Sudan's Name Removed from List of States Having Problems in Combating Money Laundering and Terrorism Financing
24 October, 2015KHARTOUM (SUDANOW) - The Financial Action Task Force (FATF) has decided at the end of meetings held in Paris, France, Friday, to clear the name of the Sudan from the list of states having regulatory problems in combating money laundering and financing terrorism.
(FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions who represent most major financial centres in all parts of the globe. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Dr Adam Hazim Abdul Gadir, the official spokesman for the Bank of the Sudan, the Central Bank, said this decision would allow the Central Bank and other commercial banks to easily effect financial transactions from and to the Sudan without restrictions.
Hazim pointed out in a statement to the Sudan news agency that this decision comes as culmination for tremendous efforts exerted by the Central Bank and other competent authorities during the past years, in this regard.
The Sudanese Businessmen Association has commended the decision of (FATF). Saud Al Brair, the Chairman of the Union has described in a statement to the Sudan News Agency the decision as a positive step that reflect positively on the various foreign trade activities as it would facilitate the financial transaction with the outside world, a matter the private sector has been suffering from in its transactions.
He commended the efforts exerted by the central bank of the Sudan to redress the situation in the past through adoption of a number of policies and issuance of laws against financing of terrorism and money laundering.
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