Oman has received recognition from the Financial Action Task Force (FATF) for its strong adherence to international standards regarding anti-money laundering and counter-terrorism financing within the Middle East and North Africa region.
The 2024 FATF mutual evaluation report, published today, praised Oman for its comprehensive legal, legislative, and supervisory reforms aimed at enhancing its systems. The report emphasized the country's solid legal and institutional framework for addressing money laundering and terrorism financing offenses.
The report indicates that Omani authorities are well-resourced and have prompt access to crucial financial and other data, which facilitates effective investigations and prosecutions of these offenses.
These findings highlight Oman's commitment to fighting financial crimes and maintaining international standards that foster financial integrity and economic stability. The report is anticipated to improve Oman’s financial and economic reputation, stimulate economic growth, and enhance confidence in its banking, financial, and other sectors.
As a member of the FATF through the Gulf Cooperation Council's Secretariat General and a founding member of the Middle East and North Africa Financial Action Task Force (MENAFATF), Oman’s compliance demonstrates its commitment to global financial security.
