MENA FCCG’s Europe Chapter holds members’ meeting
On November 23, 2023, MENA FCCG’s Europe Chapter held a members’ meeting to agree on new initiatives aimed at further supporting Arab banks in the UK and Europe in their combating financial crime efforts.
The members noted the recent launch of MENA FCCG’s ‘Measuring Organizational Culture Guide’ which not only provides guidance on best practices but also a scorecard that firms can use for assessing their own culture. The Guide has been well received and the members considered ways to extend its distribution to a wider network.
During the meeting, members agreed to produce a Best Practice Paper on a Combatting Financial Crime Framework expected to be published during the first half of 2024.
The meeting received a presentation on current ‘hot topics’ that included the recently enacted UK requirements on Consumer Duty, deepening compliance with GDPR, and political developments in Russia and China. Sanctions screening best practices was another key topic that was discussed.
The meeting also discussed the inaugural Countering Financial Crime (CFC) Forum provisionally scheduled for Q1 2024 to be hosted by LSEG.
The European Chapter of MENA FCCG was founded in 2021 to lead and coordinate the efforts of Arab banks to fight financial crime in the UK and Europe. It is chaired by Thomas Noone, Head of Compliance at Europe Arab Bank. The London Arab Bankers Association acts as the Strategic Partner, and the Chapter has entered into a Strategic Alliance with Themis, the financial crime specialist.
Contact:
Thomas Noone, Head of Compliance, Europe Arab Bank: thomas.noone@eabplc.com
MENA Financial Crime Compliance Group at: www.menafccg.com
