The Bahrain Institute of Banking and Finance (BIBF), the region’s premiere training and development provider, has announced the launch of the “Certified Global Sanctions Specialist” (CGSS) programme in collaboration with ACAMS as part of an effort to equip compliance professionals with the necessary tools to understand and interpret changing sanctions regimes and regulations.
The programme will help participants understand sanctions measures, implement due diligence procedures, identify sanctions evasion techniques, and gain a detailed understanding of the risks of non-compliance.
On this occasion, the BIBF Director, Dr. Ahmed Abdulhameed Al Shaikh, stressed the importance of launching this programme in line with the Kingdom’s efforts to combat money laundering and terrorist financing, and he expressed pride in collaborating with ACAMS, the world’s largest international membership organisation for anti-financial crime professionals.
Under an agreement with ACAMS reached in 2008, BIBF implemented the association’s “Certified Anti-Money Laundering Specialist” (CAMS) programme, which resulted in the certification of more than 250 participants. “The BIBF seeks today to expand the scope of its partnership with the association by training sanctions professionals on the highest compliance standards for working in the Kingdom’s financial sector,” Dr. Al Shaikh concluded.
“We’re proud to partner with BIBF on this initiative to elevate sanctions standards across the region and we look forward to supporting Bahrain’s thriving financial sector as it takes the next steps on its compliance journey,” said ACAMS CEO Mr. Scott Liles.
He also added, “As intergovernmental organizations such as FATF and MENAFATF continue to call on nations to strengthen their anti-financial crime and sanctions controls, effective compliance programs are a critical step toward ensuring the integrity of the financial sector and the ease of access to correspondent banking services around the world.”
“With over 90,000 members across 180 jurisdictions, ACAMS is committed to the mission of ending financial crime through the provision of anti-money laundering/counterterrorism-financing and sanctions knowledge-sharing, thought leadership, risk-mitigation services, ESG initiatives, and platforms for public-private dialogue.” Mr. Liles concluded.
The Head of the Banking and Finance Centre at the BIBF, Ms. Zeeba Askar, stated that registered candidates who seek the CAMS or CGSS certifications through the BIBF will receive a one-year professional membership with ACAMS, digital study materials, a full or multi-day CAMS or CGSS training course, and access to an examination preparation seminar led by the BIBF.
Ms. Askar added that ACAMS certifications are internationally recognised and will qualify their holders to practice their work as a Certified Specialist in Global Sanctions or a Certified Specialist in Combating Money Laundering.
