The Central Body on Anti-Money Laundering held its 1/2024 meeting on 21 August, with the attendance of State Administration Council Member Union Minister for Home Affairs Lt-Gen Yar Pyae, who is in the capacity of the Chairman of the Central Body, and Vice Chairs of the Central Body: Governor of the Central Bank of Myanmar and Chairman of the Anti-Corruption Commission, members of the Central Body, Chairman of Five Strategic Fields of National Level and five secretaries, Vice Chair of the Working Group on Anti-Money Laundering and Counter-Financing of Terrorism and nine members, and two invited guests, totalling 32.
During the meeting, the Chairman of the Central Body Lt-Gen Yar Pyae discussed as follows:
- The State Administration Council organized the Working Group on Anti-Money Laundering and Counter-Financing of Terrorism led by Governor of the Central Bank of Myanmar on 26 October 2022 in order to implement the eight weak points failed to be followed by the Financial Action Task Force (FATF) on Myanmar.
- Measures are being made to amend the counter-terrorism law mentioned in the Action Plan to be able to show off the signs of progress before October 2024. Moreover, relevant departments are required to implement the amendment of the anti-money laundering law and the enactment of the custody and disposal of exhibits law.
Afterwards, the attendees discussed their duties and ongoing work plans in respective sectors and approved the national strategy (2024-2028) (draft), following the meeting concluded.
Source: MWD (22-8-2024)
- The Chairman of the Central Body on Anti-Money Laundering said that measures are being made to amend the counter-terrorism law mentioned in the Action Plan to be able to show off the signs of progress before October 2024. It is necessary to implement the amendment of the anti-money laundering law and the enactment of the custody and disposal of exhibits law.