Here is the article formatted in markdown:

NCFI of Oman Signs MOU with Somali Financial Reporting Center

===========================================================

The National Center for Financial Information (NCFI) of Oman has signed a Memorandum of Understanding (MOU) with the Somali Financial Reporting Center (FRC). This partnership aims to strengthen cooperation in financial information exchange, anti-money laundering (AML), and combating the financing of terrorism (CFT).

Key Points of the MOU

Strengthening Cooperation

The MOU between NCFI and FRC signifies a significant step towards enhancing collaboration in areas critical for global financial stability, including AML/CFT compliance.

Financial Information Exchange

The agreement facilitates the exchange of financial information between Oman and Somalia, which is essential for monitoring and preventing illicit financial activities.

Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)

The partnership underscores the commitment of both countries to combating money laundering and terrorist financing, in line with international standards.

Mutual Evaluation

This cooperation is also relevant for the upcoming Mutual Evaluation by the Middle East and North Africa Financial Action Task Force (MENAFATF), which assesses member countries’ progress in implementing AML/CFT measures.

Impact of the Partnership

This development reflects Oman’s efforts to contribute positively to regional and international initiatives aimed at enhancing financial stability and security.