The Studies and Economic Center urged on Saturday Parliament to quickly pass the anti-money laundering and terrorist financing legislation that was sent to it in November 2007.
In a letter to Speaker of Parliament, the center said the legislation delay will expose Yemen to punishable measures and a sever rebuke, after it was given a deadline by the Middle East and North Africa Financial Action Task Force until April 2010 to approve it.
The delay may also have effects on the national economy, triggering a decline in grants, in addition to losing the trust in the financial sector and then further chains would imposed on it, the center said.
The letter also urged to activate the Anti-Money Laundering and Terrorist Financing Unit at the Yemeni Central Bank and other banks and exchange firms as well as continuous training for employees at the unit to introduce them to the newest approaches to combat money laundering and terrorist financing.
A report by the task force earlier noted that Yemen had not met its commitment towards combating money laundering and terrorist financing, pointing to the partly action in this regard amid the inactive Anti-Money Laundering and Terrorist Financing Unit at the YCB.
For its part, the center said the law 35-2003 was vague and short of tackling all developed financial crimes in the globalization time. The law did not also contain criminalizing terrorist financing, it added.
Meanwhile, Yemen has only revealed 11 suspected money laundering cases, one of which was turned over to the judiciary, according to information obtained by the center.
It is worth to mention that Yemen is one of the founding states of the Middle East and North Africa Financial Action Task Force and is in charge of evaluating the commitment of countries towards fighting money laundering and terrorist financing.
Source: Saba
Tampilkan postingan dengan label Yemen. Tampilkan semua postingan
Tampilkan postingan dengan label Yemen. Tampilkan semua postingan
Kamis, 28 Juni 2012
Jumat, 22 Juni 2012
Yemen: Workshop on money laundering and terrorist financing kicks off
The Governor of the Central Bank of Yemen Mohammed Bin Hammam said on Saturday that Yemen is making significant efforts to improve the systems of Anti-money Laundering and Combating of Terrorism Financing.
The three-day workshop is organized by the National Committee to combat money laundering and terrorism financing in cooperation with the U.S. embassy in Sana'a.
He pointed out that greater efforts are required to apply regulations and procedures regarding combating money laundering and terrorist financing and develop mechanisms of cooperation with law enforcement authorities.
Source: Saba
Rabu, 06 Juni 2012
US to Significantly Increase Assistance to Yemen
Attaching importance to Yemen's role in the U.S. counterterrorism strategy, the Obama administration has considered a 63-million-dollar assistance to the country, said the State Department on Monday.
"In fiscal year 2010, the president asked for a significant increase in foreign assistance to Yemen," State Department spokesman Ian Kelly told reporters, adding that the administration expects the assistance to be as much as 63 million dollars.
"This amount represents a 56-percent increase over fiscal year 2009 and a 225-percent increase over fiscal year 2008 levels," Kelly added.
According to the spokesman, the development and security assistance does not include 1206 counterterrorism funds, via which the Yemeni government has been authorized 67 million dollars in equipment assistance to support its counterterrorist and border control forces.
Moreover, the United States has been providing anti-terrorism assistance training in Yemen since 1998 through diplomatic security, and has been providing training to develop the government of Yemen's capability to counter terrorist financing.
"We're very concerned about the emergence of al-Qaeda in Yemen, " said Kelly.
"That's why we're increasing our efforts to help the government of Yemen deal with the terrorist threat, to help enhance their border and customs procedures, and why we're increasing our training and also looking into increasing these so-called 1206 funds to help them with their counterterrorist efforts," he added.
Yemen, a vital battlefield in the U.S.-led war against al-Qaeda, is viewed as a weak country without powerful central government control. Under U.S. assistance, the Yemeni government recently has taken more offensive operations against al-Qaeda targets.
Last month, Yemeni officials said raids against al-Qaida in the Arabian Peninsula (AQAP) hideouts in the southern province of Abyan and Arhab district, to the northeast of Sanaa, left some 60 militants killed and dozens others arrested.
