Cabinet nod for National Coordination Committee for Prevention of Money Laundering and Suppression of Supply Monetary Allocations for Terrorism

The Cabinet has granted approval to establish a task-determined recommendations and performance force for the National Coordination Committee for Prevention of Money Laundering and Suppression of Supply Monetary Allocations for Terrorism, Government Information Department said.

The National Coordination Committee for Prevention of Money Laundering and Suppression of Supply Monitory Allocations for Terrorism is comprised of individuals related to and representatives of relevant state institutions, law enforcement authorities, regulatory authorities and prevention of money laundering and suppression of supply monetary allocation for terrorism.

In order to formalize the process of the national coordination committee, a task determined recommendations and performance force has been drafted for that committee. Also, it has been identified that a task force is essential to be established to ensure the productive coordination among state institutions, financial institutions, regulatory authorities and other stakeholders when looking for solutions for issues erupted when preventing money laundering and suppressing the supply of monetary allocation to terrorism.

Accordingly, the Cabinet has granted its consent to the resolution forwarded by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilization and National Policies Minister to establish a task determined recommendations and performance force for the National Coordination Committee for Prevention of Money Laundering and Suppression of Supply Monitory Allocations for Terrorism.

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