AML Tiers

  • This Anti Money Laundering (AML) Law, established in 1998 and modified in 2015, has the aim of preventing, detecting and sanctioning money laundering activities.  All entities and natural persons subject to this law are required to report suspicious financial operations. They are also responsible for appointing and training officials who will carry out transactions which may be subject to money laundering acts.
    In Force
  • A successful innovation in addressing the provision of basic financial services and at relatively low cost serving financial inclusion goals is known Digital Financial Services (DFS). It mimics the basic transactional – and mostly non-credit - capabilities of bank accounts, but is provided by banks as well as non-banks such as mobile network operators (MNOs) and third parties known as Digital Financial Services Providers (DFSPs). Access to DFS is (primarily) via low-cost mobile phones, and is sometimes also termed ‘mobile money’ and ‘mobile financial services’ (MFS).

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