[AML-CFT] Anti-Money Laundering Pact With KL
- In line with the country's efforts to combat money laundering and terrorist financing, the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam, represented by the Ministry of Finance, yesterday signed a Memorandum of Understanding (MoU) with Bank Negara Malaysia to formalise their cooperation.
This is the first memorandum of understanding signed to battle money laundering and terrorist financing in Brunei.
The signing ceremony was held at the Ministry of Finance at Commonwealth Drive.
Signing on behalf of the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam was Dato Paduka Haji Ali bin Haji Apong, Permanent Secretary at the Ministry of Finance.
Representing Bank Negara Malaysia was Dato' Zamani bin Abdul Ghani, Deputy Governor of Bank Negara Malaysia.
Present to witness the signing of the memorandum of understanding were directors and senior officials from Brunei's Ministry of Finance and Bank Negara Malaysia.
The MoU marks a significant step towards stronger cooperation between the regulators and establishing a mechanism to facilitate the exchange of information concerning suspected financial transactions.
In view of the increasing cross-border activities, it has become necessary for the regulatory authorities of jurisdictions around the globe to coordinate efforts to prevent the abuse of financial systems for money laundering, terrorist financing and other forms of international financial crime.
As members of the Asia Pacific Group on Money Laundering, Brunei Darussalam and Malaysia are committed to implementing the best international standards in each country's regulatory framework, including facilitating international cooperation.
Posted By Inonu Akgun ALP to AML-CFT at 2/04/2008 11:45:00 PM