BRIEF SUMMARY OF MUTUAL EVALUATION WORKSHOP HELD IN KUWAIT

Somalia Financial Reporting Center has participated AML/CFT Mutual evaluation workshop held in Kuwait on September 22 – 26, 2019. The workshop organized by the International Monetary Fund’s Middle East Centre for Economic and Finance (IMF-CEF).

The workshop was covered cross cutting issues designed for conducting mutual evaluation process like engagement with assessor body before and after onsite visit including the face-to-face meeting, plenary related discussions and an overview of the Financial Action Task Force (FATF) standard on how to demonstrate the effectiveness of AML/CFT systems.

The participants of the course were representatives from various institutional agency of MENAFATF member countries like Legal drafters, financial intelligence unit officials, policy makers, financial sector supervisors, regulators of designated non-financial businesses and professions; criminal justice officials; and other officials who are anti-money laundering and combating the financing of terrorism (AML/CFT) stakeholders preparing for the mutual evaluation of their respective countries.

The workshop was designed to increase the expertise of the participants on mutual evaluation processes, understand and address milestones and challenges related to it, support efforts of their respective countries to prepare for and undergo to carry out a successful mutual evaluation tasks.