Press Releases
BOT experts for Counterterrorism Financial Regulatory Training in the U.S.
April 12, 2007
Five Bank of Tanzania (BOT) experts have been selected to participate in a five-day Counterterrorism Finance Regulatory Course. The course starts on April 16 thru April 20, 2007, at the Federal Deposit Insurance Corporation (FDIC) training facilities in Arlington, Virginia.
This U.S. government sponsored course is for experienced banking supervisors, either from central banks or financial regulatory agencies dealing in Anti-money laundering (AML) or Counterterrorism Financing (CTF) compliance issues and a ready to become trainers of others on their return.
According to a press release from the U.S. Embassy, BOT is sending to this course: Deputy Director Non Banks Supervision Moses C.J. Gasabile, Senior principal Accountant Christa A.K. Gama, Senior Administrative Officer Harry J. Mwansembo, Accountant Albert V. Mkenda and Senior Bank Examiner Onesmo H. Makombe.
The participants will receive knowledge on how money laundering and terrorist financing transactions are perpetrated and what controls in financial institutions need to be put in place to detect or deter these actions.
The Tanzanian participants will be joined by financial experts from Nigeria, Paraguay and Turkey.
These bankers will be provided with basic overview of AML/CTF examination techniques, tools, and case studies. The financial experts are expected to study as a team of examiners and participate in practical exercises. They will also be trained as trainers and provided with the necessary tools to return to their own countries and train their colleagues.
This is only one of several programs the U.S. Government provides as direct assistance to Tanzania. During the fiscal year beginning October 1, 2006, the U.S. Government is expected to provide over $542 million (over 680 billion Tanzanian shillings) in direct assistance and through multilateral organizations to Tanzania.