The AQAP, which said the deadly strikes were conducted by the United States, has claimed responsibility for a foiled Christmas Day attempt to bomb a U.S. aircraft.
Source: CRI
"In fiscal year 2010, the president asked for a significant increase in foreign assistance to Yemen," State Department spokesman Ian Kelly told reporters, adding that the administration expects the assistance to be as much as 63 million dollars.
"This amount represents a 56-percent increase over fiscal year 2009 and a 225-percent increase over fiscal year 2008 levels," Kelly added.
According to the spokesman, the development and security assistance does not include 1206 counterterrorism funds, via which the Yemeni government has been authorized 67 million dollars in equipment assistance to support its counterterrorist and border control forces.
Moreover, the United States has been providing anti-terrorism assistance training in Yemen since 1998 through diplomatic security, and has been providing training to develop the government of Yemen's capability to counter terrorist financing.
"We're very concerned about the emergence of al-Qaeda in Yemen, " said Kelly.
"That's why we're increasing our efforts to help the government of Yemen deal with the terrorist threat, to help enhance their border and customs procedures, and why we're increasing our training and also looking into increasing these so-called 1206 funds to help them with their counterterrorist efforts," he added.
Yemen, a vital battlefield in the U.S.-led war against al-Qaeda, is viewed as a weak country without powerful central government control. Under U.S. assistance, the Yemeni government recently has taken more offensive operations against al-Qaeda targets.
Last month, Yemeni officials said raids against al-Qaida in the Arabian Peninsula (AQAP) hideouts in the southern province of Abyan and Arhab district, to the northeast of Sanaa, left some 60 militants killed and dozens others arrested.
The AQAP, which said the deadly strikes were conducted by the United States, has claimed responsibility for a foiled Christmas Day attempt to bomb a U.S. aircraft.
Source: CRI
Kamis, 31 Mei 2012
FBI agents in town help fight cross-border crime
By Marie Magleby, Special to Gulf News
Published: May 31, 2008, 23:44
Abu Dhabi: Gary Price and Ernest Herbert carry FBI badges, but their job descriptions are significantly different here than in the US.
Instead, the duo are go-betweens for local and US law enforcement. He said, "We work closely with UAE government officials to share information that protects the two countries."
They also offer training at the request of local authorities. The training involves many aspects of law enforcement, including ways to combat white-collar crime, violent crime, forensics and counter-terrorism.
In addition, the agents coordinate the Middle East Law Enforcement Training Centre in Dubai, which offers week-long courses for law enforcement personnel from around the Gulf.
Local authorities choose the topics and dates, and FBI specialists come from the US to teach the courses. Since its establishment in 2001, the centre, co-sponsored by the FBI and Dubai police, has conducted about 40 courses dealing with money laundering, computer crimes, intellectual property rights, kidnapping, auto theft, homicide, financial institution fraud, terrorist financing, hostage negotiations and more.
The globalisation of crime, especially financial and internet crime, places the agents in a pivotal position. "The UAE is an important crossroads for business and, as a result, also for crime," Price said of the potential for fraud or abuse in the banking system. With the help of local officials, they routinely seek to investigate bank records and track financial transactions linked to the US.
When internet crime is traced back to the US, the agents are also able to help. Just months ago, a prominent UAE citizen received a cyber threat from a location in the US.
Local law enforcement officials contacted Price and Herbert, who enlisted agents in the US to conduct an investigation. The man was arrested, charged and is now facing imprisonment.
About working with local authorities, Price said: "I truly enjoy working with the Emiratis. They are professional and very gracious." There are, however, obstacles. According to Price, a federal law that regulates "international judicial cooperation" is often misinterpreted to be a roadblock to investigations. "There is not a timely, quick way for law enforcement response because of the bureaucratic process," he said.
Law enforcement mechanisms do not always translate across cultures and borders, Herbert said in a similar vein. "Things are run differently here than in the US, so we have to do things differently."
