The law punishing terrorist financing and money laundering, adopted last February, will soon be applied in Mauritania, according to Justice Minister Haimoud Ramdan, after a decree was approved to this effect by the cabinet in Nouakchott on Thursday.
By Mohamed Moctar
According to the Keeper of the Seals, his country has ratified a number of international conventions, some of which deal with the fight against money laundering and terrorist financing.
With regard to the new decree adopted by the cabinet, he stressed that it contains important innovations, particularly with regard to clarifying the obligations of financial institutions and designated non-financial businesses and professions in the management of money transfer risks.
Ramdan also reported that the government had approved another decree on the functioning, composition, organization and role of the institutions responsible for implementing the law.
These institutions include the National Committee to Combat Money Laundering and Terrorist Financing and the Financial Investigations Unit.
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