Page 24 - NIBAF-Training Matters July - December 2022
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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-
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