The Capital Market Authority organized a workshop titled “Highlighting Anti Money Laundering and Financing Terrorism Law” in collaboration with the Public Prosecution via Zoom.

The workshop  presented by Khalfan Said Al Mawali, Chief Prosecutor, Public Funds Management was attended by employees of licensed companies in the capital market and insurance sector in Oman.

The workshop  covered a number of topics including introducing the Anti Money Laundering and Combating Terrorism Law promulgated by Royal Decree No. 30/2016 and the terms and definitions therein such as money laundering crime and  terrorist act in addition to the powers and responsibilities of regulators and the measures and penalties under the law.

The workshop also dealt with due diligence measures required by the licensed companies in the capital market and insurance sector.

The workshop is part of a series of workshops related to combating money laundering and terrorism financing executed by the CMA represented by the Anti Combating Money Laundering and  Financing Terrorism Department (AML/CFT)which was created recently  in the CMA’s organizational chart  to provide for safe investment environment further to combating money laundering and terrorism financing crimes through issuance of legislations, surveillance, inspection and  furnishing awareness for the regulated entities to consolidate the efforts of the units of the governments to encounter money laundering and terrorism financing phenomenon pursuant to the law,.

The workshop was attended by compliance officers and employees of regulated companies in the capital market and insurance sectors.

Majid Mohammed Al Kiyoumi, Director of AML/CFT concluded the workshop emphasizing the role of compliance officer in putting in place the due diligence measures and training the employees in combating money laundering and terrorism financing adding that  reporting of suspicious cases shall be directly to the National Center for Financial Information.