GIABA HOLDS STATUTORY MEETINGS IN LOME
The Intergovernmental Action Group against Money in West Africa (GIABA) will be holding its statutory meetings in Lomé, Republic of Togo, from 16th to 21st Mai 2021.
The 35th Technical Commission/Plenary meeting of the Community Institution will be held in a hybrid mode (virtually and physically) from 16th to 21st May 2021. Convening twice a year, the objective of these meetings is to provide a forum for discussions among technical experts from Member States (MS) of the threats and challenges associated with Money Laundering and Financing of Terrorism (ML/FT) in the sub-region. They also provide an opportunity for MS to address relevant issues that require a concerted and harmonized approach in the effective implementation of AML/CFT measures. Finally, as an experience-sharing platform, the Plenary sessions also make for the establishment of partnerships among experts, MS representatives, technical partners and observers in AML/CFT.
In Lomé, discussions will focus on the Mutual Evaluation Report (MER) of the Republic of Benin under the 2nd Round. The Follow-up reports under the 1st Round of Mutual Evaluations (MEs) of The Union of the Comoros and Sao Tomé and Principé, will also be considered. In Lomé, the Evaluation and Compliance Group (ECG) will be holding a sharing session on the obligations of Member States within the framework of the mutual evaluation process. The objective of the Mutual Evaluation and Follow-up Process and Procedures is to assess the implementation and effectiveness of the laws and other measures as required by the core criteria. These MEs also verify whether all the requisite measures have been fully and consistently implemented. They are also designed to assist Member States in resolving the deficiencies identified in their AML/CFT regimes in order to ensure their compliance with international standards and effectiveness.
Also on the agenda of the 35th GIABA Plenary are the meetings of the Risks, Trends and Methods Group (RTMG), and the closed session of the Forum of Financial Intelligence Units (FFIU). The Opening Ceremony of the 35th Plenary is scheduled for 20th May 2021 and will be presided over by the Honourable Minister of Economic Development and Finance of the Republic of Togo.
The 23rd GIABA Ministerial Committee meeting will be held on 22nd May, 2021. The Institution’s line Ministries will consider and adopt among others, the Summary of the Director General’s Activity Report; the Sub-Committee’s Report on the Revision of the GIABA Statutes; the Reports of the Extraordinary Plenary and 35th Technical Commission meetings and the Mutual Evaluation Report of the Republic of Benin under the 2nd Round, among others.