The Financial Market Council (CMF) and the National Commission for Combating Terrorism (CNLCT) signed a memorandum of understanding on July 17. This was in the context of strengthening national efforts to combat the financing of terrorism and the proliferation of weapons, and in order to strengthen coordination between the structures concerned.

The protocol signed between the CMF and the CNLCT aims to establish technical and operational cooperation between the two bodies, as well as to strengthen coordination in the area of joint supervision and control. It will contribute to the effectiveness of the national system of targeted financial sanctions and to compliance with vigilance and control requirements in the fight against the financing of terrorism and the proliferation of weapons, in accordance with international standards and the recommendations of the Financial Action Task Force (FATF), said the CMF in a statement published on Friday. The signing of this protocol is part of the CMF's commitment to actively participate in strengthening the regulatory and operational framework in these areas, in particular in preparation for the future mutual evaluation process

This initiative is part of the implementation of recommendations 1 and 7 of the Financial Action Task Force for the Middle East and North Africa (MENAFATF).