FDH BOARD OF DIRECTORS SENSITISED ON AML/CFT

Board of Directors of the FDH Bank were on 17 August 2016 sensitised on anti-money laundering and combating the financing of terrorism (AML/CFT) concepts by the FIU to enhance their support towards the bank's implementation of anti-money laundering programs.

The sensitisation workshop took place at Protea Ryalls Hotel at the request of FDH Bank. The workshop was facilitated by the FIU and the bank covered all the costs including logistics for the FIU officers.

He added that the aim of his government is to make the regulatory framework of the sector tough and conducive.

The workshop included presentations on Money Laundering, Terrorist Financing, Sanctions Screening, the FIU's Role, AML/CFT Obligations of Banks, and Governance and Compliance. The presentations contained some Financial Action Task Force (FATF) Recommendations and mutual evaluation insights..

The Board of the bank appreciated the FIU's delivery of the training.
"We appreciate your coming to train our directors. For us, it is a very important event. It is our goal that FDH bank should be fully compliant with Know Your Customer (KYC), reporting, staff training and other AML compliance issues," said Dr. Eric Sankhulani, Chairperson of the Board.

He added that the bank takes issues of AML/CFT compliance seriously and it has a desire to have common understanding on these obligations among the Board, senior management and all staff members.

In his remarks, one of the facilitators of the workshop, Joseph Kaluwa, commended the bank for taking an initiative to equip the Board on how it can further its support towards the bank's AML/CFT function.



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