Regarding the training programs of FY 2025-26 by compliance department, we conducted the 1st training of Transactions Reporting at Head Quarter of Farmers Development Bank Ltd-(Mandalay).
The training objectives are to understand the legal and regulatory framework for reporting, refresh reporting officers (Branch Managers) for (TTR/STR) process and monitor according to Bank’s AML/CFT Policy & Procedures.
In this training, the HOD Compliance Department brief explained compliance functions which are mainly responsible for regulatory and financial crime compliance measures to prevent and mitigate the risk, especially for AML/CFT risk. With this, Compliance (HOD) shared about professional trainings from MFIU dated 8-3-2025 and the topics are “Why FATF take EDD process to Myanmar” and “Duties on reporting TTR /STR by Banks” according to the legal and regulatory framework.
The training was delivered by U Zaw Myo Naing, Deputy Manager, Compliance Department.
A total of 40 staff (In person 23 and 17 are online) from Operations Department, Branch Managers and Deputies (Front-Line Compliance Unit), Tellers, Relationship Managers, Risk and Internal Audit Department.
During the training, the Compliance (HOD) and all attendees discussed TTR/STR reporting program and how we, FDB bank necessity care about customers (Individual and Corporate) for growing bank’s business. In addition, Compliance (HOD) recommended maintaining business coordination with customers for CDD/EDD and analyzing customers’ needs by Branch Managers.
In conclusion, Compliance (HOD) informed that compliance unit and compliance team will continue the dialogue section with Branch Managers for findings and recommendations according to the Year End Onsite Report of FY 2024-25 in June 2025. We do appreciate the CEO, HODs and all attendees for their kind support and contributions to completing training successfully.
So far, Compliance Department will conduct the Certificate Course of “Foundation of AML/CFT Functionalities” in July 2025 at Hlaing Thar Yar’s Training Center.
