Sierra Leone's President Julius Maada Bio inaugurated the 29th Ministerial Committee Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) at the New Brookfields Hotel in Freetown. GIABA, an ECOWAS institution, aims to combat money laundering and terrorist financing across West Africa.
During his opening remarks, GIABA's Director General Edwin W. Harris Jr. thanked President Bio for attending and highlighted a regional report calling for increased efforts against financial crimes. "While progress has been made, our region must double its efforts. This meeting is a call to action, not just talk," Mr. Harris stated. He praised GIABA’s training programs that have assisted six member states and stressed the need for stronger commitment from these states: "As Director General, I have rebranded and reformed GIABA, elevating its status and recognition. Now, we must act decisively to translate our plans into measurable results."
Elisa de Anda Madrazo, President of the Financial Action Task Force (FATF), commended GIABA’s initiatives and promised continued support from her organization. “The fight against money laundering is a global challenge,” she said. She emphasized FATF's commitment to enhancing capacity building and collaboration within the ECOWAS region.
Minister of Finance Sheku Ahmed Fantamadi Bangura welcomed the delegation and highlighted Sierra Leone’s legislative progress in tackling financial crimes. He stressed the importance of dialogue to implement GIABA’s recommendations: “Through collaboration at the inter-ministerial level, we can create a secure financial ecosystem and effectively address money laundering and terrorist financing.”
President Bio reaffirmed Sierra Leone’s dedication to combating financial crimes in his keynote address: “We stand at a critical juncture in our collective fight against transnational financial crimes.” He detailed Sierra Leone’s advancements in aligning national laws with international standards and investing in training and technology.
“Our approach must adapt to emerging threats,” he noted, emphasizing joint investigations as crucial for dismantling criminal networks. The President highlighted Sierra Leone's achievements recognized by international bodies like the United Nations.
In closing, President Bio called for renewed commitment from member states: “The success of GIABA is tied to the political will of each member state." He urged delegates to leave with a strong action plan focused on regional security and economic development.
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