BRAC Bank holds event to strengthen AML-CFT oversight

BRAC Bank PLC has organised an awareness programme titled "Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)" for its board of directors and senior management at the bank's head office in Dhaka recently.

The discussion emphasised leadership accountability, risk-based decision-making and sustained vigilance in addressing evolving financial crime risks.

Md Mofizur Rahman Khan Chowdhury, executive director and head of the Bangladesh Financial Intelligence Unit (current charge), and Juairia Haque, joint director, facilitated the programme, according to a press release.

Chowdhury emphasised the critical oversight roles of the board of directors and senior management in preventing money laundering and terrorist financing.

He highlighted the importance of leadership accountability, risk-based decision-making and sustained vigilance in addressing emerging financial crime risks. He also outlined the challenges banks are currently facing, pointing to governance failures as one of the major reasons behind the situation.

Meheriar M Hasan, chairperson of BRAC Bank PLC; Faruq Mayeenuddin Ahmed, vice-chairperson; Salek Ahmed Abul Masrur, independent director and chair of the board risk management committee; and Chowdhury MAQ Sarwar, independent director and chair of the board audit committee, attended the event.

Zahid Hussain, Farzana Ahmed, Lila Rashid and Anita Ghazi Rahman, directors, and Tareq Refat Ullah Khan, managing director and CEO, were also present, along with members of the senior management from both organisations.