In the just concluded fiscal year, migrant workers sent home $15.31 billion in remittance, the highest in the country’s history. The remittance in 2014-15 also rose 7.6 percent from $14.23 billion in the previous fiscal year, according to Bangladesh Bank (BB) statistics released yesterday. [caption id="attachment_4203" align="alignleft" width="300"] The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAA...

Bangladesh Bank (BB) has issued compulsory anti-money laundering (AML) guidelines for non-banking financial institutions (NBFIs) to help combat money laundering and terror financing. Similar to those for commercial banks, the guidelines emphasized that NBFIs should know their clients and keep watch on their financial transactions with a foolproof monitoring system, reports BSS. The central bank in a master circular issued Monday advised the NBFIs to formulate policies and procedures to operationalise and ensure the observance of these guidelin...