Islamic Finance And Anti Money Laundering And Combating The Financing Of Terrorism Aml Cft PDF Download
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| Author | : Mr.Nadim Kyriakos-Saad |
| Publisher | : International Monetary Fund |
| Total Pages | : 12 |
| Release | : 2016-02-29 |
| Genre | : Business & Economics |
| ISBN | : 1513516159 |
Download Islamic Finance and Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Book in PDF, ePub and Kindle
The money laundering (ML) and terrorist financing (TF) risks associated with conventional finance are generally well identified and understood by the relevant national authorities. There is, however, no common understanding of ML/TF risks associated with Islamic finance. Some are likely to be the same as in conventional finance, but there may also be different risks. This is notably due to: (i) the complexity of some Islamic finance products; and (ii) the nature of the relationship between the institutions and their clients. The limited capacity and experience in the supervision of Islamic finance, especially in jurisdictions that face higher ML/TF risk factors represents an additional vulnerability. The Financial Action Task Force (FATF) standards are implemented without any form of tailoring to the specificities of Islamic finance. The FATF, the Islamic finance standard-setters, and the national regulators should seek a greater understanding of the specific ML/TF risks that may arise in Islamic finance and develop an appropriate response.
| Author | : Paul Allan Schott |
| Publisher | : World Bank Publications |
| Total Pages | : 292 |
| Release | : 2006-01-01 |
| Genre | : Business & Economics |
| ISBN | : 0821365142 |
Download Reference Guide to Anti-money Laundering and Combating the Financing of Terrorism Book in PDF, ePub and Kindle
This second edition of the Reference Guide is a comprehensive source of practical information on how countries can fight money laundering and terrorist financing. Aimed at helping countries understand the new international standards, it discusses the problems caused by these crimes, the specific actions countries need to take to address them, and the role international organizations play in the process. The Reference Guide is a valuable tool for establishing effective regimes to successfully prevent, detect, and prosecute money laundering and terrorist financing.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 273 |
| Release | : 2011-11-04 |
| Genre | : Social Science |
| ISBN | : 1463923937 |
Download Islamic Republic of Afghanistan Book in PDF, ePub and Kindle
Afghanistan is one of the poorest countries in the world and, after decades of ongoing conflicts and strife, it is still at an early stage of developing its legal and institutional framework. Measures have been taken to fight crime, including financial crime. Smuggling and fraud are other major sources of illegal funds. In addition, terrorism and its financing remain a major concern. A framework has been established to allow for international mutual legal assistance but it falls short of the standard and is rarely used.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 17 |
| Release | : 2011-11-04 |
| Genre | : Social Science |
| ISBN | : 1463923929 |
Download Islamic Republic of Afghanistan Book in PDF, ePub and Kindle
This report is a detailed assessment on antimoney laundering (AML) and combating the financing of terrorism (CFT) for the Islamic Republic of Afghanistan. Afghanistan is one of the poorest countries in the world, and it is still at an early stage of developing its legal and institutional framework. Even though measures have been taken to fight crime and to lay the foundations for an AML/CFT regime, current efforts are not sufficient to deal with high risk of money laundering and terrorist financing in the country.
| Author | : Nadine Schwarz |
| Publisher | : International Monetary Fund |
| Total Pages | : 21 |
| Release | : 2021-10-14 |
| Genre | : Business & Economics |
| ISBN | : 151359382X |
Download Virtual Assets and Anti-Money Laundering and Combating the Financing of Terrorism (2) Book in PDF, ePub and Kindle
The purpose of this note is to discuss the necessary anti-money laundering and combating the financing of terrorism (AML/CFT) measures and provide examples of practical solutions to implement them. In June 2020, the Financial Action Task Force (FATF) noted that both the public and private sectors have made progress in the implementation of the standards for virtual assets (VA), in particular through updates to national laws and the development of solutions to assist with the travel rule. However, challenges remain; many virtual asset service providers (VASPs) are only beginning to adopt the required AML/CFT measures, a number of jurisdictions are yet to implement the standards for VA and those that have are at the early stages of developing a supervisory regime for VASPs. At the time of drafting, no country had been assessed against the new standards and many country authorities were in the process of establishing how best to incorporate the new standards in their AML/CFT framework. For these reasons, this note does not refer to specific country examples. References to specific products and projects are made for illustrative purposes only and do not constitute an endorsement of these initiatives. This Fintech Note is based on the FATF standards and guidance, in particular those aspects that pertain to VA and VASPs.
