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Muscat – In an effort to enhance readiness for the Financial Action Task Force Mutual Evaluation (FATF), Oman Arab Bank (OAB), in collaboration with Arab Bank (AB) and the Central Bank of Oman (CBO), conducted an awareness session for financial institutions operating in Oman, showcasing best practices within the sector. The collaboration is a proactive step aimed at ensuring that Oman is well-prepared for the upcoming FATF assessment in 2024 and is set to help the country meet international standards for Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT).
During the session, Arab Bank shared its experiences regarding the FATF assessment and the potential impact of the assessment outcome. The FATF’s Mutual Evaluation assessment will determine the country’s level of deployment and compliance with the FATF's 40 recommendations, which are set as the international AML/CFT standard.
MEDIA CONTACTS
Leen Al Atassi
Head of Corporate Communications
Email: Leen.al-atassi@oman-arabbank.com