When FBI agents are on international assignment, they assume the title of Legal Attaché in their respective embassies. Price and Herbert are successors to three other agents since the Abu Dhabi office opened in December 2003. They cover both the UAE and Oman. In the region, the FBI also has agents posted in Afghanistan, Egypt, Iraq, Israel, Jordan, Kuwait, Lebanon, Pakistan, Saudi Arabia and Yemen.
During his tenure, former FBI director Louis Freeh pushed to expand the bureau's international presence. It now has offices in 62 countries. This worldwide network of agents is a necessary countermeasure against the growing nexus of international crime. "Just as there are no borders for crime and terrorism, there can be no borders for justice and the rule of law," current director Robert Mueller told the US Senate in March.
Progress
"Twenty years ago, the idea of regularly communicating with our law enforcement counterparts around the world was as foreign as the internet or the mobile phone. Today, advances in technology, travel and communication have broken down walls between countries, continents and individuals," Mueller added. Price and Herbert embody this prog-ress.
Mueller became the dir-ector one week prior to the September 11, 2001 attacks.
The FBI began as a special agent force in 1908 and received its current title in 1935. Since its genesis, the FBI has seen its share of success and failure. Though it has successfully foiled numerous plots, conspiracies and espionage attempts, it has been criticised for shoddy investigation tactics and ignoring intelligence reports that could have prevented past attacks. Regardless, it has survived a century of challenges.
- The writer is a journalist based in Abu Dhabi.
Source: GulfNews
Sabtu, 26 Mei 2012
Yemen Cabinet studies report on money laundering, funding terrorism
The cabinet studied in its meeting held on Tuesday report raised by finance minister and committee of controlling money laundering over results of Financial Working Group in the Middle East and North Africa and Yemen's efforts in this field.
On this regard, the cabinet approved continuous work of the Supreme Observatory Committee headed by governor of the central bank to follow up carrying out work plan for enhancing measures curing faults and issuing law for combating money laundering as well as ratifying Yemen's joining to the UN treaty against terrorism funding.
The cabinet stressed on concerned authorities deal with money laundering and funding terrorism issues to complete measures and faults the plan on this regard requires.
The cabinet also approved report of financial minister over results of liquidation of the General Corporation for Foreign Trade and Grains and approved dissolving works till 30-6-2008.
Source: Saba News
On this regard, the cabinet approved continuous work of the Supreme Observatory Committee headed by governor of the central bank to follow up carrying out work plan for enhancing measures curing faults and issuing law for combating money laundering as well as ratifying Yemen's joining to the UN treaty against terrorism funding.
The cabinet stressed on concerned authorities deal with money laundering and funding terrorism issues to complete measures and faults the plan on this regard requires.
The cabinet also approved report of financial minister over results of liquidation of the General Corporation for Foreign Trade and Grains and approved dissolving works till 30-6-2008.
Source: Saba News
Senin, 21 Mei 2012
U.S. Intelligence Chief Outlines Successes Against Terrorism
Michael Hayden, the director of the Central Intelligence Agency, spoke recently of the international community's successes against terrorism in key regions of the world and diminished worldwide support for al-Qaida.
Hayden told the Washington-based Atlantic Council of the United States November 13 that the United States - in cooperation with partners such as Iraq, Saudi Arabia, Indonesia and the Philippines - has greatly diminished the reach of several terrorist groups.
Al-Qaida in Iraq, for example, "is on the verge of strategic defeat," with the flow of money, weapons and foreign fighters into Iraq now "greatly diminished," Hayden said.
And al-Qaida's operational arm in Saudi Arabia largely has been defeated, he said. Indonesia has made inroads in detecting and disrupting terrorist plots in the past three years as a result of what he called "aggressive action by one of our most effective counterterrorism partners." Filipino allies have kept the pressure on the Abu-Sayef group, Hayden said, limiting its effectiveness.
While the remote, tribal areas on the Afghanistan-Pakistan border remain problematic, progress has been made, according to the CIA director. He said the practice of terrorists taking refuge in Pakistan's Federally Administered Tribal Areas is lessening. Due to cooperation among the Pakistan government, its military and the U.S. intelligence community, terrorist networks have lost many "decision makers, commanders, experienced and committed fighters" who, Hayden said, planned attacks against Europe and the United States.
