By Olimatou Coker
The Financial Intelligence Unit (FIU) has validated the country’s second national risk assessment (NRA) report, a crucial step in strengthening the nation’s anti-money laundering and counter-terrorism financing framework.
The validation exercise, held at the Sir Dawda Jawara Kairaba Conference Centre, aimed to identify and assess the money laundering, terrorist financing, and proliferation financing risks facing the country.
The NRA is a comprehensive evaluation of The Gambia’s exposure to money laundering, terrorism financing, and proliferation financing risks.
The exercise involved a review of the chapter report, validation by AML/CFT/CPF stakeholders, and finalisation of risk ratings and actionable recommendations.
The validation process reflects a shared commitment to protecting the financial system against illicit financing and strengthening the country’s resilience against financial crimes.
Ida Faye, representative of the Governor of the Central Bank of The Gambia said the NRA is an essential tool for risk-based regulation, allowing “us to transition from remediation to proactive resilience.”
Husein Thomasi, Solicitor General and Legal Secretary stated: “The enactment of key legislation, such as the Anti-Money Laundering and Combating of Terrorist Financing Act, demonstrates our commitment to combating financial crimes.”
For his part, Alagie Darboe, Director of the Financial Intelligence Unit said the validation process reflects a shared commitment to protecting the financial system against illicit financing and safeguarding the integrity of our financial system and country.
Lamin Gassama, Deputy Permanent Secretary, Ministry of Interior said the implications of the NRA are significant, and “we recognise our operational effectiveness is central to reducing national AML/CFT exposure.”
The finalised NRA report will guide national policy, inform risk mitigation strategies, and contribute to enhancing The Gambia’s resilience against financial crimes.
The report’s findings and recommendations will inform national strategies and strengthen broader economy, aligning The Gambia’s financial system with international standards set by the Financial Action Task Force.
