8^th Compliance Coordination Committee Meeting

Place: FinTRACA, Kabul Afghanistan

Date: 2^nd September 2019

Based on the Compliance Coordination Committee term of reference (TOR), the biannual meeting of the Compliance Coordination Committee was held in Financial Transactions and Reports Analysis Center of Afghanistan (FinTRACA) and chaired by the Director General of (FinTRACA) Co-chaired by Financial Supervision Department of Da Afghanistan Bank.

The meeting was attended by ABA, Chief Compliance Officers and Chief Operation Officers of Commercial Banks.

The purpose of the meeting was to discuss AML/CFT preventative measures, responsibility of commercial banks in relation to AML/CFT issues, LCTRs, AML/CFT certification for compliance department employees and to create a platform for exchange of information among mentioned banks.

The above matters were discussed in detail with the members of the committee and consensus was formed on the following points,

• In case of delay in attainment and implementation of new technology by the FIU, the existing technology platform used by reporting entities for LCTR reporting, should be developed to support account based LCTR reporting to FinTRACA. Banks are currently reporting Customer based LCTRs to FinTRACA.


• Chief compliance and Deputy Chief Compliance Officers must attain the required AML/CFT certification by the end of December 2019.


• Electronic signs of customers on KYC forms are no more acceptable. Banks should update KYC forms and get the forms physically signed by customers.


• For the effective and efficient enforcement of new regulations before dissemination it should be shared with ABA and commercial banks for better output.

Upon forming consensus over the above mentioned matters, the Director General of FinTRACA instructed banks to take effective steps toward implementation of Da Afghanistan Bank’s instructions and FinTRACA circulars and maintain close cooperation with FinTRACA and FSD.