Working Group on Anti-Money Laundering and Counter-Financing of Terrorism holds meeting

A meeting of the Working Group on Anti-Money Laundering and Counter-Financing of Terrorism was held at the Central Bank of Myanmar in Nay Pyi Taw yesterday.
During the meeting, Working Group Chairperson Central Bank of Myanmar Governor Daw Than Than Swe highlighted the statement of FATF not to affect the activities of NPO that conform with the law and the transfer of funds in support of humanitarian work in conducting special anti-money laundering tasks at the banks. She continued that Myanmar works together with relevant departments for Action Plan mentioned in the progress report submitted to the Joint Asia-Pacific group. Moreover, the country will participate in APG Annual Meeting to be held from 9 to 14 July to discuss the cooperation of Myanmar-ICRG and other APG issues. The NGOs and INGOs in Myanmar also should review the acceptance of international money transfers under the law, procedures and stipulations and the relevant departments also should draft SOP.
Then, Vice-Chairman of Working Group and Anti-Corruption Commission Member U Kyaw Win Thein discussed the need to follow FATF’s recommendation 8 and draft the SOP, guidelines and timeline by the ministries to facilitate the processes of registration, MoU and money transfers as per the stipulations of the law.
Officials of relevant ministries, NGOs and INGOs coordinated the discussion and the meeting concluded. — MNA/KTZH