Sierra Leone’s President, His Excellency President Julius Maada Bio has formally opened the twenty ninth Ministerial Committee Assembly of the Inter-Governmental Motion Group In opposition to Cash Laundering in West Africa (GIABA) on the New Brookfields Lodge, Freetown. GIABA, a specialised ECOWAS establishment, coordinates efforts to fight cash laundering, terrorist financing, and proliferation financing (ML/TF/PF) throughout West Africa.
In his opening remarks, the Director Normal of GIABA, Mr. Edwin W. Harris Jr., expressed gratitude to President Bio for gracing the convention along with his presence. He highlighted the publication of a regional report, which underscores the necessity for intensified efforts to handle monetary crimes in West Africa.
“Whereas progress has been made, our area should double its efforts. This assembly is a name to motion, not simply speak,” Mr. Harris stated. He recommended GIABA’s coaching packages, which have supported six member states in combating cash laundering and terrorist financing. Emphasizing the necessity for stronger dedication from member states, he famous: “As Director Normal, I’ve rebranded and reformed GIABA, elevating its standing and recognition. Now, we should act decisively to translate our plans into measurable outcomes.” He concluded.
The President of the Monetary Motion Activity Pressure (FATF), Ms. Elisa de Anda Madrazo, lauded GIABA’s efforts and pledged her group’s continued help. “The battle in opposition to cash laundering is a worldwide problem,” she said. “We’re dedicated to strengthening capability constructing, monetary inclusion, and collaboration throughout the ECOWAS area to realize significant outcomes.”
She reiterated FATF’s readiness to work carefully with GIABA and urged ministers to implement the suggestions of the report being deliberated. “Collectively, we are able to foster a sturdy international community of cooperation,” she concluded.
Welcoming the delegation, Minister of Finance, Mr. Sheku Ahmed Fantamadi Bangura, underscored the political help offered by President Bio to the Monetary Intelligence Unit (FIU). He highlighted Sierra Leone’s legislative developments in combating monetary crimes and careworn the significance of collective dialogue to implement GIABA’s suggestions. “By means of collaboration on the inter-ministerial degree, we are able to create a safe monetary ecosystem and successfully handle cash laundering and terrorist financing,” he said.
In his keynote handle, His Excellency, President Bio welcomed the delegates and reaffirmed Sierra Leone’s dedication to combating cash laundering, terrorist financing, and proliferation financing. “We stand at a important juncture in our collective battle in opposition to transnational monetary crimes,” he stated, emphasizing the significance of translating technical suggestions into actionable nationwide and regional methods.
President Bio outlined Sierra Leone’s progress in aligning nationwide AML/CFT/CPF legal guidelines with worldwide requirements, enhancing capability constructing, and fostering regional cooperation. He highlighted ongoing investments in coaching, expertise, and intelligence sharing to strengthen businesses tasked with combating monetary crimes.
“Our method should adapt to rising threats, such because the misuse of latest applied sciences for illicit functions,” he famous. “Joint investigations and coordinated enforcement actions are important to dismantling transnational felony networks.”
The President pointed to Sierra Leone’s achievements, together with international recognition from the United Nations and FATF for top requirements in AML/CFT efficiency. He additionally highlighted Sierra Leone’s management throughout its tenure on the United Nations Safety Council, the place the nation championed initiatives to fight illicit monetary flows.
Closing his handle, the President referred to as for renewed dedication to useful resource allocation, strategic planning, and accountability. “The success of GIABA is tied to the political will of every member state. Regional collaboration and intelligence sharing are indispensable to reaching our targets,” he asserted. He urged delegates to depart the convention with a renewed sense of function and a sturdy motion plan. “Allow us to not lose sight of the mutual advantages of our efforts to boost regional safety, unlock sustainable financial growth, and foster international stability,” he concluded.
Distributed by APO Group on behalf of State Home Sierra Leone.