BSE workshop probes money laundering
Manama, December 7, 2010
Bahrain Stock Exchange (BSE), in co-operation with Skills Finance and Leadership Consultancy and Training, organised a workshop on combating money laundering and terrorist financing.
BSE's licensed brokers and staff attended the event.
The workshop mainly discussed the techniques, stages and cycle of money laundering in markets and financial instruments, and the ways to combat it.
It also presented the risks associated with financial institutions for non-compliance with AML/CFT laws and regulations and the ways of monitoring money laundering crimes and terrorist financing effectively to go in line with international standards, in light of the regulations and international legislation issued by parties concerned.
Delegates were informed of the legislation, regulations and procedures related to the exchange that has been issued by the Central Bank of Bahrain to counter money laundering, focusing on the significance of verifying all information about those trading at the exchange and ensuring the veracity of transactions to go in line with the legislation.
The workshop also presented the requirements of executing an effective anti-money laundering and terrorist financing programme in capital markets and related institutions.-TradeArabia News Service