Interior Minister hails accreditation of Bahrain’s follow-up anti-money laundering report

Interior Minister and Head of the committee to counter extremism, money laundering, and terrorism, General Shaikh Rashid bin Abdullah Al Khalifa, today hailed the accreditation of the second follow-up report of the Kingdom of Bahrain in combating money laundering and terrorism financing and the implementation of international standards.

 

The accreditation was during the Middle East and North Africa Financial Action Task Force (MENAFATF) meeting.

 

The Interior Minister highlighted the successful efforts of Bahrain in the endorsement of many new laws and action plans based on the report’s recommendations. The efforts have contributed to the international recognition of the Kingdom and its progress in upgrading its systems and compliance with the latest recommendations of the Financial Action Task Force (FATF).

 

He said that the Kingdom is dedicated to promoting efforts as members of the MENAFATF and the assignment of the Financial Intelligence Directorate as a national centre to fight terrorism financing and money laundering. He noted that work would continue to achieve the targeted goals.

 

He said that Bahrain continues with its commitment to implementing the recommendations related to combating money laundering, terrorism financing and weapon proliferation. He stressed that the committee’s formation aims to push forward efforts of Bahrain in this regard and its position on the global map.

 

The Interior Minister expressed thanks and appreciation to the committee members for their ongoing dedication to fight extremism, terrorism and money laundering. He hailed the role of the panel in setting related policies and providing data for the report.

 

The MENAFATF has hailed the measures and procedures of Bahrain through national commitment and the formation of the committee that has reflected in increasing the compliance level since the 2018 assessment.

 

Source: Bahrain News Agency

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