FATF Declaration on Removing Sudan from its List a Step towards Lifting Sanctions

Khartoum – Ministry of Justice Undersecretary and Chairman of the National Committee of Money Laundering Combating, Ahmed Abbas affirmed that the declaration of the Financial Action Task Force (FATF) according to which Sudan was removed for list of countries whose systems are in neglect of combating money-laundering and financing terrorism as Sudan has been proved satisfied all requirements for fighting money-laundering and financing terrorism as per international standards, is considered a step towards lifting the unilateral sanctions.
He said that the decision opens economic aspects and affirms that the Sudanese economy is not suffering.
He confirmed the Presidency’s concern on the issue, calling on the Sudanese diplomacy to utilize the opportunity to work out a plan to remove Sudan from the list of countries sponsoring terrorism.
For his part, Ministry of Finance and National Economy Financial Information Unit Director, Haydar Abbas said that Sudan was subject to embargo since 1996, a matter that affected negatively on the exchange rate and the deterioration of the Sudanese pound.
Interpol Director, Maj. Gen. Mutasim Abdul Rahman said that money-laundering is a punishable crime, affirming that Sudan is linked with 190 States round the globe in this regard, adding that removing Sudan from the list will have its great impact on other files.
It is worth noting that the Financial Action Task Force (on Money Laundering) (FATF) decided in its meeting of October 23 to remove Sudan from list of countries, whose systems are in neglect of combating money-laundering and financing terrorism as Sudan has been proved to have satisfied all requirements for fighting money-laundering and financing terrorism as per international standards.
The decision came as a result of tremendous efforts made by the Central Bank of Sudan (CBOS) as well as other relevant authorities over the past year to set up an effective system to combat money-laundering and financing terrorism, which culminated in enacting anti-money-laundering and financing terrorism law of 2014, and CBOS circular for anti-money –laundering and financing terrorism.
The decision will help ease procedures for financial remittances from and into Sudan.