Interior Minister and Chairman of the Committee to Combat Extremism, Terrorism and its Financing and Money Laundering, General Shaikh Rashid bin Abdullah Al Khalifa, today chaired the meeting of the committee to set policies against money laundering and terrorism financing.
The Interior Minister welcomed the committee members, commending their role in reinforcing national efforts in fighting money laundering and terrorism financing. He said that the outstanding efforts led to regional and international recognition.
In this context, the Interior Minister hailed the approval of Bahrain’s third enhanced follow-up report on the procedures and legislation for prohibiting and combating money laundering and terrorism financing. The report was approved during the Middle East and North Africa Financial Action Task Force (MENAFATF) meeting held in Bahrain.
He said that the outstanding rating is a regional and international accomplishment and reflects national efforts based on laws and legislation.
He said that the endorsement of many laws against money laundering and terrorism financing had contributed to the distinguished outcomes.
It is worth noting that, based on the results of the evaluation and review, which was carried out by a team of international experts, the general meeting of the MENAFATF approved raising the levels of commitment to several recommendations, as the number of recommendations that obtained advanced and high positions increased to 39 out of 40 recommendations approved by the Financial Action Task Force (FATF) on matters related to combating money laundering and terrorism financing at the global level.
Deputy Governor of the Central Bank of Bahrain, Shaikh Salman bin Isa Al Khalifa, expressed thanks and appreciation to the Interior Minister for his support for the committee’s efforts and initiatives, noting that his directives have had a positive impact on achieving this distinguished global achievement.
Source: Bahrain News Agency