Page 24 - NIBAF-Training Matters July - December 2022

develop and deliver training
sessions at different levels on
regular intervals. On the specific
request of HBL, NIBAF conducted their respective areas for the In this context, a one-day program
three back to back training participants. on AML/CFT Regulations for Money
programs under the “Compliance Link Exchange Company at SBP
Staff Development Series” for HBL Customized Training for BSC Peshawar on December 24,
Staff, at L&D facility of HBL, Karachi Money Link Exchange 2022. The training was attended by
from December 20-22, 2022. These 18 front line officers of the
Programs were conducted by Company exchange company. Mr. Gulzar
panel of trainers from FMU Khan, Joint Director, SBP delivered
including Ms. Samina Hashwani, In order to cater for the specific the training and apprised the
Mr. Waqas Hamid and Mr. Shahzad business model and hence unique officials about various aspects of
Hussain. Mr. Shahid Iqbal, Subject training requirements of the Customer Due Diligence,
Specialist, NIBAF and Deputy exchange companies, NIBAF has Enhanced Due Diligence,
Commissioners, Anti-Benami also been designing programs documentation involved and red
Initiative Zones, FBR Mr. Zahid specifically for this segment as well flag indicators for Exchange
Hussain and Mr. Bilal Mahmood as for individual institutions as per Companies. NIBAF plans to hold
Jafri also delivered sessions on their training need assessment. more such programs other
exchange companies.

methods to ensure that participants Meet International Standards, SBP
learn the given concepts, industry Regulation & Compliance
Advance Professional best practices and certificates are Requirements for Financial
Certificate Course on awarded to successful candidates Institutions ,Basic Concepts and
AML/CFT after a comprehensive exam. Typologies of Money Laundering ,
Digital Currencies and ML/TF risks
The course offers a unique associated risks with Crypto, Role
The five-day Advance Professional combination of topics that builds on of Financial Monitoring Unit (FMU)
Certificate Course in Anti-Money theoretical and practical skills of and Reporting Requiremen ts , Role
Laundering (AML) & Combating of participants enabling them to and Function of FIA’s AML/CFT cell
Terrorist Financing (CFT) has come develop action plans aligned with and its interaction with banks
to be recognized as a unique and regulatory frameworks and best exchange companies and
comprehensive learning practices in the financial services investigation process, Role and
experience for compliance business context. Evening talks on functions of FBR Benami Zones,
professionals in the local financial important topical areas in AML and Adjudicating authority and
industry. This program has been CFT further offer an opportunity for investigative process of FBR under
designed by NIBAF in close participants to interact and learn Benami Act 2017, Role and
consultation with subject matter from with top-notch practitioners in Function of NAB’s AML/CFT cell
experts and different stakeholders the field. Practical case studies and its investigation process, Trade
and continues to be upgraded with offer hands-on practice on analysis Based Money Laundering (TBML),
each iteration in view of the industry of the required preventative Money Laundering through
requirements and feedback from strategies and the significance of correspondent banking and role of
practitioners. The program is stakeholder engagement and inter- National Counter Terrorism
rigorously evaluated using host of agency collaboration to combat Authority (NCTA) in Combating the
money laundering and the Financing of Terrorism. Experts
financing of terrorism. from NIBAF, SBP, SBP BSC,
Commercial Banks, FATF
With an interactive learning Secretariat, National Counter
experience, participants’ Terrorism Authority, Federal
understanding of the key Investigation Agency, Inland
themes in the area are Revenue, National Accountability
developed under coverage Bureau and Financial Monitoring
of content organized in nine Unit share their expertise and
modules. The modules practical experience in relevant
include Regulatory Regime areas. The eighth iteration of the
& Legal Requirements to program was conducted at NIBAF-