Prime Minister Mostafa Madbouli said Egypt has come a long way in fighting money laundering and terrorism financing by enacting laws and introducing supervisory and regulatory rules, Ahram Online reported Tuesday (July 30th).
Egypt has set up measures to identify customers in financial institutions in line with international standards related to preventing money laundering and terrorism financing, he said at a workshop hosted by the Egyptian Money Laundering and Terrorist Financing Combating Unit.
Madbouli described money laundering and terrorism financing as the most serious threats to the stability of the global financial and economic systems.
He also stressed the need to comply with international and domestic regulatory systems, and to foster co-operation among all countries in a way that helps strengthen Arab and African economies.
The workshop was held co-operation with the Central Bank of Egypt and Middle East and North Africa Financial Action Task Force, Inter-Governmental Action Group against Money Laundering in West Africa, and the Eastern and Southern Africa Anti-Money Laundering Group.
