PROGRESS ON BANGLADESH AML AMEMDMENTS

C O N F I D E N T I A L DHAKA 003733

SIPDIS

E.O. 12958: DECL: 08/02/2015
TAGS: EFIN KTFN BG
SUBJECT: PROGRESS ON BANGLADESH AML AMEMDMENTS


Classified By: Econ Chief David Renz; reason 1.4(d)


1. (C) Central Bank Governor Salehuddin Ahmed informed
econoff July 27 that he had forwarded amendments to
Bangladesh's anti-money laundering law to the Finance
Minister for final review. Ahmed expects the Finance
Minister will convene a senior level policy meeting within
the next two weeks to approve the amendments before placing
them before the Cabinet.


2. (C) Ahmed said the draft retains many of the USG
proposals provided during a December 2004 DOJ technical
assistance visit, including provisions to create a financial
intelligence unit and an interagency "strike force" for
prosecuting cases. Ahmed touted his own role in moving the
amendments forward, saying he personally revised the
amendments to remove extraneous provisions concerning banking
regulation generally that were suggested by industry groups,
which were invited to comment on the draft. Ahmed expressed
an interest in additional US technical assistance with
training once the amendments are adopted. He noted, but did
not accept, econoff's offer to have US experts informally
review the current draft of the amendments.

CHAMMAS