Afghanistan Banks Association

د افغانستان د بانکونو ټولنه
Afghanistan Banks Association
Voice of The Banks

Afghanistan Banks Association

ABA conducted Governance, Risk and Compliance (GRC)Committee meeting

date: February 19, 2020

To be in line with AML/CFT regulation, have predictable measures and to enrich the regulation further, ABA conducted Governance, Risk and Compliance (GRC)Committee meeting on February 19, 2020. In the meeting, banks comments on AML/CFT responsibilities and preventive measures regulation was reviewed and thoroughly discussed. The regulation was earlier shared by Da Afghanistan Bank with ABA to be shared with banks for review and comments. By sharing the regulation with banks, they were given opportunity to incorporate their justifiable recommendations, figure out constraints they face in their routine banking transactions in terms of AML/CFT.
The meeting was attended by Chief of Compliance/Risk of Bank and ABA. During the meeting, the regulation was reviewed by the technical GRC committee and 13 agreed recommendations in 7 pages to be submitted to DAB – Financial Supervision Department to be taken into consideration. By incorporation of banks comments in the regulation, compliance regime will be further strengthen and banks concerns shall be addressed. Effective compliance with AML/CFT Law and regulation, pave the way for establishment of correspondent banking relationship with foreign banks.