CBE, FRA to combat money laundering, terrorism financing
Tuesday 15/October/2019 - 03:56 PM
The Financial Regulatory Authority (FRA) signed a
memorandum of understanding with the Central Bank of Egypt for promoting
cooperation in combating money laundering and financing terrorism.
The Financial Action Task Force (FATF) will assess
Egyptian measures for combating money laundering and financing terrorism in the
first quarter of 2020.
Under the memo, the two sides will exchange
expertise with regard to policies and working mechanisms for combating money
laundering and financing terrorism, FRA chairman Mohamed Omran said in a
statement on Tuesday.
CBE Deputy Governor Gamal Negm said the two sides
will also exchange classified data in the domain.
