RERA promotes awareness against money laundering and financing terrorism

Manama, Oct. 25 (BNA): The Real Estate Regulatory Authority (RERA), in cooperation with the Bahrain Institute of Banking and Finance (BIBF), launched a specialised training programme as a part of Anti-Money Laundering Academy, with the aim of increasing public awareness of best practices related to money laundering.

This initiative comes within the initiatives of the supervisory authorities to raise the awareness of compliance officials in non-financial businesses and professions, to protect the sector from exploitation by money laundering and terrorist financing criminals, and to enhance the role of the national system in combatting these crimes.

The RERA affirmed that all licensed compliance officers at the authority must join the program, in accordance with the authority’s decisions regarding procedures for prohibiting and combating money laundering, terrorist financing, and the illicit transfer of funds across borders, as part of the responsibilities of those licensed to practice real estate sector activities.

The RERA also called on holders of new licenses to enrol the compliance officer in this course within 90 days of the issuance of the license, and to notify all holders of valid licenses to enrol compliance officers in this course during the current year.


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