Paris: The Gulf Cooperation Council (GCC) hailed the selection of world expert Dr. Waleed Al-Housani, Head of the GCC Economic Affairs Sector, by the Financial Action Task Force (FATF) as the first Arab and Gulf International Assessor in the fifth round of country evaluations for anti-money laundering and counter-terrorist financing systems.
According to Kuwait News Agency, GCC Secretary-General Jasem Al-Budaiwi emphasized that this selection marks a significant Gulf and international achievement in combating money laundering and terrorist financing. He affirmed that this milestone reflects the distinguished standing and confidence that Gulf competencies have attained within the international community, through their capabilities in the fields of evaluation and compliance with international standards.
He added that this achievement comes as GCC countries prepare to undergo the fifth round of mutual evaluations, underscoring their readiness and commitment to safeguarding the integrity of the global financial system in line with best practices and international requirements to combat money laundering and terrorist financing.
Dr. Al-Housani joined a team of six international assessors, with the evaluation process spanning 18 months and including field visits and interviews with relevant authorities in one of the FATF member states. This process culminated in the preparation of the final report, which was discussed and approved during the General Meeting of FATF, held in the French capital, Paris.