BRAC Bank vows to strict AML-KYC compliance

BRAC Bank Limited has conducted an awareness drive across the bank to reiterate its commitment towards strict compliance of Anti-Money Laundering (AML) and Know Your Customer (KYC). 

BRAC Bank Limited organized the largest ever workshop on AML and KYC with participation of more than 400 officials including all the branch managers/ BAMLCOs of its 187 branches.

Md. Sawkatul Alam, Deputy General Manager; Md. Masud Rana, Joint Director, Bangladesh Financial Intelligence Unit; Chowdhury M. A. Q. Sarwar, Chairman of Anti-Money Laundering Compliance Officers of Bangladesh Bank and Deputy Managing Director, Eastern Bank Ltd.; conducted the workshop at BRAC CDM, Savar on December 14, 2019.

Molla Nazrul Islam, Additional DIG, River Police; and Rayhan Uddin Khan, Additional Superintendent of Police, CID; discussed on AML-KYC issue and answered to various questions of the participants.

Md. Sabbir Hossain, Deputy Managing Director and COO; Rais Uddin Ahmad, Company Secretary, Head of Regulatory Affairs and CAMLCO, BRAC Bank, were also present.  

Commenting on the awareness initiative, Md. Sabbir Hossain, Deputy Managing Director and COO, BRAC Bank; said: “AML and KYC compliance is key to minimizing risk in the banking sector. Beyond banking sector, it affects national and international security. That’s why we, at BRAC Bank, put utmost importance on capacity building of the employees through continuous training.”

He added, “To keep continuous vigil on AML effort and ensure KYC adherence, we must train our employees and update them on the latest rules and regulations. We think this platform with highly qualified resource persons will help our officials put more focus on this important issue. We will continue to inculcate AML awareness across the bank. With continuous training and awareness session, we aim to become the most AML and KYC compliant bank in the country.”

BRAC Bank conducts AML and KYC training for each and every employee at least once in a year through a module prepared as per Bangladesh Bank guidelines. It organizes weekly training at the Head Office and monthly, at the regional levels to cover all the employees.

As BRAC Bank believes in values of its own along with that of the nation, it invests in people’s development through various training programmes to upskill their knowledge and efficiency levels.

 -rmc//