Bahrain establishes new money laundering taskforce

Bahrain is establishing a new taskforce to combat money laundering and terrorist financing across the region. The Middle East and North Africa Financial Action Task Force (MENAFATF) will be set up on November 29 and 30 in a meeting to be held behind closed doors, Gulf Daily News reported.

So far 16 countries have signed up for membership, the report said, but that number could increase, according to Finance and National Economy Ministry Under-Secretary Shaikh Ebrahim bin Khalifa Al Khalifa.

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