UK Reaffirms Support for Bangladesh Bank Modernisation

The United Kingdom has reaffirmed its commitment to supporting the transformation of Bangladesh Bank into a modern, technology-driven and stronger central banking institution.

The assurance came during a courtesy meeting between British High Commissioner to Bangladesh Sarah Cooke and Governor Md. Mostaqur Rahman at the central bank headquarters in Dhaka.

The discussions focused on strengthening bilateral cooperation in financial sector reforms, capacity building, and human resource development for the central bank.

A major part of the meeting centered on anti-money laundering (AML) efforts and the recovery of illicitly transferred assets. Both sides expressed commitment to enhancing coordination with UK authorities to trace and recover stolen assets held abroad.

They also discussed key legislative reforms, including the proposed Bank Resolution Act, aimed at improving governance, ensuring financial stability, and strengthening the resilience of the banking sector.

Digital financial integration was another key focus. The two sides discussed the introduction of digital bank statement verification systems for visa applications to help prevent fraud and improve transparency.

They also exchanged views on joint efforts to combat illegal migration and the use of forged documents in financial and travel processes.

Preparations for the upcoming Financial Action Task Force (FATF) mutual evaluation were also reviewed, with emphasis on ensuring compliance with international standards on financial security and anti-money laundering measures.

Governor Md. Mostaqur Rahman expressed appreciation for the UK’s continued support in Bangladesh’s development journey. He reiterated the central bank’s commitment to building a cashless society and expanding a secure digital payment ecosystem.

He added that Bangladesh Bank is working to strengthen transparency and good governance in the financial sector through modern technology and regulatory reforms.

The meeting was also attended by Deputy Governor Habibur Rahman, stolen asset recovery consultant Farhanul Ghani Chowdhury, and representatives from the British High Commission.