BLOG POST

The meeting took place in the Ministry of Finance, Federal government of Somalia. Central on 01st March 2023 with the presence of all Committee members and head of Notaries and Lawyers.

The purpose of the meeting was to strength the relations and cooperation between government agencies and Telecommunication companies & Mobile money service providers operating in the country, Implementing decisions of the National Anti-money laundering committee and countering terrorist financing as a part of the financial disruption strategy.

The meeting took place in the Ministry of Finance, Federal government of Somalia. Central on 26th February 2023 with the presence of all Committee members and head of Banks and Remittances.

The main agenda of the meeting: Implementation of the orders issued by the Committee, FRC’s annual report, Targeted financial sanctions listing, reviewing the bylaws of the committee and Mutual evaluation Taskforce.

The main agenda of the meeting: approval of the previous meeting minutes, National Risk Assessment
(NRA) Action Plan, Middle East and North Africa Financial Action Task Force (MENAFATF) budget and
warnings to the reporting Entities.

The second National Anti-Money Laundering Committee meeting took
place in Villa Somalia with the presence of 6 NAMLC members except for the Minister of Internal Security.

FGS Combating Terrorist Financing:
The Somali National Anti-Money laundering Committee (NAMLC) MEETING with CEOs of Banks, Remittances, and Mobile Money Businesses

A high-level political commitment was made the by the country’s highest office regarding Combating TF/ML

Somali Financial Reporting Center (FRC) concluded the first training on the goAML Software for Somali banks and Money Transfer Businesses (MTBs) in September and October 2022.

The Federal Government of Somalia Has Conducted and published its first National Risk assessment (NRA). The NRA will assist Somalia to understand ML/TF risks according to FATF R. 1.