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Anti Money Laundering Department: Managing Director/Chief Executive

The document is a circular from Bangladesh Bank informing reporting organizations such as banks, financial institutions, insurance companies, money changers, stock brokers, portfolio managers, and non-profit organizations of changes to Money Laundering Prevention Act 2009. New reporting organizations like stock brokers, portfolio managers, and non-profits have been added. New predicate offenses like terrorism, counterfeiting, environmental crimes, sexual exploitation, insider trading, and organized crime have also been included. Reporting organizations are requested to inform relevant parties of these changes.

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44 views

Anti Money Laundering Department: Managing Director/Chief Executive

The document is a circular from Bangladesh Bank informing reporting organizations such as banks, financial institutions, insurance companies, money changers, stock brokers, portfolio managers, and non-profit organizations of changes to Money Laundering Prevention Act 2009. New reporting organizations like stock brokers, portfolio managers, and non-profits have been added. New predicate offenses like terrorism, counterfeiting, environmental crimes, sexual exploitation, insider trading, and organized crime have also been included. Reporting organizations are requested to inform relevant parties of these changes.

Uploaded by

Rage Ezekiel
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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AntiMoneyLaunderingDepartment

BangladeshBank
HeadOffice Dhaka. Website:www.bangladeshbank.org.bd

AMLCircularNo.26

Date:30September,2010

ManagingDirector/ChiefExecutive Allscheduledbanks,financialinstitutions,insurancecompanies,moneychangers,companiesor organizationsremittingortransferringmoney,stockdealerandstockbroker,portfoliomanager and merchant banks, security custodian, asset manager, non profit organization and non governmentorganization DearSir, Inclusionofnewreportingorganizationsandpredicate offencesinMoneyLaunderingPreventionAct,2009 With reference to the provision of section 2(l) (vii) of Money Laundering Prevention Act, 2009 and with the approval of the Government the following organizations shall be included as reporting organizations: (1) Stock Dealer and Stock Broker (2) Portfolio Manager and Merchant Bank (3) Security Custodian (4) Asset Manager (5) Non Profit Organization/Institution and (6) NonGovernmentOrganization;andreferencetotheprovisionofsection2(q)(17)ofthesame Act and with the approval of the Government the following offences shall be included as Predicate Offence: (1) Terrorism and Terrorist Financing (2) Counterfeiting and Piracy of Products (3) Environmental Crime (4) Sexual Exploitation (5) Taking market advantage through transactionsbyusingpricesensitiveinformationofthecapitalmarketbeforeitbecomespublic and trying to control or manipulate the market to gain personal advantage (Insider trading and marketmanipulation)(6)OrganizedCrime. TheGazetteNotificationofBangladeshBankontheaboveissue(notificationnoAMLD01/2010 BB,dated30September,2010)isreprintedontheotherside. 2. You are requested to inform the matter to all concerned. Meanwhile please acknowledge receipt. Yoursfaithfully, Sd/ Enclosure:01(one)page. (M.MahfuzurRahman) GeneralManager Tel:7120659

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BangladeshBank
GazetteNotificationno.AMLD01/2010BB Dhaka,30September,2010 01. Under the provision of section 2(l) (vii) of Money Laundering Prevention Act, 2009 the following organizations shall be included as reporting organizations: (1) Stock Dealer and Stock Broker, (2) Portfolio Manager and Merchant Bank, (3) Security Custodian, (4) Asset Manager, (5)NonProfitOrganization/Institutionand(6)NonGovernmentOrganization. In this regard, (1) Stock Dealer and Stock Broker means the organizations (Stock Dealer, Stock Broker and Authorized Representative) defined under section 2(i) and (j) of Securities and Exchange Commission Regulations2000, (2) Portfolio Manager and Merchant Bank means the organizations (Merchant Bank and Portfolio Manager) defined under section 2(f) and (j) of Securities and Exchange Commission Regulations1996, (3) Security Custodian means the organizations (Security Custodial Services) defined under section 2 (j) of Securities and Exchange Commission Regulations2003, (4) Asset Manager means the organizations (Mutual Fund) defined under section 2 (s) of Securities and Exchange Commission Regulations2001, (5) Non Profit Organization/Institution means organizations or institutions licensed or registered under section 28 of the Companies Act(Bangladesh)1994. (6) Non Government Organization means organization or institution licensed or registered under Voluntary Social Welfare Agencies (registration and control) Ordinance1961, The Co operative Societies Act2001, The Societies Registration Act1860, the Foreign Donation (Voluntary activities) Regulation Ordinance1978, The Foreign Contributions (Regulation) Ordinance, 1982 and Microcredit RegulatoryAuthorityAct2006and 02. Under the provision of section 2(q)(17) of Money Laundering Prevention Act, 2009 the following offences shall be included as Predicate Offence (1) Terrorism and Terrorist Financing (2)CounterfeitingandPiracyofProducts(3)EnvironmentalCrime(4)SexualExploitation (5) Taking market advantage through transactions by using price sensitive information of the capitalmarketbeforeitbecomespublicandtryingtocontrolormanipulatethemarkettogain personaladvantage(Insidertradingandmarketmanipulation)(6)OrganizedCrime. Sd/ (ZiaulHasanSiddiqui) DeputyGoverner

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