Tanzania makes progress in fight against money laundering

Tanzania has made progress in strengthening its systems against money laundering, terrorist financing and the financing of weapons of mass destruction, Finance Minister Khamis Mussa Omar said in Kigali, Rwanda.

The government is nevertheless continuing to work on 15 areas identified in an international assessment. They include 12 laws in mainland Tanzania and Zanzibar that were found to require improvements.

Omar made the remarks at the 26th meeting of the Council of Ministers of the Eastern and Southern Africa Anti-Money Laundering Group, known as ESAAMLG. He said Tanzania had succeeded in the mutual assessment conducted by the organization through its experts committee.

The minister said the government was continuing to implement the identified improvements to strengthen the financial sector and support economic and social development. The supplied report ends during a quotation in which Omar refers to Tanzania’s laws and national committee.