The Pakistani government and military "deserves great credit for its current campaign against extremists," he added. More al-Qaida leaders have been killed or captured "in partnership with our Pakistani allies than ... with any other partner around the world," Hayden said.
The CIA official cited another reason for optimism in the fight against terrorism: "Some hard-line religious leaders are speaking out against al-Qaida's tactics and its ideology." Hayden cited generic polling showing declining support for al-Qaida and Osama bin Laden in predominantly Muslim countries.
More and more Muslims "are pushing back against the senseless violence and flawed worldview of al-Qaida," he said. Credible, authentic, influential Islamic voices are speaking out and "refuting al-Qaida's twisted justification for murdering innocents" as well as its ideology seeking to erase the distinction between combatants and noncombatants.
Besides Pakistan and Indonesia, Hayden praised the counterterrorism efforts of other U.S. partners such as Saudi Arabia and Iraq. Military and law enforcement activities and even efforts addressing the conflict of ideas have resulted in improvements in the Middle East and Southeast Asia, he said. "I have always said that the civilized world will win this fight when we win the war of ideas," he added.
NEXT STEPS
Efforts to defeat al-Qaida in the near future will continue to center on Yemen, Somalia and the Afghan-Pakistan border, according to Hayden. Intelligence suggests that some veterans of terror operations in Iraq are now drifting to other regions, such as North Africa and the Arabian Peninsula, in search of new action.
Even though al-Qaida has suffered serious setbacks in Iraq, Afghanistan and Pakistan, the intelligence-agency director said, "it remains a determined, adaptive enemy." Al-Qaida is still "the most dangerous threat we face," he told the Atlantic Council's Global Intelligence Forum.
In Hayden's opinion, al-Qaida's base of operations on Pakistan's border with Afghanistan remains "the single most important factor today in the group's resilience and its ability to threaten the West." He contends that the remote, tribal areas along the Afghan-Pakistan border have supported terrorist financing, recruiting, training and plotting in the past.
While al-Qaida-related operations in the tribal regions do not rise to the level of activity that once existed in Afghanistan, Hayden said, its recent efforts to destabilize Pakistan are worrisome.
The Pakistani army has been fighting extremists "forcefully and with considerable success since early August," Hayden said. The Pakistanis have a multibrigade operation under way in the tribal area of Bajaur, and while they have sustained losses, "they are also imposing significant casualties on our common enemy."
But when al-Qaida is dealt a blow, Hayden said, its senor leadership recalibrates. "They constantly look for ways to make up for losses, extend their reach, take advantage of opportunities, and we're seeing that ... in some places like ... Somalia or Yemen."
Yemen has witnessed an unprecedented number of attacks in 2008, Hayden said, including two against the U.S. Embassy. The sophistication of attacks and the range of targets are broadening. Hayden said that, like what has happened elsewhere, terrorist cells in Yemen "are operating from remote, tribal areas where the government has traditionally had very little authority."
That al-Qaida tends to gain strength only in isolated, ungoverned territories "may be the most damning thing we can say about this organization," Hayden said. It can subsist only beyond the reach of civilization and the reach of the rule of law.
HANDLING THE TRANSITION
As head of the CIA, Hayden's service may continue into the Obama administration, although frequently a new president appoints his own director. Asked about his interest in continuing in his present position - which includes conducting daily presidential intelligence briefings at the White House - the director said he serves at the pleasure of the president, but would consider staying if asked.
As this is the first wartime presidential transition for the United States in 40 years, some thought is being given by transition officials to keeping some Bush appointees, at least temporarily, so the transfer of power from one administration to another is as seamless as possible.
Hayden said members of the Bush administration have been directed to "make this the smoothest transition in recorded history." With the United States on a wartime footing and al-Qaida already having made a critical remark about President-elect Barack Obama on the Internet, the director said, efforts are under way to get a new team ready for any contingency as swiftly as possible "so that there is no diminution in the ability of the Republic to defend itself."
