BisB arranges special awareness sessions on anti money laundering

The Bank's Assistant General Manager of Human Resources & Services, Abdul Aziz Ashoor has said: "These special sessions demonstrate the Bank's firmed belief in the importance of anti money laundering and the consequences of such operations in terms of Islamic Sharia'a, and the Bank's proactive processes to eliminate any such incidents."

"These sessions are intended to emphasize the Bank's prudence towards such operations and its insistence on keeping the Bank's staff in particular and stakeholders in general away from any insecure or suspected transactions," he added.

Mr. Ashoor explained that the contents of the sessions included detailed presentations on money laundering, the due diligence required to quickly discover such operations and how to understand your customers and business partners and their sources of income. The sessions also covered reporting of suspected dealings and how laundered money is used in financing various terrorist activities.

He continued: "It is recognized worldwide that banks must take every possible action to prevent and report such activities. Our Bank's staffs are well trained on how to handle suspects and on how to subject financial systems to the Islamic Sharia'a rules and regulations."

Mr. Abdul Aziz Ashoor the Bank's Assistant General Manager of Human Resources & Services concluded "In Bahrain, we are fully aware of the illegal processes taking place worldwide. Under the policy of the Central Bank of Bahrain (CBB), all banks are required to provide training on anti money laundering to all their staff members."

The training sessions which were attended by a large number of the Bank's staff, including top and middle management, were facilitated by Mr. Hussam Al Abed, Consultant of Anti Money Crimes and Anti Money Laundering, at Jordan's Banking Association. He is also a prominent member of the Advisory Board of the Association of Certified Anti Money Laundering Specialists (ACAMS).