MUSCAT: After its restructuring by the Council of Ministers according to requirements of the Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) Law issued by the Royal Decree No 30/2016, the National Committee for Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) held its first meeting for 2016 under the chairmanship of Hamood bin Sanjour al Zadjali, Executive President of the Central Bank of Oman (CBO), Chairman of the Committee. The meeting discussed a range of topics on the agenda and took appropriate decisions.
The Committee elected Hussein bin Ali al Hilali, Attorney General as the Committee’s Deputy Chairman. The Committee appointed Sayyid Marwan bin Turki al Said, as the Head of its Technical Committee. Further, the Committee reviewed the requirements to be implemented to activate the AML-CFT Law. In a follow-up of the Committee to the implementation of the UN Security Council resolutions, the Committee reviewed the executive position of the mechanism of the implementation of Security Council’s resolutions relating to the prevention and suppression of terrorism and its financing, as well as stopping the spread of weapons of mass destruction and their funding.
Additionally, the Committee reviewed the progress made in the national assessment program of the risks associated with combating money laundering and terrorism financing, which aims to promote and support the national strategy by identifying the most imminent risks and threats, as well as methods used in committing such crimes and to address gaps in the control system. — ONA