Egypt is among the best countries for combating money laundering and terrorist financing.

Egypt has achieved remarkable qualitative progress in the field of combating money laundering, terrorist financing and the proliferation of arms, in light of what an official international report showed on the results of the evaluation process carried out by the “Financial Action Group for the Middle East and North Africa”, which is at the forefront of the international references concerned with this file.

Egypt has become among the best countries in evaluating anti-money laundering and terrorist financing systems, after strenuous efforts made by the Anti-Money Laundering and Terrorist Financing Unit headed by Counselor Ahmed Saeed Khalil, efforts that were widely praised by the relevant international authorities and references, as they reflected a strong Egyptian commitment. International standards adopted in order to address this type of crime.

Counselor Ahmed Saeed Khalil, head of the Anti-Money Laundering and Terrorist Financing Unit Рbefore and during the evaluation period initiated by the experts of the Financial Action Task Force for the Middle East and North Africa, of which Egypt is a member Рcoordinated the Egyptian national efforts at the level of technical commitment, the legislative side, and the effectiveness of laws, on A way that effectively and efficiently contributed to confirming the Egyptian state’s commitment to international standards and international conventions applied in the field of combating money laundering, terrorist financing and the proliferation of arms.

The evaluation process was conducted in accordance with the compliance assessment methodology issued by the Financial Action Task Force (FATF), which represents the international body responsible for setting international standards that countries must comply with.

Keeping pace with the evaluation process came with the knowledge of the Anti-Money Laundering and Terrorist Financing Unit headed by Counselor Ahmed Saeed Khalil, as the national coordinating body for the evaluation process, in light of an exceptional global situation related to the spread of the Corona pandemic, but this matter did not prevent the completion of the necessary evaluation in cooperation with all concerned authorities, And work to fulfill a number of standards and requests that reflect the effectiveness of the Egyptian state and its commitment to international standards.

The Anti-Money Laundering Unit worked to identify legislative deficiencies in the field of combating money laundering and terrorist financing, which may not reflect the actual reality of a number of practices in the country, and to work on amending a number of laws, regulations and procedures to contribute to demonstrating the Egyptian commitment to international standards in line with the best international practices.

The Anti-Money Laundering and Terrorist Financing Unit also adopted the necessary amendments to the Anti-Money Laundering Law and its Executive Regulations, the Anti-Terrorism Law, and the Executive Regulations of the Commercial Register Law, amending the procedures for identifying customers, and other important amendments that are a fundamental pillar that contributed to demonstrating the extent of Egypt’s commitment to standards International, which was met with wide praise from international bodies for the great efforts in light of the report, which is one of the best international reports in the field of evaluating the anti-money laundering and terrorist financing system in the world.
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