Oman has enacted a new law was being enacted to combat money laundering, a senior official told the Gulf News.
Abdulmalik bin Abdullah Al Hinai, Oman's undersecretary for economic affairs, said: "The new law will comply with international standards and provide measures to be applied against offenders.”
He added that it will be enforced strictly and effectively in order to thwart attempts to legalize black money associated with crimes such as illicit drug trafficking.
He said the law also provides the creation of a high-powered agency comprising senior officials from the ministry of national economy, Central Bank of Oman, ministry of commerce and industry, Capital Market Authority, Royal Oman Police and General Prosecution.
Al Hinai said the Sultanate was in close touch with the international anti-money laundering committee and Oman would take part in the committee's meeting in France next month. "The committee has commended the Sultanate's efforts in this regard,” the official said -- Albawaba.com
An international seminar was organised by Central Bank of Oman on money laundering as part of the campaign to fight growing white-collar crime.
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