The Asia Pacific Group (APG), a global anti-money laundering body, has asked the government to prepare a guideline on financial operations of local stock related companies to check money laundering.

The anti-money laundering watchdog has also urged the government to tag few international practices as condition for the country’s postal and cargo service providers, sources in Banking Division of the Ministry of Finance said.

Those conditions and directives were given during a recent meeting of the Asia-Pacific Review Group on money laundering activities in the country. A total of five members of Bangladesh Bank and the Banking Division attended the meeting held in New Delhi.

Deputy Governor of Bangladesh Bank Abu Hena Mohd Razee Hassan headed the Bangladeshi delegation in the meeting.

From now on, the APG will review anti-money laundering activities in Bangladesh as it is on its gray list at present. If the country doesn’t work properly for the next four months, it might go to APG’s black list, sources informed about the meeting told daily sun.

The review group further put a condition of thoroughly checking all travelers if they carry more than US $ 5,000 with them while going outside Bangladesh, sources said.

The Daily Sun/ Bangladesh/ 26-May-2012