Al-Kabeer working with US official on mechanisms to combat money-laundering

Governor of Libya's Central Bank met with the US Assistant Secretary of Treasury to discuss ways to combat money laundering and ending terrorist funding

Last year Libya was removed from the EU’s blacklist of nations threatened by massive money laundering. [Photo: Archive]
Sadiq Al-Kabeer, Governor of the Central Bank of Libya (CBL), was joined by the Assistant Secretary of Treasury as he investigated systems to combat money laundering and terrorist financing.

The participants discussed the procedures for probing alleged corruption and money laundering at the meeting at the bank’s headquarters in Tripoli.

Libya was removed off the European Commission’s blacklist of nations threatened by money laundering in May 2020, after it had been added to the list in 2019, along with a number of other countries.

Local regulators submit suggestions to the Governor of the CBL on a regular basis.

The Chairman of the National Commission Against Money Laundering and Terrorist Financing emphasized the importance of reducing corruption and closely monitoring any suspicions of money laundering.

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