(MENAFN- Kuwait News Agency (KUNA)) By Kholoud Al-Enezi
MANAMA, Nov 13 (KUNA) -- Chairman of the Kuwait Financial Intelligence Unit (KFIU) and Chairman of the National Committee, Dr. Hamad Al-Mekrad, affirmed on Thursday Kuwait's strong commitment to supporting international partnerships in confronting common challenges related to money laundering and financing of terrorism.
This came in a statement for KUNA on the sidelines of his participation in the 41st General Meeting of the Middle East and North Africa Financial Action Task Force Group (MENA FATF) held in Manama, Bahrain, in the period between 9 to 13 of November with the participation of the National and International Committees concerned with combating money laundering and terrorist financing.
He noted that the meeting included discussions on the most prominent challenges and modern ways in the field of combating money laundering and terrorist financing, in addition to holding a number of meetings of technical and regional working groups.
He pointed out that KFIU signed a memorandum of understanding on the sidelines of the meeting with the Tunisian, Libyan, and Mauritanian Financial Intelligence Units, as part of its keenness to expand its international cooperation network with its counterparts from the Financial Intelligence Units that are members of the group.
It also affirms its commitment to supporting global efforts aimed at protecting the financial system from illicit exploitation.
He noted that signing the memoranda represents a significant step towards strengthening cooperation in the field of financial intelligence exchange, and that it is a priority in the next phase to expand the scope of international cooperation and raise the efficiency of information exchange.
He added that the MoU contributes to supporting the efforts of both countries in combating financial crimes and enhancing the efficiency and effectiveness of relevant national systems. (end)
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