Muscat – During the recent meeting held in Paris from October 21 to 25, the FATF commended Oman for the positive steps and initiatives taken to strengthen its AML and CTF frameworks over recent years. The group acknowledged the technical commitment displayed by Omani authorities in aligning their legislation and procedures with international standards established by the FATF.

Key areas of praise included Oman’s effective use of financial information for investigations, its international cooperation on legal and judicial assistance, and its efforts to combat and prosecute terrorism financing crimes. The FATF also recognised the implementation of targeted financial sanctions aimed at preventing the proliferation of weapons of mass destruction.

In a speech delivered on the occasion, H.E. Tahir bin Salem Al Amri, Executive President of the Central Bank of Oman and Chairman of the National Committee for Combating Money Laundering and Terrorism Financing, emphasized the high-level attention given by Oman to these issues. He noted the transition of the anti-money laundering and counter-terrorism financing system from a task-oriented framework to a risk-based approach, drawing on findings from national risk assessments conducted in 2018 and 2023.
Al Amri pointed out that Oman is committed to enhancing its system for combating money laundering and terrorist financing in line with updates to international standards. He noted that the national strategies and action plans are designed to enable the country to uncover, prosecute, and confiscate the assets of those involved in these crimes.

The mutual evaluation process is a collaborative effort between the FATF and the Middle East and North Africa Financial Action Task Force (MENAFATF). The findings from this evaluation will be discussed and finalized at the MENAFATF general meeting scheduled for mid-November, with a final report expected to be published in early December.
This recognition by the FATF underscores Oman’s dedication to protecting the global financial system from exploitation by criminal activities.