| The National Committee for Combating Money Laundering and the Financing of Terrorism (AML/CFT) participates in the 36th Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) | | | 5/27/2023 8:00:00 PM | The National Committee for Combating Money Laundering and the Financing of Terrorism (AML/CFT) participates in the 36th Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) | The National Committee for AML/CFT participated in the MENAFATF 36th plenary meeting during the period from 23 to 25 May, 2023, | <div style="text-align:justify;"></div><p style="text-align:justify;"><span style="font-size:13pt;">T</span><span style="font-size:13pt;">he National Committee for AML/CFT participated in the MENAFATF 36</span><sup>th</sup><span style="font-size:13pt;"> plenary meeting during the period from 23 to 25 May, 2023, in Manama, the capital of the Kingdom of Bahrain.</span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The Omani delegation participating in the meeting was headed by Mr. Malik bin Abdullah Al Mahrooqi, Chairman of the AML/CFT Technical Committee, and membership of representatives from the Ministry of Commerce, Industry and Investment Promotion, the Ministry of Housing and Urban Planning, the Central Bank of Oman, the National Center for Financial Information and the National Committee for Combating Terrorism. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The plenary meeting discussed several AML/CFT- related topics at the regional and international levels, the mutual assessment reports of a number of member countries. The meeting also took stock of follow-up reports of some state members on the development levels of their AML/CFT systems.</span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">The working groups emanating from MENAFATF held their preparatory meetings on the sidelines of the meeting. These include the mutual assessment, technical assistance and applications team and the financial information units' team, in addition to the meetings of the risk assessment committee and the CFT expert's forum. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">Moreover, 3 MoUs were signed at the sidelines of the plenary meeting between Oman's National Center for Financial Information and its counterpart units in the Republic of Iraq, the Republic of Lebanon and the People's Democratic Republic of Algeria in the field of exchanging information related to money laundering and the financing of terrorism and linked crimes. </span></p><p style="text-align:justify;"><span class="ms-rteThemeFontFace-1 ms-rteFontSize-3">It is noteworthy that the Sultanate of Oman has started its journey and process and will undergo a mutual assessment by the Financial Action Task Force (FATF) and MENAFATF in 2024 to evaluate the level of commitment of the Sultanate's AML/CFT system to implementation of the United Nations treaties and agreements and the UN Security Council Resolutions on AML/CFT, as well as the recommendations issued by FATF</span></p> | 0x010100C568DB52D9D0A14D9B2FDCC96666E9F2007948130EC3DB064584E219954237AF3900075E4FF44B3F64489802BE694C5C6FB70300A9BCF8A0432A87429120A5B0A0EDBFF9 | | |