MANAMA: A leading consultant has hailed the efforts of two government ministries to step up the fight against money laundering and the financing of terrorism, following new requirements from the Industry, Commerce and Tourism Ministry and the Justice, Islamic Affairs and Endowments Ministry.
Dr Mukund Ballal, who leads Keypoint’s compliance team and has extensive anti-money laundering (AML), regulatory compliance and corporate governance experience, said the measures taken by the ministries – stepping up AML activities for auditors, jewellers, car dealers and legal firms – were an important step in the fight against the crime and would ensure Bahrain’s AML measures remain abreast with international standards .