Bangladesh's central bank asks Finance Institutions to tighten money laundering rules

Bangladesh's central bank on Wednesday issued a circular asking all financial institutions(FIs) to follow the anti-monetary laundering and terrorist financing rules strictly.

"There is no big change in the latest circular, it has just consolidated all previous circulars to help FIs understand the issue easily," Mahfuzur Rahman, executive director and chief spokesman of the Bangladesh Bank, the central bank, said.

The master circular will help FIs formalize all previous regulations and check more closely who their customers are, he said.

There are allegations that some foreign countries provide fund to militant organizations in Bangladesh. Enditem