MUSCAT — The authority said the legislative framework establishes procedures and mechanisms aimed at detecting suspicious and illicit activities while ensuring that financial institutions apply the highest standards of oversight and regulatory compliance.
According to the FSA, continuous monitoring is not merely an operational practice but an essential component of the regulatory system supporting the integrity and stability of the financial services sector.
The authority noted that the legislative frameworks governing anti-money laundering and counter-terrorism financing measures contribute to enhancing transparency, strengthening risk management practices, and supporting confidence in Oman’s financial services industry.
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