ABA and FinTRACA Coordination Meeting
Date: September 02, 2019
ABA with coordination of FinTRACA arranged ABA’s member Banks - FinTRACA Coordination meeting on September 02, 2019, to address the problems and strengthen compliance regime within the banking sector of Afghanistan. The meeting was attended by Chief Compliance, Risk Management & Chief Operation of the Banks, Director General FinTRACA, Da Afghanistan Bank, Financial Supervision Department (FSD) and ABA representatives.
Agenda:
1. LCTR (Large Cash Transactions) and FTT (Financial Transfer Transactions) reporting to DAB.
2. ACAMs certification for Compliance Department Employees.
3. Update on the status of FATCA reporting for Afghan banks.
4. Update of AML/CFT Law, if upcoming. Annual KYC reviews of high risk customers only
5. Support for the banking industry platform to exchange information on duplicated invoices / customs documents / suspicious transactions
6. New draft DAB regulations; current status, implementation timeline and consultation needs.
7. Information needs / cooperation issues with banks.
The meeting was Chaired Mr. Nesar Ahmad Yosufzai Director General FInTRACA, co-chaired by FSD with contribution of ABA. The meeting was productive, the banks problems on compliance issues were discussed, recommendations welcomed by DAB-FinTRACA and certain action plans were proposed to be implemented for smooth running of the banking.
