RAMALLAH, Thursday, June 26, 2019 (WAFA) – The Palestine Monetary Authority and the European Bank for Reconstruction and Development (EBRD) concluded the day past a workshop titled, “Complying with Anti-Money Laundering and Countering Financing of Terrorism Requirements”.
The -day workshop aimed to beautify controls and preparations of anti-cash laundering and countering of financing of terrorism on the premise of the findings of the National Risk Assessment (NRA) of the crimes of cash laundering and terrorism financing as well as adopting, endorsing, and enforcing Risk Based Approach (RBA).
Azzam Shawwa, the Governor of Palestine Monetary Authority, and Pierre Heilbronn, Vice President for Policy and Partnerships of the European Bank for Reconstruction and Development, opened the workshop, which turned into attended by way of Mr. Wael Lafi, the Financial Follow-Up Unit Director, Mr. Buraq Nabulsi, the Director General of the Palestine Capital Market Authority, Mr. Mohammad Manasrah, Director of Supervision and Inspection Department at Palestine Monetary Authority, and Ms. Heike Harmgart, the Regional Director of the Eastern Mediterranean Region of the European Bank for Reconstruction and Development.
Other workshop attendants included representatives from Palestine Monetary Authority, the Financial Follow-Up Unit, Palestine Capital Market Authority, and directors and officers of anti-money laundering and countering of financing of terrorism, compliance manipulate, inner audit, hazard control at the monetary institutions which can be underneath the supervision of Palestine Monetary Authority including banks, money changers, and specialised lending establishments.
Mr. Shawwa affirmed inside the establishing remarks the soundness of the Palestinian banking gadget and the efforts of Palestine Monetary Authority to increase it and to ensure financial balance and inclusion and compliance with global banking requirements specially the efforts of Palestine to shield all sectors of the Palestinian economy and defend them from abuse.
This is carried out by way of sound popular coverage that pursuits to fight money laundering and terrorism financing within the monetary sector and non-financial corporations and professions. The maximum prominent of such efforts is the accomplishment of the National Risk Assessment (NRA) of the Risks of Money Laundering and Terrorism Financing as a step toward evaluation of Palestine by means of the Middle East and North Africa Financial Action Task Force (MENAFATF) in 2020.
Shawwa thanked EBRD for their continuous cooperation with Palestine Monetary Authority in lots of areas and their support to the banking quarter thru financing programs and the technical help they offer to the banks that function in Palestine.
Heilbronn stated EBRD turned into proud to companion with Palestine Monetary Authority and to help broaden and enhance compliance standards within the neighborhood financial quarter. He said that is key entice funding and shield and foster neighborhood businesses.