The Sharm El-Sheikh conference recommends a partnership to combat money laundering and terrorist financing

Today, in Sharm El-Sheikh, in Egypt, the work of the International Forum for Combating Money Laundering and the Financing of Terrorism, organized by the Naif Arab University for Security Sciences in collaboration with the Union of Arab Banks, the United Nations Center for Counter-Terrorism and the Central Bank of Egypt, concluded with the participation of 350 experts from the banking, financial, judicial and security sectors from 21 countries.

Forum participants recommended strengthening partnership and cooperation between the public and private sectors in order to find more support for issues related to the fight against money laundering and terrorist financing and its prevention, as well as cooperation in development of an Arab guideline for national money laundering and terrorist financing risk assessment mechanisms.

They stressed the importance of focusing on the risks of terrorist financing offenses, including the development of mechanisms and procedures to fight and prevent terrorism, and the importance for regulators, financial institutions and law enforcement agencies to take advantage of modern technological technologies in the prevention of money laundering and terrorist financing offenses.

They called for swift preparation for the process of mutual evaluation of anti-money laundering and terrorist financing systems, benefiting from prominent Arab and international experiences in applying targeted financial sanctions and investing in training workers in agencies dealing with combating crime. money laundering and terrorist financing and qualifying them in scientific and technical way.

Forum participants asked to strengthen national transparency procedures and support the application of preventive measures by financial institutions, as well as to form an Arab working group to study the technical challenges in the field of anti-money laundering. and the financing of terrorism.