions of targeted financial sanction and Anti-Terrorism Law under the United National Security Council Resolutions (USRs) and Financial Action Task Force (FATF) Recommendations.

“Bangladesh is steadily addressing the needs required to strengthen its Money Laundering-Counter Financing of Terrorism regime,” said Christine Kimes, acting country head of World Bank Bangladesh.

…workshop showcases the government’s commitment for improving capacity of the relevant stakeholders from implementing and reporting agencies for implementing targeted financial sanctions.”

According to the bank, Bangladesh has already formed a national committee headed by the foreign secretary and consisting of all stakeholders to supervise and monitor the implementation of targeted financial sanctions.
World Bank Press Release