Page 32 - NIBAF-Training Matters April-June 2021
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targeted to enhance the business and their role in effective way to launder the
understanding of the mitigating this risk. AML/CFT proceeds of crime or finance
participants in the areas controls, when effectively terrorism. By exploiting the
of cheque handling, the laws implemented, mitigate the complexities of international
governing negotiable adverse effects of criminal trade, criminals can transmit
instruments and the best economic activity and huge amounts of value across
practices based on promote integrity and borders with little chance of
previous court rulings. Mr. stability in financial markets. detection.
Shahid Iqbal discussed in
In this backdrop, NIBAF- For capacity building of
detail the concept of
Peshawar held a financial institutions in this
negotiability, types of
comprehensive 2-day online rapidly evolving area, an
negotiable instruments,
training session for bankers online training on 'Trade
cheques and their types,
during June 7-8, 2021, Based Money Laundering'
crossings and endorsements,
encompassing the key was conducted by
legal protection available to
concepts and practices NIBAF Muzaffarabad on June
the paying and collecting
of AML/CFT risks and the 10, 2020 which was delivered
banker was discussed in
latest legal & regulatory by Mr. Salim Thobani (Head of
detail. The session proved to
requirements. The session Foreign Exchange Monitoring
be very enlightening for both
was delivered by Mr. Shahid Unit, Meezan Bank
the novice as well as
Iqbal who is a subject Limited). The session was
experienced bankers in the
specialist in the area and has attended by a number of
session.
remained a part of corporate participants from Trade and
Financial institutions are training institutions (including Compliance functions
required by their regulatory NIBAF) for almost three of different financial
authorities to provide all decades. Several case studies institutions. The session
employees with an annual were discussed during this encompassed the different
anti-money laundering extremely interactive session risk scenarios regarding trade
training. Regular AML/CFT and was highly commended based money laundering and
Risk Awareness training by the participants from the controls required to
enhances employees’ different commercial banks. minimize their incidence. The
vigilance against the latest presentation was followed by
Trade based money
ML/TF risks faced by the an extensive Q&A session
laundering is a highly
where individual questions
were addressed by the
trainer. The participants
highly appreciated the
contents and the delivery
methodology of the trainer.
Training Matters! – April – June, 2021 32
