9th Compliance Coordination Committee Meeting

The 9th meeting of the Compliance Coordination Committee was held regarding the implementation of United Nations Security Council (UNSC) relevant resolutions, joint efforts and improvement of mutual cooperation, and updating the members of the compliance coordination committee on the recent development in AML/CFT issues.

In this meeting, Mr. Jamal Naser Raofy, Director General of Financial Transactions and Reports Analysis Center of Afghanistan (FinTRACA), who chaired the meeting, Briefed the members and discussed key issues in combating money laundering, terrorist financing and other financial crimes, technical problems and shortcomings in the reporting process of banks to FinTRACA, improving the effective implementation the legal framework and AML/CFT regime as a whole and better implementation of Financial Action Task Force (FATF) the Asian Pacific Group (APG) recommendations and expressed his appreciation for the presence of the members in this committee.

He said that the outcome of the meetings of this committee is of great importance and there is a need for more and more cooperation and coordination among the members. He insisted on the members to comprehensively cooperate with each other in order to protect the financial sectors of the country from ML/TF risks and other financial crimes.

In addition, as per the agenda the members of the committee presented the key issues, including the implementation of the permanent freezing order on UNSCR (1267-1988); Effective implementation of AML/CFT laws and regulations, updating the KYC forms as per regulation and extension of time for receiving Afghan Customs Clearance Documents (ACCD) forms based on justifiable reasons and prior notification to R&CD were discussed.

Lastly, it was asked that the providing timely responses to the inquiries of DAB's relevant departments especially FinTRACA, obtaining sufficient supporting documents for LCTRs, eliminating deficiencies in the reports according to DAB's instructions, strengthening further coordination between Compliance and operational departments of the commercial banks.
It’s notable that this meeting was held on 18/06/2023 at the head office of Da Afghanistan Bank, during which the Executive Director of Afghanistan Banking Association (ABA), the deputy director general of the Risk and Compliance Department (R&CD) of DAB, Representative of the AML/CFT unit of Banking Supervision Department (BSD) and the Chief Compliance officers of the commercial banks have attended the meeting.