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General News of Tuesday, February 19, 2019
Source: Myjoyonline.com
2019-02-19
Ken Ofori-Atta, Minister of Finance
The Ministry of Finance is disappointed with the European Commission's decision to add Ghana to a list of 23 countries with strategic deficiencies in their anti-money laundering and anti-terrorist financing frameworks.
"We consider that the methodology used by the EC is flawed, as there has been no communication with Ghana regarding gaps to be improved. As a result, Ghana has not had the opportunity to respond or the time it takes to implement corrective measures, which is the norm, "the Ministry of Finance said in a statement.
"The Ghanaian blacklist by the European Commission therefore does not reflect the current state of Ghana's AML / CFT regime," he added.
Ghana and its neighbor in West Africa, Nigeria, were added to an already existing 16-country blacklist, announced by the EC in a February 13 press release.
The listing does not, however, result in any type of sanction, restriction of commercial relations or obstruction of development badistance; but obliges banks and obliged entities to apply enhanced due diligence measures for transactions involving these countries.
Read the full statement below:
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