Islamic finance and anti-money laundering and combating the financing of terrorism (AML/CFT)
"The money laundering (ML) and terrorist financing (TF) risks associated with conventional finance are generally well identified and understood by the relevant national authorities. There is, however, no common understanding of ML/TF risks associated with Islamic finance. Some are likely to be...
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| Otros Autores: | , , , |
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C] :
International Monetary Fund, Legal Department
2016.
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| Colección: | EBSCO Academic eBook Collection Complete.
IMF Working Papers ; WP/16/42. |
| Acceso en línea: | Conectar con la versión electrónica |
| Ver en Universidad de Navarra: | https://innopac.unav.es/record=b40538977*spi |
| Sumario: | "The money laundering (ML) and terrorist financing (TF) risks associated with conventional finance are generally well identified and understood by the relevant national authorities. There is, however, no common understanding of ML/TF risks associated with Islamic finance. Some are likely to be the same as in conventional finance, but there may also be different risks. This is notably due to: (i) the complexity of some Islamic finance products; and (ii) the nature of the relationship between the institutions and their clients. The limited capacity and experience in the supervision of Islamic finance, especially in jurisdictions that face higher ML/TF risk factors represents an additional vulnerability. The Financial Action Task Force (FATF) standards are implemented without any form of tailoring to the specificities of Islamic finance. The FATF, the Islamic finance standard-setters, and the national regulators should seek a greater understanding of the specific ML/TF risks that may arise in Islamic finance and develop an appropriate response."--Abstract. |
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| Notas: | "February 2016." |
| Descripción Física: | 12 p. |
| Formato: | Forma de acceso: World Wide Web. |
| Bibliografía: | Incluye referencias bibliográficas (page 12). |
| ISBN: | 9781513541174 9781513516158 |
| ISSN: | 10185941 |
