Regulatory Alerts2011-07-05
Added · Updated
AML Circular No. 28: Guidance Notes on AML/CFT for Insurance Companies
Insurance companies operating in Bangladesh are required to develop their own internal guidance notes based on the minimum standards set out in the provided guidance notes, tailored to their specific business scope, size, and nature. These internal notes must be approved by the Board of Directors and submitted to the Anti-Money Laundering Department of Bangladesh Bank by September 30, 2011. Furthermore, companies must implement the necessary measures to comply with these standards by December 31, 2011.