bKash organises AML&CFT workshop on sustainable MFS growth

Speakers in a workshop organised by bKash reiterated the need for more effective implementation of the regulations of Anti-money Laundering and Combating the Financing of Terrorism (AML&CFT) for sustainable growth of the fast-growing mobile financial services (MFS) sector.

Abu Hena Mohammad Razee Hassan, head of Bangladesh Financial Intelligence Unit (BFIU), was present as the chief guest at the workshop titled “Essence of AML&CFT Compliance for Sustainable Growth of MFS Sector,” organised by bKash in collaboration with BFIU and Bangladesh Bank, reads a press release.

The chief guest said that it is possible to ensure AML&CFT by following the guidelines and circulars of BFIU to prevent money laundering and terrorist financing.

“As a responsible organisation, bKash has been abiding by these guidelines properly and hopefully the company will adhere to the rules and regulations in future as well,” he said, referring to the obligations all MFS providers have in following AML&CFT guidelines issued by BFIU.

Major General Sheikh Md Monirul Islam (retd), Chief External and Corporate Affairs Officer (CECAO) and Chief Anti-Money Laundering and Compliance Officer (CAMLCO) of bKash, in his keynote presentation, highlighted the actions which have been taken by bKash till now to comply with the regulations stipulated in the AML&CFT law.

He also defined the importance of regulatory/AML&CFT compliance that needs to be adhered to by all MFS providers to ensure sustainable growth of MFS sector.

Selim RF Hussain, Managing Director of BRAC Bank, said that bKash has continued to invest heavily in the process, method and technology to ensure compliance.

Hence, bKash has established itself as an organization that takes appropriate steps to prevent money laundering and terrorist financing.

Kamal Quadir, CEO of bKash, said that maintaining AML&CFT compliance is the culture of bKash. The organization constantly works to ensure sustainable growth of MFS and prioritizes AML&CFT compliance for ensuring customer safety and trust.

Mohd Humayun Kabir, Executive Director of Payment Systems Department (PSD) of Bangladesh Bank; Eskandar Miah, Executive Director of BFIU; Md. Mezbaul Haque, General Manager of Payment Systems Department of Bangladesh Bank; Sawkatul Alam, and Deputy General Manager of BFIU were present at the virtual event.

About 175 officers of bKash, Bangladesh Bank and BRAC Bank also participated in this event.