The Governor of the Palestine Monetary Authority Participates in International Conference on Combating the Financing of Terrorism in France
Paris
His Excellency Dr. Azzam Shawwa, the Governor of Palestine Monetary Authority, participated in the International Conference on Combating the Financing of Terrorism in Paris, France on April 25 and 26, 2018. Mr. Shawwa was accompanied by the Financial Follow-Up Unit Director Mr.Wael Lafi and state institutions’ representatives. Ministers and senior financial and banking officials from across the world took part in the Conference as well as foreign ministers who headed the delegates of their countries, including Dr. Riad Malki, Palestinian Minister of Foreign Affairs and Expatriates. The Conference addressed cooperation to combat financing of terrorism from legal, practical, and technical perspectives in round table talks and plenary sessions. The Conference also addressed the means of financing terrorism and violent extremism and combating organized crime in order to dry out terrorism funding.
His Excellency Mr. Shawwa briefed a plenary session headed by the French Minister of Justice Nicole Belloubet. The plenary session addressed the legal consequences of terrorism financing including criminalization and abuse of financial information and needs for cooperation through exchange of financial information. His Excellency addressed the soundness of Palestinian banking system and the efforts of PMA to develop and ensure financial stability and inclusion and commitment to international banking standards. Mr. Shawwa also briefed the plenary session about the efforts of Palestine to safeguard all economic sectors from abuse. This is conducted through sound public policy that aims to combat money laundering and terrorism financing in the financial and business sectors and non-finance professions. The most prominent among the efforts is the completion of the national assessment of the risks of money laundering and terrorism financing in preparation for Palestine to be assessed by the Middle East and North Africa Financial Action Task Force (MENAFATF)in 2020.
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