A delegation from the Asia/Pacific Group (APG) on Money Laundering has concluded its three-day Preliminary Mutual Evaluation Planning (P-MEP) visit to Bangladesh. The visit identified priority actions for the country ahead of the 2027-28 Mutual Evaluation. The government reaffirmed its commitment to combating money laundering, terrorist financing, and proliferation financing.
Government Commitment and Concerns
During the visit, a high-level meeting chaired by Finance Minister Amir Khosru Mahmud Chowdhury was held, where the government reiterated its strong political commitment to strengthening anti-money laundering (AML), countering financing of terrorism (CFT), and countering proliferation financing (CPF) frameworks. The meeting was attended by Bangladesh Bank Governor Mostaqur Rahman and Financial Institutions Division (FID) Secretary Nazma Mobarek, highlighting a coordinated national approach.
Review and Recommendations
The APG team reviewed Bangladesh's financial sector and expressed concerns over irregularities and corruption in the capital market and banking sector during the previous regime, as well as large-scale capital flight and money laundering. The delegation warned that these legacy issues could adversely impact Bangladesh's performance in the upcoming evaluation. However, they welcomed the ongoing financial-sector reforms and initiatives to recover laundered assets, recommending that these efforts remain a key priority.
Extensive technical sessions were held involving representatives from various financial regulatory bodies, including the Bangladesh Financial Intelligence Unit (BFIU), Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC), and others. A separate session was also held with private-sector stakeholders to inform them of their responsibilities in the mutual evaluation process.
Bangladesh has undergone three rounds of mutual evaluation—in 2002, 2009, and 2016. Following the 2009 assessment, the country was placed on the APG's 'grey list' as a high-risk jurisdiction but exited the list in February 2014 after implementing several government measures. In the 2016 evaluation, Bangladesh was recognized as a compliant country by the APG and its 42 member jurisdictions.
At the conclusion of the P-MEP visit, Bangladesh Bank Governor and the BFIU head reaffirmed the country's commitment to successfully completing the 2027-28 evaluation and maintaining international standards on financial integrity. They emphasized the need for continued vigilance and coordinated efforts to strengthen the country's AML/CFT/CPF regime and protect the integrity of the national financial system.
