Cabinet asks for scrutiny of terror finance law |
The cabinet at a meeting yesterday agreed in principle to enact the Money Laundering and Terrorist Financing Prevention Law 2005 and asked the finance ministry to submit the draft law again after further scrutiny.
Meeting sources said the cabinet asked the law ministry to find out if there are overlapping or inconsistencies between the proposed Money Laundering and Terrorist Financing Prevention Law and the Anti-Terrorism Act 2005.
The draft Anti-Terrorism Act 2005 has already been submitted to the home ministry for its opinion, sources said.
The meeting chaired by Prime Minister Khaleda Zia, however, approved the draft law (amended) on controlling the sale of acid.
The Money Laundering and Terrorist Financing Prevention Law provides for a Financial Crime Investigation and Prosecution Office (FCIPO) and allows the government to take foreign assistance to rout the crimes.
The law crafted by the Bangladesh Bank (BB) defines terrorist acts and prescribes harsh punishments including life imprisonment and death sentence for them.
The new law will replace the existing Anti-Money Laundering Act (AMLA) 2002.