The National Anti-Money Laundering and Countering the Financing of Terrorism Committee (the Committee) acts as a board to the FRC.

The Committee is comprised of the Minister of Finance who chairs the Committee, the Governor of the Central Bank of Somalia, the Ministers of Justice, Commerce and Industry, and National Security, the Attorney General, the Director of the National Intelligence and Security Agency, as well as the Director of the FRC.

1. Chairman, Ministery of Finance.
2. Governor of Central Bank of Somalia.
3. Minister of Justice.
4. Attorney General.
5. Ministery of Commerce & Industry.
6. Minister of National Security.
7. Director of  the National Intelligence Service Agency.
8. Director of the Financial reporting Center.

The NAMLC is responsible for appointing the Director of the FRC, setting strategic priorities for the FRC, articulating a national Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Strategy, and coordinating AML/CFT assessments and evaluations.

1. Appoints Financial Reporting Center Director,
2. Sets Strategic priorities for the Financial reporting Center,
3. Articulates  a National AML/CFT Strategy,
4. Coordinates AML/CFT assesment and avaluations

The FRC, in turn, reports back to the Committee. Funding for the work of the FRC is provided by the Central Bank of Somalia.