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  • FATF: 40 Recommendations and 9 Special Recommendations

    • FC-10.1.1

      The Forty Recommendations (see www.FATF-gafi.org) and Nine Special Recommendations (together with their associated interpretative notes and best practices papers) issued by the Financial Action Task Force (FATF), provide the basic framework for combating money laundering activities and the financing of terrorism. FATF Recommendations 4–6, 8–11, 13–15, 17, 21–23, 25, 29–32 and 40 as well as Special Recommendations IV–IX, and the AML/CFT Methodology are specifically relevant to the banking sector.

    • FC-10.1.2

      The relevant authorities in Bahrain believe that the principles established by these Recommendations and Special Recommendations should be followed by licensees in all material respects, as representing best practice and prudence in this area.