Effective tools to prevent and minimize money laundering across financial institutions in the Kingdom were the focus of a workshop organized by CrediMax – the pioneering credit card issuer in the Kingdom of Bahrain.
The workshop – a part of a series of training workshops organized by CrediMax–aims to enrich and develop the skills of the workforce by highlighting the regulations and framework deployed by the Kingdom of Bahrain.
“Money laundering poses a threat to the functioning and reputation of the Credit CardIndustry in the Kingdom of Bahrain as well as our customers,” Chief Executive of CrediMax, Mr. Yousif Ali Mirza adding that, “We are committed to empower our employees by educating them on the latest laws and regulations aimed at defeating money laundering and how to effectively and professionally combat such acts in order to further position CrediMax as a company committed ensuring the safety of its customers.”
The Compliance Officer & MLRO at CrediMax, Mr. Mahmood Muslim, added that, “The workshop highlights the efforts exerted by financial institutions to prevent & defeat money laundering to act in line with government regulations and according to the international standards of Visa, MasterCard and JCB. The workshop is a part of the Central Bank of Bahrain’s requirements and it is our duty to ensure a safe financial processing environment in Bahrain.”
The focus of the workshop was to ensure employees understand the most recent trends along with the detection and prevention of financial frauds and techniques used to prevent such acts. The workshop also highlighted the role played by CrediMax to support the government’s initiative to combat money laundry.
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