Mali

Mali is a vast landlocked country, with porous borders especially in its northern part. It is a place of dense migration, most of it directed abroad. Furthermore, the informal economy is widespread, characterized by a low banking culture and an all-out use of cash transactions. All these factors have led to a stronger commitment of public services to fighting against money laundering and terrorist financing.

Recently, menaces by insurgents have been reported in the vast Sahel/Sahara area between Mali and Niger, thus constituting a potential terrorist threat. In January 2008, Malian Customs seized about 750 kg of cocaine estimated at US$45 million after a desert shootout with heavily armed smugglers near the Algerian border.

The Republic of Mali took early steps in its fight against transnational criminality linked to the drug traffic and money laundering. In that respect, the state of Mali is party to the main international and regional legal instruments since the UN Convention on Narcotics Drugs of 1988. Mali is also a signatory to the UN Convention against Organized Transnational Criminality 2000; the International Convention for the Repression of Terrorist Financing adopted in 1999; and the AU Convention on the Prevention of, and Fight against Terrorism adopted in 1999. The Republic of Mali acknowledges that it has to abide by the obligations contained in the UN SC Resolution 1373.

Law 066 of December 29, 2006 of the Uniform AML Law states that the Republic of Mali is a member of WAEMU and as such must translate Guideline 07.2002/2002/WAEMU of September 19, 2002 into its national legal mechanism. In this respect, Law .066 of December 29, 2006 was adopted by the Parliament and enacted within the framework of the fight against money laundering. A draft national law titled Draft Law for the Repression of Terrorism in Mali, which seems to be in line with international and national AML/CFT instruments, is awaiting approval.

Within the framework of its institutional AML/CFT instruments, the Ministry of Economy and Finances has to play a key role. In this respect, it has to abide by Regulation 09/98/CM/WAEMU, dealing with external financial relationships of member States of this sub-regional organization.

Although a regional AML/CFT Strategy Workshop was held in August 2007 in Bamako, Mali, to support member States to develop an AML/CFT Strategy, no such strategy has been adopted by the Mali Government. Decree 291/P/RM of August 10, 2007, according to the provisions of Article 16 of Law 06.066 of December 29, 2006 on the fight against money laundering in Mali, provides for the establishment of a CENTIF, but this has not been established. The establishment of an effective Inter-Ministerial Committee, as well as the CENTIF, should be a priority if Mali is to strengthen its AML/CFT regime.