Legislative Guide for the Implementation of the United Nations Convention against Corruption(Arabic/English)

Specialists Call for Expediting Ratifying the Formation
 of the National Anti Money Laundering Committee

In a workshop organized by Aman in Ramallah on June 16^th 2008, on "Assessment of the Palestinian experience in combating money laundering", participants called to expedite the ratification of the formation of a National Anti Money Laundering Committee in the Palestinian Territories to take a role against this disturbing phenomenon. Participants stressed the importance of integration and coordination between the public sector and the private sector organizations to address such economic crimes.

This workshop, attended by representatives of the Palestinian Monetary Authority, the Capital Market Authority, banks, economic institutions and some economists and law experts, was conducted within the growing international and domestic awareness of the risks associated with money laundering, which is connected to a high extent to the existence of corruption.

It is worthy of mentioning that Aman took an initiative to prepare a report on the Palestinian experience in combating money laundering in the light of the Palestinian National Authority's adoption of the Anti-Money Laundering Act on October 25^th, 2007. the General Commissioner for Anti-Corruption Affairs- Aman, Dr. Azmi Shuaibi, said that the workshop comes within the continuing review of the Palestinian reality and as an assessment of the Palestinian experience in this field, especially with what is being said about the lack of the Palestinian expertise in this area and the Palestinian experience in general, as well as the significance of the Palestinian situation.

Mr. Shuaibi mentioned that the report Aman prepared can be used for the review and assessment purpose. Many comments were raised on the report as a research paper and a background for discussion, where Mr. Shuaibi said that there is a need to raise a number of questions about the law measures against money laundering and to what extent this law addresses the subject of money laundering and the role of official and economic institutions in combating this phenomenon. Also, it was stressed on the need to develop skills and prepare trained cadres to detect money laundering, along with legal actions taken against those involved in this kind of crimes.

The Executive Director of Aman, Ms. Ghada Az-Zghayyer confirmed the importance of holding this workshop within Aman's efforts in the collection and analysis of information on corruption, its causes and its effects on the Palestinian society. Ms. az-Zghayyer referred to the link between the crimes of money laundering generated by corruption, illegal income generation, smuggling and counterfeiting, and evasion of payment of taxes and customs. Moreover, she pointed out that the workshop aimed to raise a set of issues associated with such crimes as corruption does not end with the criminal act, but it goes beyond that to include laundering money generated from this kind of crime.

Ms. Sahar Qawasmi, a PLC member, stressed on the seriousness of this phenomenon on the stability of the Palestinian economic situation, pointing out that the application of the anti-money laundering law is very important to protect the national economy, especially in the presence of indicators of the possibility of Israeli gangs' involvement in the crimes of money laundering

From his side, the representative of the Palestinian Monetary Authority, Mr. Riyad Awaida, pointed out the importance of expanding the follow-up on such crimes to others and not limiting it to banks only. He said that work in this area should be expanded to include money changers, in addition to the need to involve other related sectors and organizations which can play an essential role in confronting this phenomenon. Mr. Awaida also emphasized that the Monetary Authority is still waiting for the National Anti Money Laundering Committee to assume its tasks, after the approval and ratification of President Mahmoud Abbas.

 From his side, the Director General of the Palestinian Capital Market, Dr. Atef Alawneh, stressed the importance of the compliance to the international standards in all economic fields. This compliance includes standards and laws related to combating money laundering in the Palestinian territories. He also stressed the importance of verifying information and not participating in the dissemination of inaccurate information that may create confusion in the Palestinian society.

Many participants raised many issues associated with the importance of integration and cooperation between all public sector organizations and private sectors ones in implementing the anti-money laundering law, developing the Palestinian regulations and laws which in turn will contribute to the eliminations of risks of the spread of this phenomenon. Also it was emphasized on the importance of activating the role of the judiciary and developing penalty-related legislations and regulations that are applied on the ones involved in such crimes.