A meeting on the proposed establishment of an anti-money laundering body for the Middle East and North Africa region is to be held in Bahrain on January 13, 2004.
The meeting is being organized by the Ministry of Finance and National Economy and the Bahrain Monetary Agency (BMA), in coordination with the World Bank and International Monetary Fund (IMF).
The international meeting will discuss the technical aspects of a proposal to establish a regional organization similar to the Financial Action Task Force (FATF), the global standard setting body for combating money laundering and terrorist financing.
The forum will be attended by technical experts and anti-money laundering officers from central banks and regulatory authorities in the Gulf Cooperation Council (GCC) and throughout the Middle East region.
FATF-Style Regional Bodies (FSRBs) already exist in several regions, including Asia-Pacific, the Caribbean, Latin America and Eastern and Southern Africa. The regional groups are aimed at facilitating the adoption, implementation and enforcement of internationally accepted standards to combat money laundering and the financing of terrorism. — (menareport.com)
© 2004 Mena Report (www.menareport.com )