Special program for employees of Iraqi banks: SPECIALIZED DIPLOMA ANTI-MONEY LAUNDERING& COMBATING FINANCING of TERRORISM
12 – 16 FEBRUARY 2018 BEIRUT – LEBANON
The issue of Money Laundering and Financing of Terrorism has become one of the most threatening risks to the stability of the global financial and economic system in addition to the countries’ security and sovereign stability. The illegal proceeds can be used in financing terrorist activities while taking into consideration that the financing of terrorism might come from legal and illegal sources. In the midst of the increasing terrorist activities and the expanding influence of the terrorist organizations on some of the Arab countries, there is now greater focus on drying up all sources of terrorism financing.
Therefore, we must emphasize on the importance of the role of heads of compliance and reporting officers in the Arab banking sectors. They play a key role in AML/CFT through examining the unusual and irregular operations, conducting background checks and tracking its route from the source, informing the Private Investigation Authority, and suggesting necessary procedures to develop and update the adopted policies, system and procedures in banks in order to increase its effectiveness and efficiency.
In the midst of the increasing demand from Iraqi banking sector who possess the required knowledge in the fundamentals and the principles of Anti-Money Laundering and Combating Terrorism Financing, the Union of Arab Banks in cooperation with Beirut Arab University, established a specialized “Diploma – Mini MBA” on AML/CFT, which is considered to be the sixth program of its kind to be taught in Arabic as part of the international standards.
The program aims to provide the Arab banking sector and especially Iraqi banks employees who’s tasks intersect with the program’s topic, with the necessary culture, knowledge and experience in the fundamentals, principles and practical sides of AML/CFT according to the international requirements of the Basel and FATF Recommendations, the US Treasury, United Nations, and other relevant institutions.
In order to encourage the bank employees to participate in the program, we have decided to consider the certificate awarded by the program as credit hours (according to the university’s curriculum) as part of the AML Diploma that the Faculty of Business Administration at Beirut Arab University is planning on establishing in the near future
For the purpose of developing a rich program, the Union of Arab Banks has established a steering committee which includes highly qualified and experienced members in the field of AML/CFT from the Arab banking sector.
The committee provides guidance concerning the flexible academic program and ensures its effectiveness especially in the current changes and developments in this banking field, while taking into consideration the characteristics and regulations of every Arab country. The committee will also review the applications for the program.
The Steering Committee Includes:
Mr. Wissam H. Fattouh, Secretary General, Union of Arab Banks.
Prof. Dr. Nehale Farid Mostafa, Dean of Faculty of Business Administration, Beirut Arab University.
Prof. Dr. Wagdi Hegazy, Head of Accounting, Beirut Arab University
Mr. Dani Nassar, Head of Compliance at Bank of Beirut – Lebanon
Mrs. Karine Zabloski, Director of Compliance at SGBL – Lebanon
Mr. Mohamad Mansour, Senior AGM, Chief Compliance Officer – Qatar Commercial Bank.
Combating Financial Primes Departments
Internal auditing Departments
Risk Management Departments
AML / CFT Laws
KYC Law (Know Your Customer)
Customer Due Diligence
Role of the Compliance Officer
Risk Based Approach
Policies and Procedures
International Challenges in the current situation
Financial Crimes Caused by E-payments
Monitoring banking operations and inspecting banking payments.
Difference between AML and CFT.
The Steering Committee will review the applications and select the eligible participants
Duration of the program: Five Days from Monday till Friday – 9 am to 2 pm (25 Hours dedicated to lectures and training to be interspersed with coffee breaks.
One day review to be offered
Final exam to take place one week after the conclusion of the lectures.
Minimum passing grade of the final exam: 80/100
Minimum attendance: 80% of the lectures
Participants who pass the final exam will receive a Certificate of Completion
The above mentioned certificate will be equivalent to credit hours (according to the university’s curriculum) as part of the AML Diploma that the Faculty of Business Administration at Beirut Arab University is planning on establishing in the near future.
Deadline of the abovementioned offer is one year
Participation fee will cover the course material, final exam, certification of completion, coffee breaks.
The Union of Arab Banks will offer a one day review (free of charge) for the participants who completed the program and interested in registering for the AML Diploma at Beirut Arab University.