Video of the forum ( http://www.acus.org/event_blog/cia-director-event ) is available on the Atlantic Council Web site. A transcript of Hayden's remarks ( https://www.cia.gov/news-information/speeches-testimony/directors-remarks-at-the-atlantic-council.html ) is available on the CIA Web site.
For more information about U.S. policy, see Confronting Terrorism ( http://fpolicy.america.gov/fpolicy/security/counterterrorism.html) on America.gov.
Source: NewsBlaze
Hayden told the Washington-based Atlantic Council of the United States November 13 that the United States - in cooperation with partners such as Iraq, Saudi Arabia, Indonesia and the Philippines - has greatly diminished the reach of several terrorist groups.
Al-Qaida in Iraq, for example, "is on the verge of strategic defeat," with the flow of money, weapons and foreign fighters into Iraq now "greatly diminished," Hayden said.
And al-Qaida's operational arm in Saudi Arabia largely has been defeated, he said. Indonesia has made inroads in detecting and disrupting terrorist plots in the past three years as a result of what he called "aggressive action by one of our most effective counterterrorism partners." Filipino allies have kept the pressure on the Abu-Sayef group, Hayden said, limiting its effectiveness.
While the remote, tribal areas on the Afghanistan-Pakistan border remain problematic, progress has been made, according to the CIA director. He said the practice of terrorists taking refuge in Pakistan's Federally Administered Tribal Areas is lessening. Due to cooperation among the Pakistan government, its military and the U.S. intelligence community, terrorist networks have lost many "decision makers, commanders, experienced and committed fighters" who, Hayden said, planned attacks against Europe and the United States.
The Pakistani government and military "deserves great credit for its current campaign against extremists," he added. More al-Qaida leaders have been killed or captured "in partnership with our Pakistani allies than ... with any other partner around the world," Hayden said.
The CIA official cited another reason for optimism in the fight against terrorism: "Some hard-line religious leaders are speaking out against al-Qaida's tactics and its ideology." Hayden cited generic polling showing declining support for al-Qaida and Osama bin Laden in predominantly Muslim countries.
More and more Muslims "are pushing back against the senseless violence and flawed worldview of al-Qaida," he said. Credible, authentic, influential Islamic voices are speaking out and "refuting al-Qaida's twisted justification for murdering innocents" as well as its ideology seeking to erase the distinction between combatants and noncombatants.
Besides Pakistan and Indonesia, Hayden praised the counterterrorism efforts of other U.S. partners such as Saudi Arabia and Iraq. Military and law enforcement activities and even efforts addressing the conflict of ideas have resulted in improvements in the Middle East and Southeast Asia, he said. "I have always said that the civilized world will win this fight when we win the war of ideas," he added.
NEXT STEPS
Efforts to defeat al-Qaida in the near future will continue to center on Yemen, Somalia and the Afghan-Pakistan border, according to Hayden. Intelligence suggests that some veterans of terror operations in Iraq are now drifting to other regions, such as North Africa and the Arabian Peninsula, in search of new action.
Even though al-Qaida has suffered serious setbacks in Iraq, Afghanistan and Pakistan, the intelligence-agency director said, "it remains a determined, adaptive enemy." Al-Qaida is still "the most dangerous threat we face," he told the Atlantic Council's Global Intelligence Forum.
In Hayden's opinion, al-Qaida's base of operations on Pakistan's border with Afghanistan remains "the single most important factor today in the group's resilience and its ability to threaten the West." He contends that the remote, tribal areas along the Afghan-Pakistan border have supported terrorist financing, recruiting, training and plotting in the past.
While al-Qaida-related operations in the tribal regions do not rise to the level of activity that once existed in Afghanistan, Hayden said, its recent efforts to destabilize Pakistan are worrisome.
The Pakistani army has been fighting extremists "forcefully and with considerable success since early August," Hayden said. The Pakistanis have a multibrigade operation under way in the tribal area of Bajaur, and while they have sustained losses, "they are also imposing significant casualties on our common enemy."
