Bangladesh improves in anti-money laundering index
Bangladesh has made significant strides in combating money laundering and terrorism financing, marking a commendable five-point advancement, as per the Basel Anti-Money Laundering (AML) Index-2023.
This year, Bangladesh has descended five places in the index, securing the 46th position. The Basel Institute on Governance has annually compiled this index since 2012.
The index operates on the principle that the lower the rank and score, the more effectively a country addresses issues related to money laundering and terrorism financing.
The ranking is formulated through a composite index encompassing 18 indicators across five domains, including the quality of anti-money laundering (AML) and counter financing of terrorism (CFT) frameworks, bribery and corruption, financial transparency and standards, public transparency and accountability, as well as legal and political risks.
Haiti, Chad, and Myanmar hold the top three positions in the list, scoring 8.25, 8.14, and 8.13, respectively.
Iceland is hailed for possessing the most robust framework to combat anti-money laundering and terrorism financing, securing the 152nd rank with a score of 2.87. Following Iceland, Finland, Estonia, Andorra, and Sweden rank closely with scores of 2.96, 3, 3.09, and 3.2, respectively.
.png "Advertisement")
