Govt committed to transparency

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By 2017-07-18

The President said that the Government is committed to strengthening the national economy by protecting purity and transparency which should be present in financial management.

The President made this statement yesterday (17) in Colombo, while addressing the inaugural function of the 20th annual summit of the Asia Pacific Group on money laundering.

This summit which is being held with the participation of many......representatives of various international observation organizations and 41 member countries will be held in Colombo until 21 July.

Addressing the inaugural session, the President added, "if the challenges faced by every country in respect of money laundering is to be overcome, all countries should honestly commit themselves to implementing properly and correctly, ties, agreements and charters, which are created nationally and internationally."

The President said that the Sri Lankan Government has established strong statutory and legal institutions in order to act on misuse of State funds and money laundering and they are currently in operation effectively and successfully.

The President pointed out that through money laundering, large amounts of cash reach terrorist organizations and illegal drug racketeers.

It was emphasized further by the President that the Government will take every possible step to implement properly, while conforming to charters and agreements which have been created internationally in connection with money laundering.

The Asia Pacific Regional Group on Money Laundering, observes the 40 recommendations of the internationally accepted financial task force on money laundering and prevention of providing of money to terrorism in their member countries and in connection with methodically establishing them and empowering them. This group also assists its member countries by raising awareness among people through technical assistance, trainings and providing an opportunity to study strategies regarding methods used for money laundering and provision of money to terrorists which are being followed and the risks that exist therein.

Since Sri Lanka will be the co-chair of the Asia Pacific Regional Group on Money Laundering for the years 2016-2018, and as a result this time's annual summit is of extreme importance to Sri Lanka.

Governor of the Central Bank Dr. Indrajith Coomaraswamy, Attorney General Jayantha Jayasuriya, Executive Secretary of the Asia Pacific Regional Group on Money Laundering Gordon Hook as well as its representatives participated in this inaugural function.

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