A delegation from a group "Minavatv" He reviews Syria’s preparations for the mutual assessment process

DAMASCUS, 23 JULY, WAM / A delegation from the Middle East and North Africa Financial Action Task Force (MENAFATF) visited the Syrian capital, Damascus, within the framework of supporting the readiness of the Syrian Arab Republic for the mutual assessment process, and enhancing the effectiveness of its national system to combat money laundering, the financing of terrorism, and the financing of arms proliferation.

The visit of the delegation, which was headed by His Excellency Hamid Saif Al Zaabi, Chairman of the Group, and included His Excellency Suleiman Al-Jibreen, Executive Secretary of the Group, and the heads of the two mutual evaluation teams of the Group, witnessed the holding of a high-level meeting with senior officials in the Syrian Arab Republic today, with the participation of His Excellency Safwat Raslan, Governor of the Central Bank of Syria, and with the participation of their Excellencies the relevant ministers, led by their Excellencies the Ministers of Interior, Justice, Economy, Industry, Finance, Endowments, and Social Affairs. Work, local administration, environment, communications and information technology, along with representatives of the competent national authorities, the Financial Information Unit, judicial authorities, law enforcement agencies, and regulatory and supervisory bodies, within the framework of national preparations for the mutual evaluation process.

This high level of government participation reflected the clear political commitment of the Syrian Arab Republic to support efforts to develop the national system and prepare for the mutual evaluation process in accordance with international standards.

During the meeting, the Syrian authorities highlighted their efforts to enhance the effectiveness of their national system and the level of coordination between the various competent authorities, in addition to the legislative and regulatory efforts and institutional reforms recently adopted, including the national strategy to combat money laundering and terrorist financing, which the Syrian Arab Republic recently announced, as a national framework that enhances integration between the competent authorities, and consolidates institutional work based on risk management, in a way that supports the development of the national system and enhances its readiness in accordance with the best international standards.

During the meeting, the Chairman of the Menavatif Group explained the importance of high-level political commitment to ensure the success of the mutual evaluation process. The group’s delegation also appreciated the level of close cooperation between the group and the Syrian Arab Republic, and the clear readiness and serious readiness of the authorities for all stages of the evaluation, in addition to the continuous development of the legislative and regulatory system in line with international best practices.

Commenting on the visit, His Excellency Hamid Saif Al Zaabi, Chairman of the Middle East and North Africa Financial Action Task Force (MENAFATF), said that this visit comes within the framework of strengthening cooperation between the group and the Syrian Arab Republic, and based on the continued commitment to support member states in developing systems to combat money laundering and terrorist financing, and enhancing their readiness for mutual assessment processes, in accordance with international standards issued by the Financial Action Task Force (FATF).

His Excellency added that the meetings held with senior officials and ministers in the Syrian Arab Republic reflected the level of high-level political commitment to continue developing the national system, enhancing coordination between the competent authorities, and providing the necessary components to support the efforts of the Syrian Arab Republic in this field, in a way that enhances its readiness for the next round of the mutual evaluation process.

His Excellency praised the launch of the national strategy to combat money laundering and terrorist financing, stressing that it represents a strategic step that reflects the national vision and political commitment to developing the national system, consolidating an institutional approach based on integration between various parties, and raising the efficiency of national coordination, which contributes to building a more effective and sustainable system in line with the best international standards and practices.

He stressed that the mutual evaluation process represents an important opportunity for countries to evaluate the effectiveness of their national systems and strengthen frameworks of coordination and cooperation between the competent authorities, in a way that contributes to protecting the integrity of the financial system and enhancing international confidence.

His Excellency indicated that the MENAFATF Group will continue to work with the Syrian Arab Republic by providing technical support, exchanging experiences, and building capabilities, which contributes to enhancing national readiness for the mutual evaluation process, supporting efforts aimed at developing the national system, and addressing strategic deficiencies in accordance with the Financial Action Task Force (FATF) methodology, in order to achieve the best results during the next stage.

For his part, His Excellency Safwat Raslan, Governor of the Central Bank of Syria and Chairman of the Management Committee of the Anti-Money Laundering and Combating the Financing of Terrorism Authority, confirmed that this visit represents an important milestone in the development of the national system for combating money laundering, terrorist financing and financing of proliferation, and reflects the level of national commitment to enhancing the readiness of the Syrian Arab Republic for the mutual assessment process in accordance with international standards.

He added: We are working in coordination with all relevant national authorities to develop the legislative and institutional environment, enhance the effectiveness of the anti-money laundering and terrorist financing system, and raise the level of coordination, information exchange and capacity building, in line with international best practices, and contribute to protecting the integrity of the financial system and supporting confidence in the national economy.

He pointed out that cooperation with the Middle East and North Africa Financial Action Task Force (MENAFATF) represents an important pillar for benefiting from technical expertise and developing national capabilities, stressing the continuation of joint work during the next phase to implement the requirements of mutual evaluation and enhance the effectiveness of the national system in order to achieve its goals and keep pace with international standards.

This visit comes within the priorities of the MENAFATF presidency to contribute to supporting future member states in mutual evaluation processes, and enhancing the effectiveness of systems for combating money laundering, terrorist financing, and financing the spread of arms in countries of the region.

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