AMMAN —
Governor of the
Central Bank of Jordan (CBJ) Adel Al-Sharkas reaffirmed the
Kingdom’s commitment to combating terrorism-financing, which he called a threat
to national economies, according to the Jordan News Agency, Petra.
اضافة اعلان
In opening remarks
at a forum on compliance with international standards of anti-money
laundering/combating the financing of terrorism (AML/CFT) in Amman on Monday,
Sharkas said that CBJ continues to issue directives and guidelines for AML/CFT
and hold capacity-building courses in the field.
The governor urged
participants in the forum, held by the Union of Arab Banks in conjunction with
the Association of Banks in Jordan, to develop ideas and initiatives that would
help lower the risks associated with financial crimes and improve adherence to
the fight against money laundering and terrorist financing.
The CBJ Governor
indicated that the National AML/CFT Committee reviewed and amended AML/CFT
legislation to comply with Financial Action Task Force standards, resulting in
a new AML/CF Law as well as a new Companies Law that addresses shortcomings in
the “actual beneficiary” side of financial operations.
He noted that
technological advancements over the last two decades have brought many new
risks and challenges as financial crimes have become more sophisticated,
emphasizing that keeping up with this evolution has become an urgent need for
supervisory and regulatory bodies.
Additionally, the
governor emphasized that more stringent customer screening must not result in
excessive risk management policies that undermine financial inclusion efforts
and force some customers to conduct financial transactions outside of the
formal financial system.
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