Oman – National Committee for Anti Money Laundering and Combating Terrorism Financing

December 14th, 2014 by Stephen Jones Leave a reply »

The National Committee for Anti Money Laundering and Combating Terrorism Financing which held its first meeting of the year on Monday, December 8th 2014 I the Central Bank of Oman reviewed major pertinent issues concerning Anti-money laundering and counter terrorism financing laws in the country.

Held at the CBO premises, the meeting was chaired by H.E. Hamoud bin Sangour al- Zadjali, The Executive President of the CBO who is also the Chairman of the National Committee. All the members of the National Committee hailing from organizations such as ROP, FIU, Public Prosecution, Ministry of Commerce & Industry, Ministry of Justice, Capital Market Authority, Ministry of Housing, and Ministry of Social Development also attended the meeting.

The meeting discussed a number of issues listed in the agenda and took appropriate decisions in this respect. The Committee welcomed the decision of the Sultanate assuming the chairmanship of the Middle East and North Africa Financial Work Group for 2015 along with hosting the upcoming 21st General Meeting of the Group in the same year.

The Committee also reviewed the executive stance of the Technical Cooperation Program with the International Monetary Fund and the anticipated visit of the IMF experts in January 2015.

Additionally, the Committee reviewed the status quo of the project for amending the Law on Combating Money Laundering and Financing Terrorism issued under Royal Decree No. (79/2010) in addition to examining the findings of the 3rd regular follow-up report on the Law on Combating Money Laundering and Financing Terrorism in the Sultanate of Oman by the Regional Financial Work Group.

The report is an analysis of the actions taken and implemented in the Sultanate as a party to the international standards framework and the joint evaluation systems developed for combating money laundering and terrorism financing.

Advertisement

Leave a Reply

You must be logged in to post a comment.