Syria launches its national strategy to combat money laundering, terrorist financing and proliferation
The Chairman of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Authority, Safwat Raslan, launched on Tuesday (July 21st) the National Strategy to Combat Money Laundering, Terrorist Financing and Arms Proliferation, in cooperation with the United Nations Development Programme (UNDP), at the Dama Rose Hotel in the capital, Damascus.
The launch ceremony was attended by high-level official attendees of Interior Ministers Anas Khattab, Justice Mazhar Al-Weiss, Finance Minister Mohamed Youser Barnieh, Economy and Industry Mohamed Nidal Al-Shaar, Communications Abdel Salam Heikal, as well as President of the General Authority of Civil Aviation and Air Transport Omar Al-Hosari.
A common national vision and commitment to international standards
In a speech delivered during the event, Raslan explained that the preparation of this strategy is not limited to the formulation of a new regulatory document, but represents a real opportunity to consolidate a common national vision and unify efforts between the various sectors and concerned authorities, in order to ensure raising the efficiency of the system and enhancing coordination and institutional integration.
He pointed out that confronting these crimes has become a fundamental pillar of economic and financial stability, and an essential element in protecting the national economy, enhancing the integrity of the banking sector, consolidating confidence in government institutions, in addition to creating an attractive environment for investment and sustainable development.
Raslan affirmed the country's continuous commitment to developing its legislative and supervisory system in full line with recognized international standards, foremost of which are the recommendations of the Financial Action Task Force (FATF), taking into account national priorities and the specificity of the country's institutional environment.
The Chairman of the Authority pointed out that work is currently underway to complete legislative, institutional and technical reforms, and enhance the effectiveness of the field of combat efforts, in order to support official efforts to meet all international requirements and get out of the grey list as soon as possible through effective implementation and close cooperation between national institutions.
Recovery context and law enforcement challenges
UNDP Acting Resident Representative in Syria, Ruhi Al-Afghani, explained that the launch of this strategy comes in the context of the country's new priorities, especially after more than a decade of financial isolation and economic constraints.
Al-Afghani pointed out that this phase has witnessed the gradual lifting of most international sanctions, a gradual return to investment and foreign trade, in addition to the emergence of early signs of economic recovery.
He pointed out that the report and the approved frameworks constitute a practical path that redirects financial flows towards transparent official channels, and immunizes the local economy from the risks of graft activities through reliable frameworks that directly contribute to accelerating the exit from the grey list.
For his part, Minister of Justice Mazhar Al-Weis stressed that the government attaches utmost importance to the file of money laundering and terrorist financing crimes, as an integral part of efforts to consolidate the rule of law, strengthen the rules of integrity and transparency, and protect the security of the economy and society from the risks resulting from illegal financial activities.
Minister Alweis said that combating these crimes is no longer the responsibility of a single state, but has become an international collective responsibility that requires building effective partnerships based on trust, cooperation, and the exchange of information and technical and judicial expertise.
Preventive measures and an integrated law enforcement system
Minister of Interior Anas Khattab revealed the most prominent challenges posed by thorny financial crimes to security, stability and the rule of law, stressing that the Ministry of Interior plays a pivotal and key executive role in the national system.
Khattab indicated that the Ministry is working to apply law enforcement rules, uncover the secrets of financial crimes, prosecute organized criminal networks, develop the capabilities of research and challenge units, and update the mechanisms for collecting and moving information in direct and organized coordination with the Anti-Money Laundering Authority, the Public Prosecution and judicial authorities.
The Minister of Finance, Mohamed Yousr Barnieh, pointed out that the fight against financial doubts is the cornerstone of protecting national economies, stressing that it has gone beyond the narrow concept of supervision or banking to become linked to the soundness of the financial system as a whole and the stability of the business environment.
For his part, Minister of Economy and Industry Mohamed Nidal Al-Shaar stressed that the development of national frameworks provides an integrated legal basis that includes preventive measures, the application of sanctions and international cooperation.
Al-Shaar explained that the current steps aim to support the independence of the Financial Intelligence Unit and enable it to receive and evaluate suspicious transaction reports and link them electronically to all regulatory and judicial authorities to ensure speed and effectiveness.