(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, April 25 (KUNA) -- The State of Kuwait Tuesday called for exchanging information on anti-money laundering and counterterrorism efforts.
In his speech to the 25th Middle East and North Africa Financial Action Task Force (MENAFATF) meeting, the Executive at the Ministry of Finance Talal Al-Sayegh said that crimes connected with terrorism and money laundering required a strong effort on part of the international community to eradicate them.
As a nation, Kuwait had developed its apparatuses to combat money laundering and terrorism, said the official who affirmed that his country was eager to share its experiences within these mainframes.
He said that Kuwait was glad to have earned MENAFATF trust via transforming its position within the realm of anti-money laundering and counterterrorism measures, revealing that his country was upgraded from the task force's revision list and was now categories as a country that is developing efforts to combat financial crimes.
Al-Sayegh affirmed that Kuwait would continue its quest to priorities efforts for transparency in finance to prevent evildoers from being supported.
On his part, MENAFATF Executive Secretary Dr. Waleed Al-Sheikh lauded Kuwait's efforts within combating financial fraud, saying that the GCC country was amongst the first nations in the region to issue laws against money laundering.
He commended Kuwait's efforts to adjust its position in the organization, affirming that it was no easy task.
Kuwait still plays a vital role in supporting MENAFATF mission to combating terrorism and other types of financial crimes, said the official.
The Middle East and North Africa Financial Action Task Force (MENAFATF) was established in 2004 as an organization that adheres to the UN and UNSC conventions against money laundering. The body includes 18 member states. (end) km.gta
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