WINDHOEK, Aug. 21 — Namibia has been invited to participate in Financial Action Task Force (FATF) plenary and working group meetings as a guest jurisdiction for one year, giving the southern African country a platform to contribute directly to global efforts against illicit finance.
The invitation recognizes Namibia’s progress in strengthening its framework against money laundering, terrorist financing and proliferation financing, the country’s Financial Intelligence Center (FIC) said Friday in a statement.
Under the arrangement, Namibia will participate in FATF plenary and working group discussions under its national flag, albeit without voting rights, the FIC said. The participation is also expected to help Namibia prepare for its next mutual evaluation and deepen cooperation with international partners.
“Namibia welcomes the invitation which gives the country an important platform to contribute to international policy discussions, learn from global partners, and bring regional perspectives to the FATF table,” FIC Director Bryan Eiseb said.
The invitation comes two months after Namibia was removed from the FATF’s list of jurisdictions under increased monitoring, commonly known as the “grey list,” after completing an action plan to address deficiencies in its anti-money laundering and counter-terrorist financing regime.
The guest participation allows Namibia to bring southern African perspectives on illicit financial flows and other cross-border financial crime risks into FATF discussions, as the global body seeks broader participation from regional organizations and non-member jurisdictions.(Namibia Daily News / Xinhua)