But when al-Qaida is dealt a blow, Hayden said, its senor leadership recalibrates. "They constantly look for ways to make up for losses, extend their reach, take advantage of opportunities, and we're seeing that ... in some places like ... Somalia or Yemen."
Yemen has witnessed an unprecedented number of attacks in 2008, Hayden said, including two against the U.S. Embassy. The sophistication of attacks and the range of targets are broadening. Hayden said that, like what has happened elsewhere, terrorist cells in Yemen "are operating from remote, tribal areas where the government has traditionally had very little authority."
That al-Qaida tends to gain strength only in isolated, ungoverned territories "may be the most damning thing we can say about this organization," Hayden said. It can subsist only beyond the reach of civilization and the reach of the rule of law.
HANDLING THE TRANSITION
As head of the CIA, Hayden's service may continue into the Obama administration, although frequently a new president appoints his own director. Asked about his interest in continuing in his present position - which includes conducting daily presidential intelligence briefings at the White House - the director said he serves at the pleasure of the president, but would consider staying if asked.
As this is the first wartime presidential transition for the United States in 40 years, some thought is being given by transition officials to keeping some Bush appointees, at least temporarily, so the transfer of power from one administration to another is as seamless as possible.
Hayden said members of the Bush administration have been directed to "make this the smoothest transition in recorded history." With the United States on a wartime footing and al-Qaida already having made a critical remark about President-elect Barack Obama on the Internet, the director said, efforts are under way to get a new team ready for any contingency as swiftly as possible "so that there is no diminution in the ability of the Republic to defend itself."
Video of the forum ( http://www.acus.org/event_blog/cia-director-event ) is available on the Atlantic Council Web site. A transcript of Hayden's remarks ( https://www.cia.gov/news-information/speeches-testimony/directors-remarks-at-the-atlantic-council.html ) is available on the CIA Web site.
For more information about U.S. policy, see Confronting Terrorism ( http://fpolicy.america.gov/fpolicy/security/counterterrorism.html) on America.gov.
Source: NewsBlaze
Selasa, 15 Mei 2012
US workshop in Jordan builds support to battle money laundering
The U.S. government organized a workshop in Jordan to teach officials from the Arab countries how to detect and investigate the smuggling of money.
The U.S. has been working with Jordan and other Arab countries to ensure that banking institutions are subject to appropriate oversight and that they have effective programs in place to prevent money-laundering and terrorist financing.
Participants, including representatives from Jordan, Algeria, Egypt, Kuwait, Lebanon, Mauritania, Morocco, Oman, the Palestinian Authority, Qatar, Tunisia and Yemen, examined anti-money laundering standards used by the Financial Action Task Force, a Paris-based inter-government body set up in 1989 by the Group of Eight industrialized nations.
This week, U.S. federal prosecutors said two NY residents were indicted on charges of trying to smuggle $500,000 (euro323,000) from the U.S. to Jordan.
Authorities said a grand jury in Hartford, Connecticut returned an indictment charging 35-year-old Hassan Abuzaitoun and 33-year-old Mohammad Alazzam with conspiracy to commit money laundering and conspiracy to smuggle bulk cash from the United States. Both are naturalized U.S. citizens from Jordan residing in Yonkers, New York.
Jordanian authorities have often asserted that Jordan was free of money laundering because of its strict monetary regulations and practices.
In 2004, three different groups of families of suicide bombing victims in Israel filed suits in a Brooklyn, N.Y. federal court against Jordan's largest financial institution _ Arab Bank _ alleging that it moved donations from Saudi Arabia to militant Palestinian groups, including Hamas and Islamic Jihad.
The bank denied the allegation. It later decided to close down its New York branch saying it was pursuing its strategy to focus on operations in the Arab world and Europe.
http://www.amlosphere.com/america/legislation/us-workshop-in-jordan-builds-support-to-battle-money-laundering.html
The U.S. has been working with Jordan and other Arab countries to ensure that banking institutions are subject to appropriate oversight and that they have effective programs in place to prevent money-laundering and terrorist financing.
