The Gulf Technical Committee discusses developments in combating money laundering and terrorist financing

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The Technical Committee for Combating Money Laundering and Terrorist Financing of the Gulf Cooperation Council held its 33rd meeting, via video conference, to discuss developments in Gulf and international efforts in this field, and to enhance coordination and exchange of experiences between the GCC countries.

The committee reviewed the decisions of the GCC Central Bank Governors Committee at its 87th meeting regarding developments in combating money laundering and terrorist financing. It also discussed the topics on the agenda of the first general meeting of the 35th session of the Financial Action Task Force (FATF), working group meetings, and requests for technical support.

The meeting discussed the latest developments related to organizing workshops and preparing technical papers, in addition to the work of the technical team concerned with preparing the guideline for the fifth round of the FATF mutual evaluation process, and following up on the priorities of the United Kingdom’s presidency of the group.

The committee also reviewed the arrangements for the Gulf Forum to exchange best practices and applications in the field of combating money laundering and terrorist financing, and a proposal to enhance work in this field, as well as the Council countries’ review of the most prominent relevant developments.