To: All Licensed Banks/ NonBank Financial Institutions/ Money Exchange Companies operating in the Sultanate of Oman

Subject: Combating Terrorist Financing

After Compliments,

1. As licensed institutions are aware, Financial Action Task Force (FATF), in which GCC countries have collective membership, has expanded its mission beyond money laundering and adopted eight special recommendations on Terrorist Financing. The recommendations commit members to:

   • Take immediate steps to ratify and implement the relevant United Nations instruments.

   • Criminalise the financing of terrorism, terrorist acts and terrorist organizations.

   • Freeze and confiscate terrorist assets.

   • Report suspicious transactions linked to terrorism.

   • Provide the widest possible range of assistance to other countries’ law enforcement and regulatory authorities for terrorist financing investigation.

   • Impose antimoney laundering requirements on alternative remittance system.

   • Strengthen customer identification measures in international and domestic wire transfers.

   • Ensure that entities, in particular nonprofit organizations, cannot be misused to finance terrorism.