Regional: Developing Anti-Money Laundering and Combating the Financing of Terrorism Approaches, Methodologies, and Controls (Subproject B)
Subproject B is part of the cluster regional capacity development technical assistance (TA) that supports the banking and finance sectors in developing member countries (DMCs) of the Asian Development Bank (ADB) to improve the implementation of anti-money laundering and combating the financing of terrorism (AML/CFT) regulatory measures, and strengthen the capacity of domestic banks and nonbank financial institutions (NBFIs) to comply with the requirements of the Financial Action Task Force (FATF). The DMCs that were originally covered by the TA are Bhutan, Mongolia, Papua New Guinea, and the Philippines. Post-circulation of the Technical Assistance Subproject report, the following additional DMCs have also signified their interest to be part of Subproject B: Nepal, Sri Lanka, Tajikistan, Thailand and Vietnam. In total, Subproject B will now support nine DMCs.
Project Details
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Project Officer
Seed, Graeme M.
Office of Anticorruption and Integrity
Request for information -
Country/Economy
Regional -
Sector
- Finance
Related Projects
| Project Name | Developing Anti-Money Laundering and Combating the Financing of Terrorism Approaches, Methodologies, and Controls (Subproject B) | ||||||||||||
| Project Number | 50258-003 | ||||||||||||
| Country / Economy | Regional Bangladesh Bhutan Kazakhstan Kyrgyz Republic Lao People's Democratic Republic Mongolia Nepal Pakistan Philippines Marshall Islands Samoa Sri Lanka Tajikistan Thailand Viet Nam |
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| Project Status | Active | ||||||||||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth Regional integration |
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| Drivers of Change | Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Finance / Banking systems and nonbank financial institutions |
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| Gender Equity and Mainstreaming | No gender elements | ||||||||||||
| Description | Subproject B is part of the cluster regional capacity development technical assistance (TA) that supports the banking and finance sectors in developing member countries (DMCs) of the Asian Development Bank (ADB) to improve the implementation of anti-money laundering and combating the financing of terrorism (AML/CFT) regulatory measures, and strengthen the capacity of domestic banks and nonbank financial institutions (NBFIs) to comply with the requirements of the Financial Action Task Force (FATF). The DMCs that were originally covered by the TA are Bhutan, Mongolia, Papua New Guinea, and the Philippines. Post-circulation of the Technical Assistance Subproject report, the following additional DMCs have also signified their interest to be part of Subproject B: Nepal, Sri Lanka, Tajikistan, Thailand and Vietnam. In total, Subproject B will now support nine DMCs. Subproject A has successfully supported the targeted DMCs to expand the reach of domestic AML/CFT reforms beyond the banking sector and into other targeted risk areas, particularly NBFIs and DNFBPs. Subproject B intends to deepen the impact of these reforms by helping the governments of the targeted DMCs to ensure that the improved regulatory frameworks are adequately implemented by the domestic banking sector, NBFIs and DNFBPs. This is foreseen to entail a deeper level of engagement with covered persons from within these sectors, including focused interventions to train compliance officers in the private sector, and assistance to develop or improve internal AML/CFT governance structures, policies and processes. |
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| Project Rationale and Linkage to Country/Regional Strategy | Considering that Subproject A managed to provide technical assistance aimed at strengthening the compliance functions within domestic banks and NBFIs, and supported FIUs and regulators to improve regulatory frameworks, Subproject B is expected to expand the impact of the TA by providing more resources to: (i) further deepen the initial assistance provided, by ensuring that the trainings, tools and guidelines delivered under Subproject A actually translate to improved compliance programs, systems and practices; (ii) broaden the reach of the assistance to a wider number of banks and NBFIs, and to DNFBPs; and (iii) strengthen national corporate registration systems and data sources, which will - in turn - improve the effectiveness of the CDD performed by domestic entities. | ||||||||||||
| Impact | Legal and institutional systems to combat money laundering and the financing of terrorism are established and implemented effectively. | ||||||||||||
| Project Outcome | |
|---|---|
