President Maithripala Sirisena says the Government is committed to strengthen the national economy by ensuring the purity and transparency of financial management.

The president made these remarks addressing the inauguration ceremony of the 20th Annual Meeting of the Asia/Pacific Group on Money Laundering, commenced in Colombo, today (17).

The 2017 APG Annual Meeting and Technical Assistance and Training Forum will be held in Colombo, from 17 – 21 July 2017 with the participation of local and foreign delegates from 41 member countries and several international observer organizations.

The President further said that all the countries in the world should be genuinely committed to properly implement the national and international commitments, agreements and declarations on Money Laundering to overcome the challenges faced by all the countries.

The President pointed out that the national economy of each country will be strengthened if the money laundering is prevented as well as it is very important in the international financial management.

The Sri Lankan Government has established strong statutory and legal institutions to deal with misuse of public money and money laundering, the President said that adding those institutions at present efficiently and effectively fulfill their duties.

The President also pointed out that a huge amounts of money generated by the terrorist organizations and illegal drug smugglers through the money laundering, and said that as a Government which is strongly act against the terrorism at nationally and internationally level, is well aware of the importance of preventing money laundering.

The President also emphasized that the Government will take every possible measure to work in accordance with the covenants and treaties entered internationally.

The Asia/Pacific Group on Money Laundering (APG) is an autonomous and collaborative international organization founded in 1997 in Bangkok, Thailand consists of 41 members and a number of international and regional observers. APG members and observers are committed to the effective implementation and enforcement of internationally accepted standards against money laundering and financing of terrorism, in particular the Forty Recommendations of the Financial Action Task Force on Money Laundering.

The Annual Meeting will be especially significant to Sri Lanka, as Sri Lanka becomes the APG Co-chair for the years 2016-2018.

Governor of the Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy, Attorney General Jayantha Jayasuriya, the Representatives of the Asia/Pacific Group including their Executive Secretary Gordon Hook participated in this event.

-Agencies