Money Laundering and Terrorist Financing Prevention Division

The main function of Money Laundering and Terrorist Financing Prevention Division (ML&TFPD) is to protect Social Islami Bank Limited (SIBL) from tribulations of money laundering and terrorist financing. It preserves important role to maintain liaison among Bangladesh Financial Intelligence Unit (BFIU) , Central Compliance Committee (CCC) and branches. It ensures the compliance of the directives of BFIU issued from time-to-time and also ensures the implementation of necessary guidelines and code of conduct formulated by Bangladesh Bank as per Money Laundering Prevention Ordinance 2012, Anti-terrorism Act 2009 and Anti Terrorism (Amendment) Ordinance 2012 .

A Central Compliance Committee (CCC) has been working at Head Office, where a Senior Executive is nominated as Chief Anti Money Laundering Compliance Officer (CAMALCO) and Branch Compliance units (BCU) have been working at branches, where the managers / operation managers have been nominated as Branch Anti Money Laundering Compliance Officers (BAMALCO). The Head of our Money Laundering and Terrorist Financing Prevention Division of the Bank is nominated as Deputy Chief Anti Money Laundering Compliance Officer (Deputy CAMALCO).

The re-structured formation of the Central Compliance Committee (CCC) of Prevention of Money Laundering and Terrorist Financing of our Bank are as follows:

01. Deputy Managing Director Head of Central Compliance Committee (CCC) & Chief Anti Money Laundering Compliance Officer (CAMLCO)
02. Head of Money Laundering and Terrorist Financing Prevention Division Deputy Chief Anti Money Laundering Compliance Officer (DCAMLCO)
03. Head of Financial Administration Division Member
04. Head of International Division Member
05. Head of Investment Risk Management Division Member
06. Head of Trade Finance & RMG Division Member
07. Head of Human Resources Division Member
08. Head of Consumer Investment Division Member
09. Head of Information Technology Division Member
10. Head of SME & Agricultural Finance Division Member

The objective of ML&TFPD is to keep the mechanism of anti money laundering and anti terrorist financing activities in our bank operative, proper and effective. It is also ensure communication and co-operation among SIBL, regulatory bodies and law enforcing agencies on Prevention of Money Laundering and Anti Terrorist Financing issues.