| Description of Outcome | Capacity of DFIs to comply with the Financial Action Task Force AML/CFT requirements strengthened |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | a. AML/CFT risk-based due diligence rules and procedures are developed and implemented by the selected DFIs. b. The capacity of DFIs to effectively use adequate CDD tools and approaches, including the identification of ultimate beneficial ownership, is enhanced. |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Bangladesh - Nation-wide; Bhutan - Nation-wide; Kazakhstan - Nation-wide; Kyrgyz Republic - Nation-wide; Lao People's Democratic Republic - Nation-wide; Marshall Islands - Nation-wide; Mongolia - Nation-wide; Nepal - Nation-wide; Pakistan - Nation-wide; Philippines - Nation-wide; Sri Lanka - Nation-wide; Tajikistan - Nation-wide; Thailand - Nation-wide; Viet Nam - Nation-wide |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Business Opportunities | |
|---|---|
| Consulting Services | Consultants will be engaged by ADB in accordance with its Guidelines on the Use of Consultants (2013, as amended from time to time). |
| Responsible ADB Officer | Seed, Graeme M. |
| Responsible ADB Department | Office of Anticorruption and Integrity |
| Responsible ADB Division | AIPD |
| Executing Agencies |
Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550, Philippines |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | 09 Jul 2018 to 09 Jul 2018 |
| MRM | - |
| Approval | 11 Jan 2019 |
| Last Review Mission | - |
| Last PDS Update | 15 Jan 2019 |
TA 9706-REG
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 11 Jan 2019 | - | 11 Jan 2019 | 31 Dec 2020 | 31 Dec 2023 | - |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 2,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,000,000.00 | 17 Jun 2022 | 1,219,107.40 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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Evaluation Documents See also: Independent Evaluation
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Related Publications
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Tenders
| Tender Title | Type | Status | Posting Date | Deadline |
|---|---|---|---|---|
| International AML Expert (Bangladesh) | Individual - Consulting | Closed | 19 Jan 2023 | 25 Jan 2023 |
| Project Management and Anti-Money Laundering | Individual - Consulting | Closed | 02 Dec 2021 | 08 Dec 2021 |
| International AML/CFT Expert (Kyrgyz Republic) | Individual - Consulting | Closed | 19 May 2021 | 01 Jun 2021 |
| International AML/Legal Expert (Tajikistan) | Individual - Consulting | Closed | 08 May 2021 | 21 May 2021 |
| International AML Expert (Marshall Islands) | Individual - Consulting | Closed | 01 Apr 2021 | 07 Apr 2021 |
| International AML Expert (Viet Nam) | Individual - Consulting | Closed | 05 Sep 2020 | 11 Sep 2020 |
| International Expert (Bangladesh) | Individual - Consulting | Closed | 10 Jul 2020 | 12 Jul 2020 |
| International AML Expert (Sri Lanka) | Individual - Consulting | Closed | 22 May 2020 | 01 Jun 2020 |
| International AML/CFT Expert (Real Estate Agents and Dealers of Precious Metals and Stones) | Individual - Consulting | Closed | 09 May 2020 | 17 May 2020 |
| International AML/CFT Expert (Accountants and Lawyers) | Individual - Consulting | Closed | 09 May 2020 | 17 May 2020 |
| International AML/Legal Expert (Lao PDR) | Individual - Consulting | Closed | 08 Apr 2020 | 17 Apr 2020 |
| International AML/CFT Expert (Samoa) | Individual - Consulting | Closed | 07 Apr 2020 | 16 Apr 2020 |
| International AML Expert (Nepal) | Individual - Consulting | Closed | 14 Feb 2020 | 20 Feb 2020 |
| International AML Expert (Thailand) | Individual - Consulting | Closed | 12 Feb 2020 | 20 Feb 2020 |
| National Institutional Development Consultant | Individual - Consulting | Closed | 08 Feb 2020 | 14 Feb 2020 |
| International AML/CFT Expert (Philippines - SEC) | Individual - Consulting | Closed | 31 Jan 2020 | 13 Feb 2020 |
| International AML Expert (RMI) | Individual - Consulting | Closed | 25 Jan 2020 | 07 Feb 2020 |
| International AML Expert (Mongolia) - SRBs for Lawyers, Notaries, Accountants | Individual - Consulting | Closed | 21 Jan 2020 | 03 Feb 2020 |
| National AML/CFT Expert (Tajikistan) | Individual - Consulting | Closed | 10 Sep 2019 | 23 Sep 2019 |
| To develop an Online AML Reporting System for FID Bhutan | Firm - Consulting | Closed | 05 Sep 2019 | 30 Sep 2019 |
| International AML/CFT Expert (Tajikistan) | Individual - Consulting | Closed | 28 Aug 2019 | 08 Sep 2019 |
| National AML Expert (Philippines) | Individual - Consulting | Closed | 13 Aug 2019 | 11 Sep 2019 |
| International AML Expert (Mongolia) | Individual - Consulting | Closed | 13 Aug 2019 | 26 Aug 2019 |
| International AML/CFT Expert (Nepal) | Individual - Consulting | Closed | 28 Jun 2019 | 10 Jul 2019 |
| Mongolia: International AML Expert | Individual - Consulting | Closed | 24 May 2019 | 06 Jun 2019 |
| Mongolia: National Training Consultant (Project Management Consultant) | Individual - Consulting | Closed | 24 May 2019 | 06 Jun 2019 |
| Mongolia: National Training Consultant (Computer Tools to aid Financial Investigation) | Individual - Consulting | Closed | 24 May 2019 | 11 Aug 2019 |
| International AML/Legal Expert | Individual - Consulting | Closed | 13 Mar 2019 | 26 Mar 2019 |
| Developing Anti-Money Laundering and Combating the Financing of Terrorism Approaches, Methodologies, and Controls (Subproject B) | Individual - Consulting | Closed | 21 Feb 2019 | 06 Mar 2019 |
| Project Management and Anti-Money Laundering | Individual - Consulting | Closed | 12 Feb 2019 | 25 Feb 2019 |
Contracts Awarded
No contracts awarded for this project were found
Procurement Plan
None currently available.