Bangladesh Bank (BB) has formed a new intelligence unit to fight money laundering and establish more discipline and transparency in financial sector.

The unit, Bangladesh Financial Intelligence Unit (BFIU), will replace the BB’s Anti-Money Laundering Department and Financial Intelligence Unit, a press release of the central bank said. BFIU will carry out its operation as per power bestowed upon it by the Anti-Money Laundering Ordinance 2012, Anti- Terrorism Act 2009 and Anti-Terrorism Ordinance, 2012 (Amended).

BFIU will now take over the manpower and activities of the anti-money laundering department.
The deputy government who has been given the responsibility of the newly formed BFIU will act as head of BFIU, the executive director as deputy head of BFIU and the general manager as operational head of BFIU.

The Daily Independent/Bangladesh/ 30th Jan 2012