CBO ramps up antimoney laundering, terror-financing awareness

The National Committee for Combating Money Laundering and the Financing of Terrorism held an awareness session on Thursday, May 19, 2022, at Sheraton Oman Hotel.

The session is part of the comprehensive awareness campaign adopted by the National Committee for AML/CFT to raise awareness among financial and non-financial sector institutions on the requirements of combating money laundering and the financing of terrorism, and to prepare for the mutual assessment process of combating money laundering and the financing of terrorism systems in the Sultanate of Oman.

Tahir bin Salim al Amri, Executive President of the Central Bank of Oman (CBO), and Chairman of the National Committee for AML/CFT, stressed in his keynote speech the continuous efforts exerted by the Omani government in combating money laundering and the financing of terrorism, noting that global financial and nonfinancial sectors are facing multiple risks related to money laundering and the financing of terrorism.

Al Amri further stressed the importance of raising awareness among institutions and companies on such risks and seeking to set in place the suitable mitigation controls as well as ensuring smooth business performance and service provision in various fields.

The first introductory session targets financial sector employees regulated by the Central Bank of Oman. Other sessions will

be held for non-financial institutions licensed by the relevant regulatory authorities concerned with implementing the requirements of combating money laundering and the financing of terrorism in the Sultanate of Oman.