Arab Bank Group Regulatory Compliance (GRC) hosts Anti-Money Laundering (AML) workshop

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Thirty-five Arab Bank Compliance Managers representing 22 countries, spanning 5 continents were in attendance throughout the duration of the four day event.

The first day of the session, addressed to an audience of more than 60 Arab Bank Compliance Managers and GRC Head Office staff, conducted by an internationally acclaimed AML instructor, was dedicated to advanced AML investigations training; additional intensive hands-on investigations training was conducted separately for Arab Bank AML Office staff.

The following three days of the summit were characterized by recognized industry leading guest speakers who shared information regarding relevant compliance topics and developments, local experts who presented regional advances and challenges, as well as working sessions and discussions regarding current Arab Bank compliance matters designed to further enhance the Bank's enterprise regulatory compliance program.

Specific summit topics included an update on progress related to the implementation of the Bank's new AML monitoring system, a review of current key compliance initiatives, discussion regarding compliance monitoring, key risk indicators, and GRC operating procedures, as well as a session dedicated to Islamic banking.

In conclusion of the occasion, a dinner was held with Dr. Muhammad Baasiri, Secretary of the Special Investigation Commission for fighting money laundering in Lebanon, who delivered a keynote speech and shared his thoughts on anti money laundering and combating financing of terrorism developments in the MENA region, emphasizing the need for global cooperation.

The dinner was attended by Arab Bank Compliance Managers as well as a number of distinguished guests, including His Excellency Dr. Ummayah Toukan, Governor of the Central Bank, Dr. Bassam Saket, the Executive Chairman of Jordan Securities Commission and representatives from the Central Bank of Jordan, as well as members of the Arab Bank Board of Directors.

On behalf of Mr. Abdel Hamid Shoman, Arab Bank Chairman and CEO, Ms. Dina Shoman, EVP and Head of Office of the CEO, shared his remarks stating that 'Arab Bank maintains a strong commitment towards ensuring the highest ethical standards across all of its operations. Our compliance managers have been and are expected to lead by example, exercise best judgement and ensure compliance with governing laws and regulations.'

Mr. Michael Matossian, EVP and Global Head of Group Regulatory Compliance, acknowledged GRC's accomplishments and the importance of continued compliance development and positive change. Mr. Matossian commented, 'Compliance is essential to attaining customer driven excellence, focusing on results, and creating value.'