Saturday, 20 April, 2024
Saturday, 20 April, 2024
BASEL ANTI MONEY LAUNDERING INDEX

Bangladesh jumps 5 notches but still at high-risk zone

Pakistan and Sri Lanka did better than Bangladesh in the index
Staff Correspondent, dhakadiplomat.com
  20 Nov 2023, 21:31

Bangladesh has made significant improvement in Basel AML Index 2023, a global anti money laundering (AML) index, but the country still poses higher risk than its neighbours like Pakistan and Sri Lanka.

Bangladesh has dropped five notches down to rank 46th this year in the index, which has annually been produced by the Basel Institute on Governance since 2012.

In the index, the lower the ranking and score, the better the country is performing in case of handling money laundering and terror financing.

However, Bangladesh is still at the high-risk zone in case of money laundering and terrorist financing with a score of 5.80 whereas Pakistan's score is 5.44 ranking 61st and Sri Lanka 5.42 ranking 62nd, according to the 12th public edition of the index.

The ranking is based on a composite index of 18 indicators of money laundering and terrorist financing risk in five domains.

The domains are: quality of anti-money laundering (AML) and counter financing of terrorism (CFT) framework, bribery and corruption, financial transparency and standards, public transparency and accountability and legal and political risks.

Haiti, Chad and Myanmar topped the list occupying the first, second and third ranks with scores of 8.25, 8.14 and 8.13 respectively.

According to the index, Iceland has the best framework to tackle anti-money laundering and terror financing, as the country ranked 152nd with a score of 2.87.

Finland, Estonia, Andorra and Sweden are the next four after Iceland with 2.96, 3, 3.09, 3.2 respectively.

 

Comments

  • Latest
  • Popular

Prime Minister Sheikh Hasina has started work on building future Bangladesh: Finance Minister Mahmood Ali

Bangladeshi architect Marina Tabassum on Time's 100 most influential list

PM seeks private sector’s steps for development of livestock, fisheries

Historic Mujibnagar Day observed at Bangladesh Embassy in Washington

Five more Myanmar border guards take refuge in Bangladesh

No respite from heat wave for five days: BMD

Israel vows to press on in Gaza after Iran attack

Chief Justice urges to highlight Bangladesh’s image across the world

Journalists are the mirror of society: Alhaj Benazir Ahmad MP

Why Book Fair

১০
Focus on growth–boosting reforms, IMF tells Bangladesh
Bangladesh should focus on containing inflation and rebuilding external resilience in the near term in
IMF, ADB loans to boost reserves in Dec: Bangladesh Bank
Bangladesh's foreign exchange reserves will increase in December as the country will receive $1.31 billion
ADB to give Bangladesh $1 billion loan for five projects
The Asian Development Bank (ADB) today signed multiple agreements with Bangladesh to provide the country
ILO calls for transparency in fixing RMG wages
The International Labour Organization (ILO) has underscored the necessity of adopting a minimum wage determination