Premier Bank holds BAMLCO conference to strengthen AML, CFT compliance

The Premier Bank PLC organised a day-long BAMLCO Conference at its Learning & Talent Development Center (LTDC) at the head office in Banani to strengthen institutional capacity in anti-money laundering and combating the financing of terrorism.

It focused on enhancing regulatory knowledge, risk-based compliance practices and operational readiness, says a press release.

The conference was inaugurated by Arifur Rahman, Chairman of The Premier Bank PLC. Mofizur Rahman Khan Chowdhury, Executive Director and Deputy Head of the Bangladesh Financial Intelligence Unit, attended as chief guest. Nurul Alam, CGIA, Independent Director, and Monzur Mofiz, Managing Director (Current Charge) of The Premier Bank PLC, were present as special guests.

Addressing the programme, Mofizur Rahman Khan Chowdhury stressed the need for a strong, risk-based and sustainable compliance framework within the banking sector to effectively prevent money laundering and terrorist financing. He underlined the importance of regular capacity building, effective transaction monitoring systems, and timely identification, analysis and reporting of suspicious transactions.

In his inaugural remarks, Arifur Rahman said, “Compliance is one of the key foundations of trust and sustainable growth in banking. By equipping our officials with appropriate knowledge and effective tools, Premier Bank continues to reaffirm its commitment to integrity and transparency.”

He added, “The previous practice of inflating expenses, a common money-laundering technique, has been fully eliminated. As a result, our compliance culture has become so strong that even I personally receive EDD calls for transactions involving certain amounts—clearly reflecting our commitment to responsibility and strict compliance.”

Monzur Mofiz said the bank would continue its operations in strict adherence to the policy guidelines of Bangladesh Bank and the Bangladesh Financial Intelligence Unit to ensure transparency, accountability and good governance across the banking system.

The conference was attended by senior officials, including Wali Ul Morshed, Deputy Managing Director for Retail Banking; Mohammad Al Amin, Deputy Managing Director and Chief Credit Officer; Naquibul Islam, SEVP CAMLCO (Acting); and Sadia M. Hannan, CAMS, Deputy CAMLCO (Acting), along with branch managers, branch AML compliance officers and senior head office officials. Around 150 participants took part in the programme.

During the sessions, BFIU resource persons Shadril Ahmed, Additional Director, and Jaynul Abedeen, Joint Director, conducted detailed discussions on domestic laws, transaction monitoring, KYC and EDD implementation challenges, regulatory reporting processes, and risks related to trade-based and credit-backed money laundering.