Participating in Anti-Money Laundering Programme
The bank actively participates in the campaign against money laundering and terrorist financing launched by the government. It strictly follows the instructions on anti-money laundering measures laid down by the Central Control Board (CCB) and the Central Bank of Myanmar (CBM). The bank has given necessary instructions to its branch and department managers to be able to fully comply with the Control of Money laundering Laws and Rules enacted by the government and related instructions and guidelines laid down by the Central Bank of Myanmar. It has formed an Anti-Money Laundering and Compliance Unit headed by a senior general manager and other senior officials of the bank as members to comply with the law, rules and instructions. The manager of each and every branch is designated as a compliance officer and a compliance team is formed with his or her deputies as members. The compliance teams thoroughly check every transaction daily and they send reports on STRs and CTRs to the Central Control Board and the Central Bank of Myanmar without any delay.
Human Resource Development
Acknowledging the invaluable contribution to our progress by our devoted staff, we continue to place emphasis on training and development aimed at improving capacity building of the staff. Various in-house training programs are conducted for members of the staff at every level to equip them with professional and technical skills with a view to enabling them to attract customers by offering excellent and reliable services. During the year 2011/12, 3 training courses on basic banking operation for 90 members of the bank staff, two training courses for 29 members of currency staff at supervisory level were conducted. It has been our well-established policy to send members of our staff to seminars and training courses conducted by the Myanmar Banks Association (MBA). In FY 2011/12, 5 members of the Bank’s staff were sent to the courses on general commercial banking conducted by MBA and 1 Bank’s officer attended the course of diploma in banking at the Myanmar Institute of Banking under the management of MBA. he number of bank staff increased from 673 to 739 at the end of March 2012, out of which 191 were employed at the Head Office and the rest at various branch offices. Compensation and benefits for the staff totaled K 1473.4 million, equivalent to 13.4 percent and 17.2 percent of the total income and total expenditure respectively.