The implementations of AML/CFT regime is coordinated by National Anti-Money Laundering and Countering financing of Terrorism Committee (NAMLC). NAMLC is a multi-institutional committee tasked by the 2016 Anti-Money Laundering and Countering the Financing of Terrorism Act (AML/CFT) to provide policy guidance and set the strategies of Somalia’s AML/CFT regime.
There are two levels of coordination:
NAMLC – High Level | Task Force – Operational Level |
Formulates policy, provides advisory role and set out strategic direction of Somalia AML/CFT Regime.
This level comprises of the Heads of Ministries and Agencies |
Task Force is a subcommittee for operational level where it involves coordination at working level to address operational issues pertaining to implementation and effectiveness of initiatives approved by NAMLC – High Level Committee. |