The chief anti money laundering compliance officers (CAMLCOs) of insurance companies participated in a conference recently at a hotel in the capital.

The conference was held under a joint initiative of the Bangladesh Financial Intelligence Unit (BFIU) and the Insurance Companies CAMLCO Association of Bangladesh (ICCAB), according to a press release.

The day-long conference was inaugurated by Md Masud Biswas, chief of BFIU, while Probir Chandra Das, chairman of ICCAB and DMD & CFO of National Life Insurance, delivered the welcome speech.

Md Masud Biswas said the insurance sector could play an important role in preventing money laundering by strengthening corporate governance.

He also said CAMLCOs could report any suspicious financial transaction to the BFIU to prevent money laundering.

Three panel discussions and an open discussion were also held, featuring experts from insurance companies, BFIU and the insurance industry.

Md Dalil Uddin, a member of the Insurance Development & Regulatory Authority, and BM Yusuf Ali, president of the Bangladesh Insurance Forum, also spoke at the inaugural ceremony while Md Rafiqul Islam, deputy chief of BFIU, was also in attendance.

Md Kazim Uddin, CEO of National Life Insurance, and other senior officials also participated.