RI, BANGLADESH TO COOPERATE IN FIGHTING MONEY LAUNDERING

Jakarta, March 19 (ANTARA) - Indonesia and Bangladesh have agreed to cooperate in the prevention of and fight against money laundering and the funding of terrorism, an official said.

Deputy head of Indonesia's Financial Transaction Reports and Analysis Center (PPATK), Wahyu Hidayat, said in press statement on Thursday that both countries signed the cooperation agreement on the prevention and fight against money laundering and terrorism financing on Monday, March 16, 2009.

He said the agreement was signed by PPATK head Yunus Husein representing Indonesia and MD Abdul Quasem, executive director and head of the Financial Intelligence Unit (FIU) of Bangladesh's Central Bank's Anti Money Laundering Department.

Hidayat said that the cooperation where the two countries would exchange financial intelligence information, was an effort to reinforce international cooperation in fighting against money laundering and terrorism financing.

Corruption crime constituted a big problem for Indonesia and Bangladesh. Therefore, the two countries agreed to exchange experience and extend assistance to each other in the prevention and crack down on money laundering.

Both sides agreed that the information which would be exchanged was prudential in nature so that both sides should keep the secrecy of information they were exchanging.

Indonesia's cooperation with FIU of Bangladesh is the 29th of its kind Indonesia has made with its foreign partners.***