Monday 18 June 2018

IIB staff to get anti-money laundering training

Manama, October 19, 2010

International Investment Bank (IIB), a Bahrain-based Islamic investment bank, said it has signed a strategic agreement with Trident Financial & Accounting Consulting to provide online anti-money laundering training to its staff.

Trident Financial is a renowned consulting firm in the Bahrain with associated offices in the UAE and Toronto.

Commenting on the deal, Mazar Jalal, head of compliance at IIB, said: 'Money laundering is an evolving threat to the region’s financial industry and we need to keep our staff up to date with the latest developments in this regard.'

'Money launderers are actively working on mechanisms to penetrate the banking cycle and unless our staff receive timely training, we are exposed to reputation and compliance risk,' he stated.

IIB undertakes two core business activities - private equity and real estate - and has an authorised capital of $200 million and a paid up capital of $43 million.

Tariq Ali, managing director of Trident Financial, said it was delighted at the opportunity to offer IIB round-the-clock anti-money laundering training solutions.

'Such solutions are one of our core competencies and we are geared to enhance them in a timely manner to combat money laundering and terrorism financing,' he added.-TradeArabia News Service

Tags: Bahrain | International Investment Bank | Anti-money laundering | Trident Financial |

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