Course on banking and money laundering [Archives:2005/813/Local News]

February 3 2005

Yasser Mohammed Al-Mayyasi
A training course on combating money laundering, using electronic banking processes, and investment funds was held on Jan. 30 at the Central Bank of Yemen (CBY).

Around 120 participants from different banking sectors, financial institutions, exchange and insurance companies attended the courses, which were organized by the CBY and the Arab Investment Company.

The course concentrated on money laundering considering it one of the biggest issues threatening some international trade and exchange companies. Money laundering has a significant negative influence on the economic activity in the Arab World.

A comprehensive study on money laundering, based on several reports from reputed international institutions such as the International Monetary Fund and the Economic Cooperative Organization, was also reviewed during the course.