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MOROCCO: Regional Workshop Trains Banking Supervisors on AML/CFT Compliance Supervision

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Casablanca, Morocco - In a move to strengthen financial institutions’ compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations, the Moroccan Financial Intelligence Unit (UTRF), in collaboration with the World Bank and the Middle East and North Africa Financial Action Task Force (MENAFATF), hosted a regional workshop for banking supervisors from May 21 to 23.

Workshop Objectives

The three-day training session aimed at introducing participants to the Risk-Based Approach (RBA) in AML/CFT supervision, with the ultimate goal of improving the sector’s effectiveness and promoting awareness of relevant supervision techniques. The RBA is a key component of the latest recommendations adopted by the Financial Action Task Force (FATF) in February.

Inauguration

The workshop was inaugurated by MENAFATF Executive Secretary Adel Hamad Al Qulish, Moroccan FIU President Hassan Alaoui, and World Bank Senior Financial Sector Specialist André W. Corterier.

Participants

A total of 50 experts from member countries participated in the training, which focused on equipping supervisors with the skills to apply the RBA effectively.

Workshop Highlights

• Focused on introducing participants to the Risk-Based Approach (RBA) in AML/CFT supervision
• Aimed at improving the sector’s effectiveness and promoting awareness of relevant supervision techniques
• Part of Phase II of MENAFATF’s efforts to train banking supervisors on AML/CFT compliance supervision, building on the success of previous initiatives aimed at strengthening the region’s financial infrastructure

Conclusion

The workshop is seen as a crucial step towards enhancing the region’s financial sector and reinforcing its commitment to combating illicit activities.