Bahrain beats Arab nations for top spot on Basel AML Index

By Rahul Vaimal, Associate Editor
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Bahrain Seven Seasons
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Bahrain’s Interior Minister and Head of Counter-Extremism, Money Laundering and Terrorism Committee, General Shaikh Rashid bin Abdullah Al Khalifa applauded the country’s efforts which secured it the top spot on the Basel AML Index in the Arab region. 

Switzerland-based Basel Institute on Governance publishes its independent ranking Basel AML Index annually which assesses the risk of money laundering and terrorist financing (ML/TF) around the world.

The minister remarked that achievement as a new success in the accomplishment record of the nation which has already topped many indexes of regional and international organizations, because of its distinguished potential and strong foundations in many fields.

Mr. Khalifa remarked this honor as a result of a comprehensive effort by the members of Team Bahrain and their ongoing work towards reinforcing the position of the Kingdom at all levels. The Minister of Interior highlighted the distinguished legislative infrastructure of Bahrain that is based on the best financial and economic practices.

He stressed that the dedication of the government led by His Royal Highness Prince Khalifa bin Salman Al Khalifa, the Prime Minister and follow up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister for the best interest of the nation and citizens.

The minister also praised the role of concerned ministries and authorities, including the Ministry of Finance and National Economy, Central Bank of Bahrain and MOI directorates while cheering the contributions of financial organizations in backing the national money laundering and terrorism financing fighting efforts.

The Interior Minister said that the Kingdom is dedicated to promoting its efforts through its membership in Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF). He asserted that Bahrain would continue to meet counter money laundering and terrorism financing goals.