Nagad, the digital financial service arm of Bangladesh Post Office, and the Bangladesh Financial Intelligence Unit (BFIU) have emphasized effective management to combat money laundering and financing of terrorism in order to ensure sustainable growth of the fast-growing digital financial services sector in the country.
The second-largest mobile money carrier organised a day-long workshop on ‘Role of Steps Aimed at Tackling Money Laundering and Financing of Terrorism for Sustainable Business” at a hotel in the capital, said a press release.Speaking at the workshop, senior officials of the BFIU said Nagad has been playing a positive role in this effect, and the situation would improve further in the coming days.
The workshop was part of a broader effort to raise awareness among the officials of Nagad about combating money laundering and financing of terrorism.
About 50 top officials of Nagad, senior officials of the BFIU and the postal department took part in the event.
Abu Hena Mohd. Razee Hassan, Head of the BFIU, was present as the chief guest. Md Eskandar Miah, Deputy Head of BFIU, and Md. Siraz Uddin, director-general of the postal directorate, attended as special guests.
BFIU General Manager Md Sawkatul Alam and Nagad Managing Director Tanvir A Mishuk were present at the meeting, which was presided over by Nagad’s Chief Anti-Money Laundering Compliance Officer and Executive Director Md. Shafayet Alam.
Nagad Managing Director Tanvir A Mishuk said the identity of every customer has been verified because of the use of digital KYC (Know Your Customer) and software such as Optical Character Reader (OCR) from the very beginning. So, it is not easy to carry out money laundering and financing of terrorism through Nagad.