Djibouti is preparing to submit to the evaluation of the anti
money laundering and terrorist financing of the Financial Action Group for > Middle East and North Africa (MENAFATF), it was learned Wednesday from the Central Bank of
Djibouti (BCD).
The BCD organized a preparatory workshop on Tuesday in this regard, with the collaboration of the Bank
global.
The objective of this workshop is to recall the principles and challenges of the evaluation of Djibouti which will be
soon to be carried out by THE FINANCIAL EXPERTS OF THE MENAFATF, only two years after the accession of br countries to this organization.
In a statement issued to this effect, the BCD said that the financial sector must accompany
the country's positive developments in all areas.
"Our country has a strategy that is bearing fruit within the framework of the 'Djibouti 2035' political vision. That's
why Djibouti's financial centre, which is an important tool for the country< development, must > imperatively follow this curve of evolution by strengthening its devices and tools", a
estimated the governor of the Central Bank of Djibouti, Ahmed Osman, quoted in this document.
According to him, it must correspond to the best in the world and be up to standards
international.
Recalling that his country has been actively working for some years to profoundly transform its place
Financial and bring it into line with all international requirements, But Osman said that
the strengthening and especially the updating of all the mechanisms that regulate financial vigilance in Djibouti
remain a major challenge.
Established in 2004, MENAFATF is an independent regional organization for control
against money laundering and terrorist financing.
Composed of representatives of 14 member countries, the MENAFATF aims to implement the 40
FATF recommendations as well as relevant UN treaties, agreements and resolutions through the adoption of
provisions for the fight against money laundering and terrorist financing throughout
the region, in an efficient manner and with respect for the particularities of the member countries.
As a reminder, Djibouti recorded an increase of 55 ranks in the Doing Business 2019
on the business climate, published last November by the World Bank.
Ranked 154th in the world last year, Djibouti, which this year comes in 99th place, is non
only among the top 100 economies in the world but especially in the 10 economies that have the most
progressed under the World Bank's evaluation criteria.