Home | News    Sunday 20 August 2017

IMF team assesses Sudan’s efforts to combat money-laundering and terrorism financing

separation
increase
decrease
separation
separation

August 19, 2017 (KHARTOUM) - A technical team from the International Monetary Fund (IMF) has arrived in Khartoum on Saturday to follow-up on the donor fund to develop Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) system.

According to the Sudanese network Al-Shorooq, the IMF team, which conducts its tenth visit to Khartoum, includes experts from Australia, Ireland, Canada and Lebanon.

The Director of the Financial Investigation Unit (FIU), Hyder Abbas said the team provides capacity building and strategic analysis training as well as monitoring the national risk assessment and developing control mechanisms.

He pointed the IMF team’s efforts target the workers at the Central Bank of Sudan (CBoS), the FIU and the National Committee for Combating Money Laundering and Financing of Terrorism.

Abbas added the team would conduct its mission from 20 to 29 August, saying the donor fund has allocated $500,000 for Sudan in 2017 and 2018.

Along with the World Bank, the IMF provides substantial technical assistance to member countries on strengthening their legal, regulatory, institutional and financial supervisory frameworks for AML/CFT.

Financial Action Task Force (FATF), an international agency on combating money laundering and terrorism financing, in 2015 removed Sudan from its blacklist, saying the east-African nation is no longer a threat to the integrity of the international financial system.

The Sudanese parliament adopted in June 2014 a law to combat money laundering and terrorism financing that contained articles related to consolidating investigations and financial intelligence which is the enforcement mechanism that receives notifications and information from financial institutions and other parties.

Speaking at a workshop organized by the European Union (EU) under the title “Combating Terrorism and Money Laundering” last May, the projects manager at the EU mission in Khartoum, Francesca Arato, said they are determined to support Sudan to meet the international standards to combat terrorism financing and money laundering.

She disclosed that an integrated program has been developed to provide €6 million to face challenges of terrorism and money laundering in the Horn of Africa, saying that extremism has become a threat to all countries and peoples of the world.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


The influence of facetious leaders in South Sudan 2018-12-03 18:44:28 By Daniel Abushery Daniel It's like that old saying, "Everybody's talking about the weather, but nobody ever does anything about it:" Public consultation is essential and healthy where there are (...)

Will Khartoum peace agreement bring reform or maintain tyranny? 2018-12-01 05:41:01 By Duop Chak Wuol Known for operating with a vicious precision, his trademark is ruthlessness, and how he manoeuvres his political rivals is irrefutably effective. Salva Kiir, the man in (...)

US-Sudanese relations: moths to the fire 2018-11-25 11:07:23 By Muhammad Osman & Magdi el Gizouli The rapprochement between Sudan and the U.S. progresses with the pace of an anxious flirtation. Less than two years since it began in 2015, that (...)


MORE






Latest Press Releases


Progress observed at end of second month of R-ARCSS implementation 2018-10-22 06:44:02 Press Release 21 October 2018 South Sudanese government released 24 detainees in the implementation of the revitalized peace agreement said the International Committee of the Red Cross (ICRC) (...)

4th Annual Tony Elumelu Foundation Entrepreneurship Forum Announced for 25th October 2018 2018-10-15 12:38:14 PRESS RELEASE OCTOBER 14, 2018 Africa’s leading entrepreneurship-focused philanthropic organisation, the Tony Elumelu Foundation (TEF), has announced October 25, 2018, as the date for its (...)

Unity State community in Kenya supports Khartoum peace agreement 2018-08-17 08:33:21 PRESS STATMENT 14th Aug, 2018 Re: We shall Rally behind Khartoum Peace Agreement The Unity State Community Association in Kenya was established in 2010 to organize and mobilize the people of (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.