ICCAB History
The Insurance Company Chief Anti Money Laundering Compliance Officers Association in Bangladesh (ICCAB) was established in 2024 to unite, empower, and support Chief Anti Money Laundering Compliance Officers (CAMLCO's) with the Bangladeshi insurance industry. The Association aims to uphold the highest standards of Anti-Money Laundering and Counter Terrorist Financing (AML/CFT) compliance and contribute to Bangladesh’s efforts to combat money laundering and terrorism financing. All Life / Non-Life companies licensed under the Insurance Development Regulatory Authority (IDRA) are in scope. Bangladesh Financial Intelligence Unit (BFIU) provides the necessary guidance and regulates AML/CFT-related activities in the Insurance Industry.
Mission
The mission of ICCAB is to unite CAMLCOs from across the insurance sector and empower them with the necessary tools, skills, and collaboration to effectively combat financial crimes. It is committed to upholding professional excellence in AML/CFT compliance through training, capacity building, and strong coordination with the Bangladesh Financial Intelligence Unit (BFIU). ICCAB will promote continuous knowledge exchange, provide guidance to members, and strengthen institutions to detect, prevent, and mitigate AML/CFT risks. By supporting the national agenda of financial transparency and stability, ICCAB strives to protect the integrity of the insurance industry while aligning with global standards. Its mission is to ensure that Bangladesh’s insurance sector remains credible, resilient, and future-ready.
Vision
ICCAB’s vision is to emerge as the leading platform for Chief Anti Money Laundering Compliance Officers in Bangladesh’s insurance industry. It seeks to ensure that every life and non-life insurance company licensed under IDRA operates with the highest standards of AML/CFT practices. The Association aims to strengthen the compliance culture, promote transparency, and contribute significantly to national and international initiatives to combat money laundering and terrorist financing. ICCAB envisions a future where the insurance industry of Bangladesh is recognized globally as a strong and compliant financial sector.
