Jordan submits request to MENAFATF to reassess AML/CFT legislation

AMMAN — Jordan on Wednesday requested the Middle East and North Africa Financial Action Task Force (MENAFATF) to reassess the degree of conformity of legislation related to anti-money laundering and combatting the financing of terrorism (AML/CFT) with international conventions and standards, the Jordan News Agency, Petra, reported.

The request was submitted after the issuance of the Anti-money Laundering and Countering the Financing of  Terrorism Law No 20 of 2021, which was published in the Official Gazette on September 16.

Head of the National Committee for Anti-Money Laundering and Countering the Financing of Terrorism Samia Abu Sharif said that according to the request, 14 out of 21 recommendations, for which the Kingdom had received a low rating, will be reviewed.

Legislation and documents supporting the request were submitted, Abu Sharif said, adding that the results of the request will be announced in May 2022.

The Kingdom was listed as one of countries subject to increased monitoring in October, 2021, according to which it is committed to implementing an action plan within two-year periods.

The National Committee for Anti-Money Laundering and Countering the Financing of Terrorism approved special measures for implementing Security Council resolutions related to countering the financing of terrorism and proliferation.

The measures address a number of deficiencies in this field, Petra reported, adding that a special guideline was prepared to be implemented by relevant authorities subject to the provisions of the law.