Riyadh Newspaper | The conclusion of the activities of the “Naif University” forum on combating money laundering and terrorist financing in Sharm El-Sheikh

Riyadh Newspaper | The conclusion of the activities of the “Naif University” forum on combating money laundering and terrorist financing in Sharm El-Sheikh
Riyadh Newspaper | The conclusion of the activities of the “Naif University” forum on combating money laundering and terrorist financing in Sharm El-Sheikh

The conclusion of the activities of the “Naif University” forum on combating money laundering and terrorist financing in Sharm El-Sheikh

Experts from 21 countries who attended the “Anti-Money Laundering and Terrorist Financing” forum organized by the Naif Arab University for Security Sciences in cooperation with the Union of Arab Banks, the Central Bank of Egypt and the United Nations Office on Drugs and Crime, and with the participation of the General Secretariat of the Council of Arab Interior Ministers, recommended; The importance of developing an Arab indicative guide for mechanisms for assessing the risks of anti-money laundering and terrorist financing crimes, in a way that enhances the exchange of national expertise and experiences.

The recommendations of the forum focused on the importance of strengthening partnership and cooperation between the public and private sectors with the aim of creating more support for issues of combating money laundering and financing terrorism and preventing it, benefiting from studies and scientific research specialized in this field, and working to confirm investment in training employees of the authorities concerned with combating money laundering and terrorist financing. and rehabilitating them in a scientific and technical manner, while strengthening the legislative frameworks necessary to support the operational independence of financial intelligence units, and calling for a focus on the risks of terrorism financing crimes, including developing mechanisms and procedures for combating and preventing it, as well as strengthening national procedures related to transparency and supporting the application of preventive measures by financial institutions In order to reach the real beneficiary of the transaction.

The recommendations also called for the formation of an Arab working group to study technical challenges in the field of combating money laundering and terrorist financing, including currencies, virtual assets and digital evidence, and the importance of regulatory authorities, financial institutions and law enforcement agencies benefiting from modern technological technologies in preventing money laundering and terrorist financing crimes, and benefiting from Distinguished Arab and international pioneering experiences in the application of targeted financial sanctions.

The activities of the last day of the forum, which opened on Thursday, September 1, 2022 AD, lasted for three days and was attended by more than 350 experts from the banking, judicial and security sectors, discussing various topics on money laundering and terrorist financing crimes through two working sessions. In combating money laundering and terrorist financing crimes and protecting the integrity and stability of financial systems.” The session was chaired by Mr. Hassan Arafat Bayoumi, while the second session was entitled “Best Practices in the Application of Targeted Financial Sanctions” and was chaired by Mr. Hafez Abu Al-Azm.

The article is in Arabic

Tags: Riyadh Newspaper conclusion activities Naif University forum combating money laundering terrorist financing Sharm ElSheikh

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