Senate President Faisal Al-Fayez said Jordan has taken advanced, internationally recognised steps to combat money laundering and terrorist financing, steps that have stabilised the Kingdom's financial system and strengthened its investment climate.
اضافة اعلان
Al-Fayez made the remarks Sunday during a meeting at the Senate with a delegation from the Middle East and North Africa Financial Action Task Force (MENAFATF).
Jordan's efforts are not merely domestic measures, Al-Fayez said, but an active partnership with the international system to ensure the Kingdom meets the highest global compliance standards. He described the work as part of a national strategy to strengthen economic security, protect the financial system and support regional and international stability.
Money laundering and terrorist financing pose a transnational threat to stability and development, Al-Fayez said, adding that Jordan has built a comprehensive system aligned with international law and deepened coordination with Arab and international bodies to manage the risk.
Al-Fayez pointed to the Senate's approval of the Anti-Money Laundering and Counter-Terrorist Financing Law, which requires financial institutions and public and private sector entities to report suspicious transactions.
The law also led to the creation of the National Committee for Combating Money Laundering and Terrorist Financing, which oversees policy, strategy and enforcement in this area, including efforts against the financing of weapons of mass destruction.
"Jordan's efforts in combating money laundering and terrorist financing bore fruit in 2023 with the removal of Jordan from the grey list," Al-Fayez said, calling it recognition by international bodies of the effectiveness of Jordanian legislation and enforcement. FATF confirmed Jordan's removal from its list of jurisdictions under increased monitoring on October 27, 2023, following a two-year corrective action plan.
Jordan has tightened oversight of banks, exchange companies, money transfer operators and electronic payment providers, Al-Fayez said, and requires full disclosure of the source of funds and cross-border transfers. He acknowledged that evolving methods of financial crime demand continuous modernisation of enforcement capacity.
Safeguarding the Kingdom's financial system and international reputation is an ongoing priority, Al-Fayez said, describing financial security as inseparable from Jordan's broader national security.
The Senate has approved all legislation related to combating money laundering and terrorist financing and monitors compliance by relevant authorities with the law and with international agreements Jordan has signed in this field, Al-Fayez added.
The visiting delegation commended Jordan's legal and institutional measures, crediting them with the Kingdom's removal from the grey list, and pledged continued cooperation and support as Jordan confronts financial crime risks linked to advancing technology.
Source: Al-Ghad
