Deeq A. Posted November 9, 2021 In the third quarter of 2024, Somalia will go through an evaluation that will assess the country’s laws, regulations, frameworks and institutional oversight for combating money laundering and terrorism financing across the financial and non-financial sectors. As a member of the Middle East and North Africa Financial Action Task Force “MENAFATF” (a regional-style body of FATF - the global anti-money laundering watchdog), Somalia is expected to have implemented a range of local and internationally agreed frameworks, recommendations and UN Resolutions on anti-money laundering and countering the financing of terrorism by this time. This assessment, so called “mutual evaluation” will be carried out by other MENAFATF member assessors with the oversight of FATF. Source: Hiiraan Online Share this post Link to post Share on other sites
