Myanmar joins FATF plenary meeting in France

 

THE Myanmar delegation led by Governor of the Central Bank of Myanmar Daw Than Than Swe attended a plenary meeting of the Financial Action Task Force (FATF) and a meeting of the International Cooperation Review Group (ICRG) held in Paris, France, on 17-21 February.

During the meetings, the Governor of the Central Bank of Myanmar discussed the efforts of Myanmar in combating money laundering, financing terrorism and the proliferation of weapons of mass destruct tion as per the international criteria and recommendations of FATF, reaching nine points, attempts to complete the remaining six points in time, amendment and enactment of Counter-Terrorism Law, Trusts Act and Custody and Disposal of Exhibits Law.

She also highlighted the efforts to amend the Anti-Money Laundering Law and completely follow the Action Plan by the end of 2025-2026 FY by drafting the AML/CFT National Strategy (2024-2028), communication with foreign ex perts for technical assistance, Political Will of the country and High-level Political Commitment.

At the ICRG meeting, the Joint Patron of Asia Pacific Joint Group (APJG) discussed that Myanmar became largely compliant from partially compliant after the 13th progress report on combating money laundering and the financing of terrorism that indicated immediate outcome (10/11.1), and the deputy director-general from Asia Pacific Group (APG) highlighted the full participation of Myanmar with international organizations including FATF and APG and urged the participants to appreciate the efforts of Myanmar.

The motions of Myanmar were also discussed at the plenary meeting of FATF, and the meeting decided to put Myanmar on the list of countries subject to enhanced monitoring as normal for making progress in complying with the remaining recommendations.

MNA/KTZH

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