Thursday 19 / December / 2024
Muscat: Oman has been recognised by the Financial Action Task Force (FATF) for maintaining a high level of compliance with international standards on anti-money laundering and counter-terrorism financing in the Middle East and North Africa.
The 2024 FATF mutual evaluation report, released today, commended Oman for implementing extensive legal, legislative, and supervisory reforms to strengthen its systems. It highlighted the country’s robust legal and institutional framework for investigating money laundering and terrorism financing crimes.
According to the report, Oman’s authorities are well-equipped with resources and have swift access to financial and other essential data, enabling efficient investigations and prosecutions of these crimes.
The findings underscore Oman’s commitment to combating financial crimes and upholding international standards that promote financial integrity and economic stability. The report is also expected to enhance Oman’s financial and economic standing, bolster economic growth, and increase trust in its banking, financial, and other sectors.
As a member of the FATF through the Secretariat General of the Gulf Cooperation Council and a founding member of the Middle East and North Africa Financial Action Task Force (MENAFATF), Oman’s compliance reflects its dedication to global financial security.
