Check terror financing

Bangladesh Bank Governor Dr Atiur Rahman yesterday asked the commercial banks to take the highest cautionary measures so that no one can use the banking channel for financing terrorism both at home and aboard.

"You (bankers) have to collect detailed information on customers and have to monitor their transactions very closely," he told the inaugural session of a conference of chief anti-money laundering compliance officials, known as CAMLCOs, of all banks, in Cox's Bazar town.

Atiur said the rise of different militant organisations had become a threat for Bangladesh and other countries. "You have to be cautious" about that, he asked.

 The central bank chief instructed the bankers to comply with "Know Your Customer (KYC)" provisions properly to check illegal fund transfers.

The BB is working based on the new data base of national identity cards prepared by the Election Commission, he said, adding that other commercial banks would connect with the central bank's server immediately to access the data.

The governor hoped that such measures would help comply with KYC provisions properly and also play an effective role in preventing money laundering.

He also asked the bankers to effectively follow the rule and regulations relating to anti-money laundering and combating financing of terrorism.