ABA organized Governance Risk and Compliance Committee(GRCC)meetings
date: December 7-8, 2020
ABA Contributes to the enrichment of AML/CFT Law and the regulation
To supplement Anti Money Laundering and Combating Financing Terrorism(AML/CFT) Law and AML/CFT Responsibilities & preventive measures Regulation, ABA organized its Governance Risk and Compliance Committee(GRCC)meetings on December 7-8, 2020 to discuss the law and the regulation and share their comments with Da Afghanistan Bank(DAB) for amendments. In order to have banks' feedback and suggestion on both AML/CFT law and the regulation, ABA had shared the same with banks for their review earlier.
This meeting was attended by the Chief Compliance and Chief Risk Officer of the banks and ABA management. Mr. Najibullah Amiri ABA Executive Director chaired the meeting and shared his inputs on AML/CFT regulation.
During two days’ meetings, considering best international banking practices, ABA member banks' comments on AML/CFT Law and regulation were discussed, ideas exchanged and final comments agreed by the majority of banks were finalized by ABA to be submitted to DAB for amendment of AML/CFT Law and regulation.
Certainly, strengthening the banking compliance regime will help banks to establish correspondent banking relationships as well as ensure the best internal control.
Besides, To strengthen the GRCC stracture, election was held for Chairperson and Vice Chariperosn of the Committee. There was two nominees for the two positions. As a result, Mr. Aziz Rahmani Chief Compliance Officer AIB and Mr. Matiullah Obaidi Chief Compliance OFFICER were elected as Chairperson and Vice Chairpeson respectively.