Participants, including representatives from Jordan, Algeria, Egypt, Kuwait, Lebanon, Mauritania, Morocco, Oman, the Palestinian Authority, Qatar, Tunisia and Yemen, examined anti-money laundering standards used by the Financial Action Task Force, a Paris-based inter-government body set up in 1989 by the Group of Eight industrialized nations.
This week, U.S. federal prosecutors said two NY residents were indicted on charges of trying to smuggle $500,000 (euro323,000) from the U.S. to Jordan.
Authorities said a grand jury in Hartford, Connecticut returned an indictment charging 35-year-old Hassan Abuzaitoun and 33-year-old Mohammad Alazzam with conspiracy to commit money laundering and conspiracy to smuggle bulk cash from the United States. Both are naturalized U.S. citizens from Jordan residing in Yonkers, New York.
Jordanian authorities have often asserted that Jordan was free of money laundering because of its strict monetary regulations and practices.
In 2004, three different groups of families of suicide bombing victims in Israel filed suits in a Brooklyn, N.Y. federal court against Jordan's largest financial institution _ Arab Bank _ alleging that it moved donations from Saudi Arabia to militant Palestinian groups, including Hamas and Islamic Jihad.
The bank denied the allegation. It later decided to close down its New York branch saying it was pursuing its strategy to focus on operations in the Arab world and Europe.
http://www.amlosphere.com/america/legislation/us-workshop-in-jordan-builds-support-to-battle-money-laundering.html
Yemen: Terrorist finance bill dead-locked in parliament
The Yemeni parliament is locked in a stand-off over a proposed new law that would crack down on money laundering and terrorist financing by merging the two crimes into one law.
A draft of the bill was introduced by Yemeni government to the parliament saying that the current laws of money laundering and financing terrorism are outdated and full of shortcomings dating back to 2003.
Opposition to the bill in the parliament contend that it would result in stifling charitable businesses and legal resistance by occupied Arab people. Members of parliament did, however, demand application of money laundering reform or amendments of the bill to be applied without merging the terrorism financing issue in the same bill.
“The existing legislation is sufficient,” said Member of Parliament, Sakher al-Wajeeh. “If the current law has deficiencies, it can be amended.”
The majority opposition in parliament says the proposed bill would restrict the work of charities and non-governmental organizations (NGO’s), causing more harm in fighting terrorism.
In Yemen, support of resistances in the Occupied Palestinian Territories are deemed to be legal ad justified actions, however most western states consider it to be terrorism, and the United Nations still cannot agree on a unified definition of terrorism. Al-Wajeeh suspects that the enemies of Islam link the religion with terrorism and claim by fighting Islam, they combat terroristic acts.
“There is no logical link of merging terrorism financing and money laundering because there is no unified definition of terrorism,” said Dr. Salah al-Sanabani, a member of parliament, adding, “the government should define terrorism according to our religion.”
According to the bill’s opposition, supporting this law to combat terrorism harms charitable and self-defense works by Islamic associations, especially resistance and charities in Palestine.
“Money laundering is still a problem in Yemen but has a very limited scope,” said Ahmed Ghalib, the head of the Committee for Combating Money Laundering and Funding Terrorism in Yemen. “Money laundering is possible due to loopholes and weaknesses in the banking system and from regulatory weaknesses. The line becomes blurred as illicit funds are recycled through legitimate business enterprises.”
The new law, according to supporters, aims to supplement the existing law from 2003. The old law did not include the rules of disclosure and dissemination found in the Council Security tracking and lists of terrorism financing crimes. The new law uses the definition terrorism from Arab Convention for Combating Terrorism ratified by the Yemeni Parliament.
By defining terrorism, supporters say that charitable funds can still make their way to causes supported by Yemenis without being accused of supporting it.
