Annual Report 2019
Annual Report 2018




FinTRACA coordinated the first meeting of HLCC working committee

As per the legal provisions provided in Article 34 of the AML-PC law, the first meeting of the working committee of the High Level Coordination Commission (HLCC) was held on the 16th of February 2020, under the chairmanship of his Excellency Mr. Salim Salah, the Director General of FinTRACA. The meeting was held in FinTRACA’s main office and was attended by all twelve members of the committee representing law enforcement agencies and other government entities.

The meeting commenced with recitation of the holy Quran, followed by opening remarks from Mr. Salim Salah. Mr. He welcomed the committee members and reflected on the importance of the commencement of HLCC working committee meetings. He emphasized that the main objectives behind establishment of the working committee is to satisfy the legal requirements, facilitate HLCC terms of reference, and implement the decisions made by HLCC.

As per the meeting agenda, the deputy director general of FinTRACA, MR. Sulaiman Shafihee presented the draft procedure of the working committee to the members. The members exchanged their views and presented their recommendations concerning the draft procedure, following which, the committee agreed over presenting the said procedure to HLCC for approval.

Subsequently, Mr. Salim Salah provided detailed information about National Ml/TF Risk Assessment (NRA) and the national action plan developed as per the findings of the NRA to address the outlined deficiencies. He mentioned that FinTRACA, the coordinating body of the NRA, subjected the NRA document to a rigorous review to rectify defects concerning the structure, quality and consistency of the NRA document.

Mr. Salim Salah instructed that the reviewed and corrected NRA document should be presented to HLCC for approval and endorsement. He also emphasized that the endorsement of NRA by HLCC is highly important, as it would strengthen the measures taken to manage and mitigate ML/TF risks, and address the deficiencies identified in the NRA.

It is worth mentioning that the High Level Coordination Commission has previously held two meetings, however the working committee of HLCC hasn’t had any meeting previously. This meeting which was attended by authorized representatives from the Supreme Court, Ministry of interior, Ministry iof Foreign Affairs, Ministry of Justice, Ministry of Economy, Attorney General’s Office, Office of the National Security Council, Ministry of Finance and National Directorate of Security is the very first meeting of the working committee. Seven working committee meetings are planned to be held through the fiscal year 1399.