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Tanzania: BoT Calls for Curbing Money Laundering, Financing Terrorism

06.09.2017

 | Source:  The Citizen; All Africa

The Bank of Tanzania (BoT) has called on financial institutions to ensure that they address issues related to money laundering and financing terrorism.

The call was made on Tuesday Sept 5, by BoT director, Mr Kennedy Nyoni, in his keynote address at the launch of the Swift East Africa Business Forum.

The forum, organised by Swift, a global member-owned cooperative and the world leading provider of secure financial messaging services, brought together senior bankers, policy makers and representatives from the region's corporate community to discuss economic trends, financial policy and opportunities for growth.

"East Africa like other regions is exposed to money laundering and financing terrorism. It is important for all financial sector stakeholders to work together with Swift to curb the problem," noted Mr Nyoni.

He said BoT would continue to take regulatory and other initiatives aimed at strengthening anti-money laundering and terrorism financing framework and its related enforcement measures.

Mr Nyoni also promised that BoT would continue to collaborate with other law enforcement agencies in East Africa Community (EAC) to promote safety and soundness of financial services.

Source: All Africa