Conference for CAMLCOs of insurance companies held
Business Desk :
The chief anti money laundering compliance officers (CAMLCOs) of insurance companies participated in a conference recently at a hotel in the capital.
The conference was held under a joint initiative of the Bangladesh Financial Intelligence Unit (BFIU) and the Insurance Companies CAMLCO Association of Bangladesh (ICCAB), according to a press release.
The day-long conference was inaugurated by Md Masud Biswas, chief of BFIU, while Probir Chandra Das, chairman of ICCAB and DMD & CFO of National Life Insurance, delivered the welcome speech.
Md Masud Biswas said the insurance sector could play an important role in preventing money laundering by strengthening corporate governance.
He also said CAMLCOs could report any suspicious financial transaction to the BFIU to prevent money laundering.
Three panel discussions and an open discussion were also held, featuring experts from insurance companies, BFIU and the insurance industry.
Md Dalil Uddin, a member of the Insurance Development & Regulatory Authority, and BM Yusuf Ali, president of the Bangladesh Insurance Forum, also spoke at the inaugural ceremony while Md Rafiqul Islam, deputy chief of BFIU, was also in attendance.
Md Kazim Uddin, CEO of National Life Insurance, and other senior officials also participated.
The Chief Anti Money Laundering Compliance officers (CAMLCO) of the Insurance Companies Conference were held on 6 July 2024 on the prevention of money laundering. The conference was held under joint initiatives of Bangladesh Financial Intelligence Unit (BFIU) and Insurance Companies CAMLCO Association of Bangladesh (ICCAB) at a hotel in Dhaka.
The day-long conference was inaugurated by The BFIU Chief Md. Masud Biswas. Highlighting the importance of the conference, the Chairman of ICCAB and DMD & CFO of National Life Insurance Probir Chandra Das FCA delivered the welcome speech.
Md. Dalil Uddin, Memebr of Insurance Development & Regulatory Authority (IDRA) and B.M. Yusuf Ali, President of Bangladesh Insurance Forum (BIF) also spoke at the inaugural ceremony under the chairmanship of Md. Rafiqul Islam, Deputy Chief of BFIU.
The CEO of National Life Insurance Md. Kazim Uddin and CEOs of both Life and Non-Life Insurance Companies of the country and other high officials of CAMLCO participated in the event.
The chief of BFIU Mr. Md. Masud Biswas in his address said that the insurance sector can play an important role in preventing money laundering through strengthening proper corporate governance as espoused by the Honorable Prime Minister Sheikh Hasina in terms of her Zero-tolerance policy. He said the CAMLCO officials can report to BFIIU on any suspicious financial transaction as he emphasized on prevention of money laundering and funding the terrorists in order to further strengthening the national economy and contribute to the ongoing surge of the country’s development. In this patriotic commitment, he said, BFIU will extend all necessary cooperation to the insurance sector of Bangladesh.
ICAB’ chairman and the DMD & CFO of National Life Mr Probir Chandra Das said in his welcoming address underscored the need of training and knowledge-sharing by the ICAB with the CAMLCO officials of insurance companies so that the CAMLCO officials would be able to play an important role by strengthening the corporate governance in the insurance sector.
Three panel discussions and an open discussion were held at the conference to prevent money laundering. Experts from insurance companies, CAMELCO, BFIU and the insurance industry took part in the discussion.
