SAMA GOVERNOR OPENS A WORKSHOP ON THE PREPARATION FOR MUTUAL EVALUATION




SAMA GOVERNOR OPENS A WORKSHOP ON THE PREPARATION FOR MUTUAL EVALUATION

  • 14-Feb-2017

    SAMA GOVERNOR OPENS A WORKSHOP ON THE PREPARATION FOR MUTUAL EVALUATION

    On Tuesday 14 February 2017, the Governor of SAMA as a chairman of Anti-Money Laundering Permanent Committee (AMLPC), Dr. Ahmed A. Alkholifey, opened a workshop on the Preparation for Mutual Evaluation organized by the AMLPC, in cooperation with the Secretariat of the Financial Action Task Force (FATF) and the Secretariat of Middle East and North Africa Financial Action Task Force (MENAFATF). The workshop was held during the period of 14-15/2/2017 at the Institute of Finance. The workshop aimed to prepare officials from concerned authorities with combating Money Laundering (ML) and Terrorist Financing (TF) for the Mutual Evaluation to which the Kingdom of Saudi Arabia will be subject during 2017-2018 to assess its measure relating to combating ML/TF and proliferation financing (PF). Dr. Alkholifey welcomed the experts from the FATF, MENAFATF, and the participants in the workshop for their attendance, praising their efforts to enrich the workshop, which will positively support and assist the competent authorities in the Kingdom to be well prepared for the Mutual Evaluation in the coming period.

     

    Dr. Alkholifey commended the FATF's endeavors and keenness, since its inception, to fight against crimes of ML, TF and PF, as the FATF is aware of the serious consequences these crimes can have on international security, economy, and its extension to the capabilities, resources and safety of peoples. Thus, FATF has developed and enacted a number of International Standards, procedures, and general policies (FATF 40 Recommendations) to combat ML, TF and PF. "These Recommendations represent a comprehensive and consistent framework of measures that should be applied by FATF member countries and FATF-style regional bodies (FSRBs) in order to combat ML, TF and PF," Dr. Alkholifey said.