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Jamaica seeks to increase voice on C’bean financial matters

Minister without Portfolio in the Ministry of Finance and the Public Service, Fayval Williams, says Jamaica is taking steps to increase its voice in the Caribbean on matters relating to the financial sector.
In that regard, Williams is to head a Jamaican delegation to the Caribbean Financial Action Task Force (CFATF) to accelerate the country’s representation to the body.

The CFATF is an organisation of 25 States of the Caribbean Basin, Central and South America that have agreed to implement common countermeasures to address money laundering.

Addressing the opening of the 7th Annual Anti-Money Laundering/Counter-Financing of Terrorism Conference, at The Jamaica Pegasus hotel in New Kingston on Tuesday (October 2), Williams informed that Jamaica has sought and obtained a seat on the CFATF’s influential Steering Committee to increase its participation in the work of that body and, consequently, the wider Financial Action Task Force (FATF) global network.

The FATF is an intergovernmental organisation based in France, which was established to combat money laundering and terrorism financing.

“I will seek to advance certain issues that are of benefit to Jamaica, including de-risking issues, regulatory regimes for emerging technologies, and financial inclusion,” Williams noted.

In the meantime, the minister said the Government is continuing its work to reform and strengthen Jamaica’s anti-money laundering/counter-financing of terrorism framework to comply with global standards.

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