Anti-Money Laundering Committee Calls on Legislative Authority to Adopt Anti-Money Laundering and Anti-Terrorism Law

Tripoli, February 24, 2025 (LANA) - The National Committee for Combating Money Laundering and Terrorism Financing called on the legislative authority to quickly adopt the (Draft Law on Combating Money Laundering and Terrorism Financing) referred to it by the committee.

The committee considered during its meeting held today, Monday, in Tripoli, headed by the Governor of the Central Bank of Libya, Naji Issa, the law to represent the most important step in implementing the national strategy and adhering to international requirements and standards in this regard.

The National Committee for Combating Money Laundering and Terrorism Financing held its first meeting this year, headed by the Governor of the Central Bank of Libya, Naji Muhammad Issa, - Chairman of the Committee, and in the presence of most members representing national bodies and institutions.

The committee approved updating the national strategy for combating money laundering and terrorist financing, and discussed the necessary executive steps to ensure its effective implementation in a manner that ensures the state's compliance with the standards for combating money laundering and terrorist financing, and avoids the consequences of its classification among non-compliant countries.

During the meeting, the Committee discussed the Libyan state's readiness for the mutual evaluation process by the Financial Action Task Force (FATF), and stressed the importance of the state's commitment to international standards and requirements for combating money laundering and terrorist financing, through developing the legislative framework represented by relevant laws, regulations and controls. The Committee stressed the importance of taking the necessary measures to ensure the state's commitment to relevant international standards and enhance the effectiveness of national efforts in this field.