BNM-AFI Member Training on Anti-Money Laundering & Countering Financing of Terrorism, Considerations & Approaches for Financial Inclusions


Bank Negara Malaysia (BNM) and the Alliance for Financial Inclusion (AFI) are organizing a week-long training on Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Considerations and Approaches for Financial Inclusion. The objective of the training is to ensure that AFI members – financial regulators – are enabled to develop clear regulatory frameworks that address the issues of de-risking from a systemic and strategic position, while focusing on responsible financial inclusion.

This is the first time AFI is running a complete 5-day training on AML/CFT. The training is designed based on the AFI member demand raised during earlier capacity building events. After completing the training, participants will be adept to recognise the risks of money laundering and terrorist financing as a result of financial exclusion and how financial inclusion can support anti-money laundering and countering financing of terrorism objectives. They will be able to explain approaches that ensure proportionate implementation of AML/CFT standards for financial inclusion initiatives, as well as identify methods to effectively conduct assessment of compliance with AML/CFT standards

Welcoming 38 participants from 34 countries[1] and 36 institutions, who are attending the training held on 2- 6 October 2017 in Kuala Lumpur, Ms. Kristina Rai, from the BNM’s Human Capital Development Center said that the course is an opportunity to share challenges and learn from each other.

“You are all here today as not just financial sector policy makers and regulators, but also as financial architects and structural engineers who must design policies that are balanced, proportionate and resilient”. Ms. Rai said adding that the balance is to make sure that the AML/CFT measures provide those with low-incomes the access to formal financial services.

“The proportionality and resilience is to ensure such efforts aimed at reducing criminal behaviour do not slow the pace of financial inclusion”, Ms. Rai underlined.

“The goals of financial inclusion and AML/CFT are highly complementary, since high levels of financial exclusion present a higher risk of money laundering and terrorist financing activities operating unseen in the unregulated grey economy”, AFI Deputy Executive Director Mr. Norbert Mumba told the participants.


“This training was designed based on member demand expressed in previous trainings when AML/CFT only had one session dedicated to the topic”, Mr. Mumba said.


“Due to the growing issues around AML/CFT that are leading to an increased role of regulators, this is the first time that AFI is running a complete 5-day training on the topic”, he emphasized.


This is the fourth and last training held this year in cooperation with the BNM. In 2017, AFI has conducted over 20 capacity building events, which includes Member Trainings, Joint Learning Programs, Training under the Public Private Dialogue, Peer Advisory Initiatives – each of them attended by diverse and experienced participants from AFI member institutions.


[1] Afghanistan, Bangladesh, Bhutan, Burundi, Cambodia, Costa Rica, Egypt, El Salvador, Ghana, Jordan, Kenya, Lesotho, Madagascar, Malaysia, Morocco, Mozambique, Namibia, Palestine, Paraguay, Philippines, Samoa, Seychelles, Sierra Leone, Swaziland, Tanzania, Thailand, Timor Leste, Tonga, South Africa, Zambia, Lao PDR, The Republic of the Union of Myanmar, Malaysia, Vietnam