DRC joins CEMAC in the fight against money laundering

The DRC becomes an associate member of the Action Group against Money Laundering in Central Africa. The accession was validated by a signature on 5 September in Brazzaville.

The Democratic Republic of Congo joined the Economic and Monetary Community of Central Africa (CEMAC) on Tuesday to fight money laundering and the financing of terrorism.

This accession is validated by the signature on September 5 in Brazzaville of an agreement between the Deputy Prime Minister and Minister of Interior of the DRC, Emmanuel Ramazani Shadari, with the chairman of the CEMAC commission, Pierre Moussa.

“By joining GABAC today, the DRC intends to mobilize GABAC assistance to upgrade its national anti-money laundering and terrorist financing mechanism,” Shadari said.

He added that “My country has therefore taken stock of the danger of money laundering and terrorist financing for the political, economic, financial and social stability of our States and for international peace and security”.

The clauses of this agreement provide for the assistance of the CEMAC to the DRC in terms of coordination and anti-money laundering and terrorist financing policies.

It is recommended that the DRC commit to undertake any action to combat money laundering and terrorism, submit to the GABAC monitoring and evaluation process, contribute to the financing of GABAC and comply with Council Regulation GABAC manuals on administrative and financial procedures.

The CEMAC has six member states belonging to the Economic Community of Central African States (ECCAS) such as the DRC.

From Xinhua