Kingdom of Bahrain: Detailed Assessment on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2007/134, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Detailed Assessment on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Bahrain. The assessment was based on the 2003 Financial Action Task Force (FATF) 40 Recommendations. The assessment identifies recommendations on how certain aspects of the system could be strengthened. The assessment reveals that the AML/CFT effort is taken seriously in Bahrain and the Kingdom has worked hard over the past few years to implement an extensive AML framework to address the risk of money laundering.

Keywords: ISCR; CR; capital markets licensee; due diligence; court order; account opening; compliance officer; legal system; penal code; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Capital markets; Terrorism financing; Legal support in revenue administration; Middle East; South Asia; Bahrain stock exchange; customer due diligence; Bahrain's FIU; assessment methodology; Insurance (search for similar items in EconPapers)
Pages: 94
Date: 2007-03-29
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