Maldives Monetary Authority (MMA)'s independent agency, Financial Intelligence Unit (FIU), on Sunday, declared the commencement of efforts to join the Egmont Group, an international network of 159 FIUs.
In order to join the Egmont Group, an applicant FIU must secure two sponsoring members that are tasked with guiding and supporting the applicant in its membership process. Correlating agencies from Sri Lanka and Bangladesh have agreed to sponsor the Maldivian unit's bid to become a member.
A team of experts from both sponsors have visited Maldives to ascertain whether the FIU fits Egmont's membership criteria.
MMA's Governor Ahmed Naseer and FIU head Ibrahim Ahmed Nasir have also held meetings with this team.
Founded in 1995, the Egmont Group provides a platform to exchange expertise and financial intelligence to make a concerted effort to combat money laundering and terrorism financing.
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