According to Ghalib, the new measures will introduce an element of conformity with international principles and standards. The bill was prepared by the Committee for Combating Money Laundering and Terrorism Funding in conjunction with the World Bank and the UN Office of Drugs and Crime, as well as consulting with representatives from the financial community. This was a recommendation by the Financial Action Task Force (FATF) and Arab and international conventions, as well as UN Security Council resolutions.
Mustafa Saif, head of the Money Laundering task force at the Central Bank of Yemen, said that the new draft law limits the amount of money that can be transferred from one bank account to another and international transfers. The law also calls for better monitoring of money transfers through corporations or other authorities. Previous laws did not include these measures.
The bill also says that any person who is found guilty of money laundering or financing terrorism may face imprisonment up to seven years and confiscation of the money to the public treasury.
At the end of the session, the parliament decided to form a committee to offer recommendations in terms of separating or merging financing terrorism with money laundering.
http://www.amlosphere.com/asia/legislation/terrorist-finance-bill-dead-locked-in-parliament.html
A draft of the bill was introduced by Yemeni government to the parliament saying that the current laws of money laundering and financing terrorism are outdated and full of shortcomings dating back to 2003.
Opposition to the bill in the parliament contend that it would result in stifling charitable businesses and legal resistance by occupied Arab people. Members of parliament did, however, demand application of money laundering reform or amendments of the bill to be applied without merging the terrorism financing issue in the same bill.
“The existing legislation is sufficient,” said Member of Parliament, Sakher al-Wajeeh. “If the current law has deficiencies, it can be amended.”
The majority opposition in parliament says the proposed bill would restrict the work of charities and non-governmental organizations (NGO’s), causing more harm in fighting terrorism.
In Yemen, support of resistances in the Occupied Palestinian Territories are deemed to be legal ad justified actions, however most western states consider it to be terrorism, and the United Nations still cannot agree on a unified definition of terrorism. Al-Wajeeh suspects that the enemies of Islam link the religion with terrorism and claim by fighting Islam, they combat terroristic acts.
“There is no logical link of merging terrorism financing and money laundering because there is no unified definition of terrorism,” said Dr. Salah al-Sanabani, a member of parliament, adding, “the government should define terrorism according to our religion.”
According to the bill’s opposition, supporting this law to combat terrorism harms charitable and self-defense works by Islamic associations, especially resistance and charities in Palestine.
“Money laundering is still a problem in Yemen but has a very limited scope,” said Ahmed Ghalib, the head of the Committee for Combating Money Laundering and Funding Terrorism in Yemen. “Money laundering is possible due to loopholes and weaknesses in the banking system and from regulatory weaknesses. The line becomes blurred as illicit funds are recycled through legitimate business enterprises.”
The new law, according to supporters, aims to supplement the existing law from 2003. The old law did not include the rules of disclosure and dissemination found in the Council Security tracking and lists of terrorism financing crimes. The new law uses the definition terrorism from Arab Convention for Combating Terrorism ratified by the Yemeni Parliament.
By defining terrorism, supporters say that charitable funds can still make their way to causes supported by Yemenis without being accused of supporting it.
According to Ghalib, the new measures will introduce an element of conformity with international principles and standards. The bill was prepared by the Committee for Combating Money Laundering and Terrorism Funding in conjunction with the World Bank and the UN Office of Drugs and Crime, as well as consulting with representatives from the financial community. This was a recommendation by the Financial Action Task Force (FATF) and Arab and international conventions, as well as UN Security Council resolutions.
Mustafa Saif, head of the Money Laundering task force at the Central Bank of Yemen, said that the new draft law limits the amount of money that can be transferred from one bank account to another and international transfers. The law also calls for better monitoring of money transfers through corporations or other authorities. Previous laws did not include these measures.
The bill also says that any person who is found guilty of money laundering or financing terrorism may face imprisonment up to seven years and confiscation of the money to the public treasury.
At the end of the session, the parliament decided to form a committee to offer recommendations in terms of separating or merging financing terrorism with money laundering.
http://www.amlosphere.com/asia/legislation/terrorist-finance-bill-dead-locked-in-parliament.html
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