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BB tightens monitoring terror financing incidents

  • Published at 06:44 pm November 5th, 2013

Bangladesh Bank has asked all the financial institutions to freeze accounts of the country’s prominent personalities or institutions if they have any involvement in terror financing in accordance with the United Nations Prevention and Suppression of Terrorism and Financing of Terrorism order 2012, officials said.

Bangladesh Bank issued a circular on Tuesday to the CEOs of all the banks, financial institutions, insurance companies, stock dealers, stock brokers, non-profit organisations, NGOs, real estate developers, advocates, notary and other legal professionals.

“Bangladesh Bank bound to follow the instruction of anti-terror act as a member of United Nations Security Council. We issued the circular in order to remind them who are not following the act still,” said Bangladesh Bank Executive Director Mahfuzur Rahman. 

Pubali Bank Managing Director Helal Ahmed Chowdhury told Dhaka Tribune that the commercial banks regularly comply with the country’s anti-terrorist financing act.

The banks would inform the central bank if they detect any incident of terrorist financing in the transactions of money among the banks, he said.

Bangladesh Bank also asked to comply with the amended anti-terrorist financing act 2009, which was amended following the United Nations Security Council Resolution.