| Author | : |
| Publisher | : World Bank Publications |
| Total Pages | : 663 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : 0821375709 |
Download Combating Money Laundering and the Financing of Terrorism Book in PDF, ePub and Kindle
Combating Money Laundering and the Financing of Terrorism: A Comprehensive Training Guide has been developed by the Financial Market Integrity Unit of the World Bank to support the World Bank's Capacity Enhancement Program on AML/CFT. The modules are comprised of the following eight Modules: Module 1 - Effects on Economic Development and International Standards Module 2 - Legal Requirements to meet International Standards Module 3a - Regulatory and Institutional Requirements Module 3b - Compliance Requirements for Financial Institutions Module 4 - Building an Effective Financial Intelligence Unit Module 5 - Domestic (inter-agency) and International Cooperation Module 6 - Combating the Financing of Terrorism Module 7 - Investigating Money Laundering and Terrorist Financing
| Author | : International Monetary Fund. Monetary and Financial Systems Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 2005-08-31 |
| Genre | : Social Science |
| ISBN | : 1498331173 |
Download Anti-Money Laundering and Combating the Financing of Terrorism - Observations from the Work Program and Implications Going Forward Book in PDF, ePub and Kindle
This paper provides a summary of the IMF and the World Bank work programs on anti-money laundering and combating the financing of terrorism following the Fund and Bank Boards' decisions in March 2004 to endorse the revised FATF standard (2003 version) and methodology for the purposes of preparing ROSCs and to expand the areas of Bank/Fund responsibility to cover the revised FATF standard comprehensively. It draws lessons on what has worked well and the challenges and discusses the work program going forward.
| Author | : International Monetary Fund. Legal Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 98 |
| Release | : 2011-11-05 |
| Genre | : Social Science |
| ISBN | : 1498338879 |
Download Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) - Review of the Effectiveness of the Program Book in PDF, ePub and Kindle
The Fund’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) program has significantly contributed to the international community’s response to money laundering and the financing of terrorism. This paper reviews how the Fund’s AML/CFT program has evolved during the past five years and discusses how the Fund could move forward in this area. The past five years have witnessed significant changes to the Fund’s AML/CFT technical assistance program. It is now being delivered more strategically than in the past and is almost exclusively funded by external resources. Its central pillar is now the AML/CFT Topical Trust Fund.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 310 |
| Release | : 2008-12-11 |
| Genre | : Social Science |
| ISBN | : 1451933592 |
Download Mauritius Book in PDF, ePub and Kindle
A detailed assessment report on Anti-Money Laundering and Combating the Financing of Terrorism for Mauritius is discussed. Mauritius is well placed to capitalize on its national strategy to diversify its economy into global financial services by taking advantage of its linkages with both African and long-standing arrangements with the larger Asian economies. Additionally, Mauritius intends to offer new products in Islamic financial services and wealth management. The investigative and prosecutorial authorities have the necessary powers to execute their respective functions.
| Author | : Nkechikwu Valerie Azinge-Egbiri |
| Publisher | : Routledge |
| Total Pages | : 159 |
| Release | : 2021-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1000351750 |
Download Regulating and Combating Money Laundering and Terrorist Financing Book in PDF, ePub and Kindle
This book analytically reviews the impact of the global anti-money laundering and counter-terrorist financing (AML/CFT) framework on the compliance trajectory of a number of jurisdictions to this framework. The work begins by examining the international financial sector reform and its evolution to inculcate the global framework for AML/CFT regulations. It challenges the resulting uniform AML/CFT due to its paradoxical impact on the compliance trajectory of African countries and emerging economies (ACs/EEs). This is done through an examination of the pre-conditions for effective regulation and compliance drivers for ACs/EEs that reveals the behavioural impact of the AML/CFT standards on the bloc of countries. Through the application of agency theory, it explores the relationship between ACs/EEs on the one hand and the international financial institutions that formulate, disseminate and facilitate compliance with the global framework for AML/CFT standards on the other. The remaining chapters review empirically the compliance pressures and resulting compliance trajectory of ACs/EEs with the AML/CFT standards. The final part of the book provides a detailed explanation of the compliance challenges of ACs/EEs and the legitimacy concerns that facilitate this. This book offers a new direction on the impact of global AML/CFT standards on ACs/EEs and contributes to the understanding of the conditions under which the global standards are likely to facilitate proactive compliance within these blocs of countries. As such it will be a valuable resource for academics, researchers and policy-makers working in this area.
