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Sudan compliant with standards on combating money laundering, financing terrorism

Xinhua, October 24, 2015 Adjust font size:

The Central Bank of Sudan on Friday said the Financial Action Task Force (FATF) has removed Sudan from the list of countries with regulatory problems in combating money laundering and financing terrorism.

The FATF is an intergovernmental organization responsible of developing policies to combat money laundering and terrorism financing. It also monitors countries' progress in implementing the FATF recommendations in this respect.

"The FATF has decided at the end of its meetings in Paris on Friday to remove the name of Sudan from the list of states having regulatory problems in combating money laundering and financing terrorism," Hazim Abdul Gadir, official spokesman of the Central Bank of Sudan, said in a statement.

He said the FATF's decision would allow the central bank and other Sudanese banks to perform financial transactions from and to Sudan without restrictions.

In June 2014, the Sudanese parliament endorsed a draft bill for combating money laundering and terrorism financing after regulatory problems appeared. Endit