News

Undersecretary of the Foreign Ministry for Diplomatic Affairs met the US Under Secretary of the Treasury for Terrorism and Financial Intelligence

29/01/2023

Shaikh Khalifa Ali al Harthy, Undersecretary of the Foreign Ministry for Diplomatic Affairs met on 29th January 2023 Brian Nelson, US Under Secretary of the Treasury for Terrorism and Financial Intelligence. The meeting discussed areas of cooperation between the two countries and underlined the two sides’ keenness to continue promoting them in various fields.

The National Counter-Terrorism Committee Sings Cooperation Programs with a Number of Ministries and Authorities

15/01/2023

On 15th January 2023, the National Counter-Terrorism Committee (NCTC) signed cooperation programs with the Ministry of Justice and Legal Affairs, the Ministry of Commerce, Industry and Investment Promotion, the Ministry of Housing and Urban Planning, the Central Bank of Oman and the Capital Market Authority in the field of countering terrorist financing and WMD proliferation financing.

The National Center for Financial Information (NCFI) signed a memorandum of understanding with the Directorate of Financial Intelligence Directorate of the Ministry of Interior in the brotherly Kingdom of Bahrain

09/01/2023

On Wednesday 4 January 2023, the National Center for Financial Information (NCFI) signed a memorandum of understanding with the Directorate of Financial Intelligence Directorate of the Ministry of Interior in the brotherly Kingdom of Bahrain in the field of information exchange related to money laundering, associated predicate offenses and terrorism financing.

The National Committee for Combatting Money Laundering and Terrorism Financing and the National Counter-Terrorism Committee approved substantive risk-assessment reports

02/01/2023

In coordination with the National Counter-Terrorism Committee (NCTC), the National Committee for Combatting Money Laundering and Terrorism Financing approved, on 29th December 2022, a number of substantive risk-assessment reports on the crimes of money laundering, financing of terrorism and proliferation of weapons of mass destruction. The approved reports are a culmination of effective coordination between all relevant AML/ CFT entities and a clear realization of the national strategies, aimed at improving the prevention and control systems in the Sultanate of Oman and in consistent with the developments at the local and regional levels. It is note-worthy that the approved reports are meant to identify, assess and understand the risks resulted from the crimes of money laundering, financing of terrorism and financing proliferation of weapons of mass destruction. This is in addition to understanding the risks that might be faced by the legal entities and arrangements, and service offices in Oman. It is further to be noted that the two national committees aim to utilize the assessments in order to update and develop the national strategies and action plans for combating such crimes. The outcome of these assessments would effectively contribute to the allocation of the available risk management resources, reinforcement of the capabilities of national authorities, including the pre-emptive measures and operational procedures. Besides, the outcome would also enhance the capabilities of the relevant authorities, expand the scope of their legal framework, capability and preparedness to keep pace with latest local, regional, and international developments related to combatting these crimes in compliance with the international requirements issued by the Financial Action Task Force (FATF).

The National Counter-Terrorism Committee issued a decision to establish "Targeted Financial Sanctions Committee"

28/12/2022

On 27th December 2022, the National Counter-Terrorism Committee issued a decision to establish "Targeted Financial Sanctions Committee" (TFS) under the National Committee. The TFS Committee is tasked with taking decisions on listing persons and entities involved in terrorism in the Local List in accordance with the NCTC decision No. (1/2022) on issuing procedures for the implementation of Security Council Resolutions issued under Chapter VII of the United Nations Charter on the prevention and suppression of terrorism and its financing, and the prevention, suppression and disruption of WMD proliferation and its financing.

The Capital Market Authority has created a new department called Combating Money Laundering and Terrorism Financing Department

28/12/2022

The Capital Market Authority has created a new department called Combating Money Laundering and Terrorism Financing Department; the regulatory body concerned with ensuring the provision of a safe investment climate for institutions in the capital market and insurance sectors, as well as protecting the rights of investors and insurance policyholders. This comes as a continuation of the joint efforts between the government entities and units facing the phenomenon of money laundering and terrorism financing.

The Ministry of Housing and Urban Planning issued the Ministerial Decision No. (244/2022)

25/12/2022

The Ministry of Housing and Urban Planning issued the Ministerial Decision No. (244/2022) on the regulations of the audit of real-estate brokerage offices and companies and real-estate developers regarding Combatting Money Laundering and Terrorism Financing.

The Ministry of Commerce, Industry & Investment Promotion issued the Ministerial Decision No. (621/2022)

22/12/2022

The Ministry of Commerce, Industry & Investment Promotion issued the Ministerial Decision No. (621/2022) on the regulations of the audit of Accounting and Auditing offices and companies, and precious metals and valuable gemstones establishments and companies regarding Combatting Money Laundering and Terrorism Financing.

The National Counter-Terrorism Committee issued the regulations on the procedures for implementing the Security Council resolutions

22/12/2022

The National Counter-Terrorism Committee issued on 22nd December 2022 the regulations on the procedures for implementing the Security Council resolutions on the prevention of terrorism and its financing and on the prevention, suppression and disruption of the proliferation of weapons of mass destruction and its financing.