The
Inter-Governmental Action Group against Money Laundering in West Africa (GIABA)
has opened a “Regional Stakeholders Forum on Emerging Global AML/CFT Issues and
Implications for GIABA Member States”.
The
Regional Stakeholder Forum, which runs from Tuesday 16th to Thursday 18th
August 2016 in Saly, Senegal was organised to inform and enlighten all
stakeholders on the global emerging trends in Anti-Money Laundering and
Combating the Financing of Terrorism, with specific aim of understanding the
implications for GIABA member States.
The
Forum also sought to enlist the support and commitment of all stakeholders in
the pursuit of GIABA’s mandate and rid the region of trans-national organized
crimes.
Declaring
the forum open, President of the ECOWAS Commission, H.E. Marcel Alain De Souza
reiterated the commitment of the ECOWAS Community to peace and security in the
region through a holistic approach.
According
to the President, it was important for ECOWAS to improve the multifaceted and
strategic approaches and processes required to ensure the desired results in
areas of regional peace and security.
He
identified key areas of attention to include: adequately resourcing the
Financial Intelligence Units (FIUs) of member States; the need for judiciary of
member States to be more active and timely in the adjudication of relevant
cases before them; and that Civil Society Organizations (CSOs), the media,
youths and women groups among others should be involved in advocating peace and
security in the region.
The
President further recalled his promise on assumption of office as the President
of ECOWAS to strengthen the region, engender reforms and build the credibility
of the Institutions.
He
assured the gathering of his commitment to these tasks. He also emphasized the
importance of peace and security, stating that without the two, no economic
development can take place in the region.
Also
speaking at the Forum, the Director General of GIABA, Mr. Adama Coulibaly
highlighted the importance of comprehensive stakeholder engagement in AML/CFT
issues in West Africa, with specific attention on Terrorist Financing to
address the concerns of growing terrorism in the region.
The
DG emphasized that the need for peace in the region cannot be overemphasized,
and he therefore brought to light the high-level advocacy missions embarked
upon by GIABA leadership to mobilize authorities at the highest level in member
States.
He
noted that such high-level advocacy missions are meant to ensure adequate
compliance to global AML/CFT standards and avoid heavy international sanctions
that may result from non-compliance.
He
also called for the need to carry every stakeholder along in the preparation
for the 2nd Round of Mutual Evaluation exercises of GIABA member States.
He
concluded by calling on all stakeholders to expand support and commitment to
GIABA and its work to build a peaceful and prosperous region.
In
their goodwill messages, the Speaker of the ECOWAS Parliament, H.E. Moustapha
Cisse Lo and the President of ECOWAS Community Court of Justice, Hon. Justice
Jerome Traore both expressed their solidarity to GIABA and promised support for
GIABA in their individual capacities.
Particularly,
the Speaker highlighted the specific role of Parliament in legislation at
various member States and pledge commitment to work with GIABA to rid the
region of these deleterious crimes.
The
Dean of the ECOWAS ambassadors accredited to Senegal also expressed the
commitment of the Diplomatic Corps to activities of GIABA and the fight against
Money Laundering and Terrorist Financing.
GIABA
is a specialised agency of the ECOWAS, charged with the mandate to protect the
economies of West African countries from money laundering and to ensure the
peace and security of the region through activities aimed at combating
terrorist financing and financing of proliferation of small and light weapons. 
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