The African Export-Import Bank (Afreximbank) and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) are preparing to organize a major event aimed at improving compliance practices in African trade. Under the theme: “Better Compliance – Better Trade: The Implications of New FATF Requirements on Ultimate Beneficial Owner Identification and Their Impact on Trade“, this International Compliance Forum will be held from September 4 to 6, 2024 in Dakar, Senegal.
The high-level event will address crucial topics for the development of trade in Africa, including:
- Financial Action Task Force (FATF) requirements regarding the identification of Ultimate Beneficial Owners (UBO)
- The role of artificial intelligence in compliance processes
- Strategies to help African countries get off the FATF grey list
- The latest technologies in compliance
Idrissa Diop, Compliance Director at Afreximbank, emphasizes the importance of the event: “The Forum has been designed to improve intra-African trade and support Africa’s global trade with the rest of the world by aligning with international compliance standards.”
International experts will participate in the discussions, including Shane Riedel from Elucidate and Gary Mthombeni from LexisNexis Risk Solutions. They highlight the crucial importance of compliance in the context of increasing digitization of transactions.
The Forum is expected to attract a wide range of participants, from central bankers to trade experts, compliance officers, and technology providers. The goal is to foster constructive dialogue and develop concrete solutions to improve compliance and facilitate trade in Africa.
This event is part of a broader approach to strengthen the credibility of African trade on the international stage and create a safer and more transparent business environment. It demonstrates the commitment of Afreximbank and GIABA to support the continent’s economic development by aligning with global best practices.
Interested individuals can register for the Forum via this link https://www.afreximbank.com/events/events/compliance-forum/
