Thursday, 19 October, 2017

Head of FID's Message

Kingdom of Bahrain has a low level of domestically generated criminal proceeds and therefore believes that the greatest risk of Money Laundering is related to foreign proceeds that might transit through Bahrain. The attraction of Bahrain as an international business and financial center evokes particular challenges. Bahrain’s FID has learned how to deal with a situation where the investigation must start with the detection of suspect money in order to determine the illegal origin

Bahrain FID has been established according to Decree Law No 4 for the year 2001 with respect to prohibiting and combating Money Laundering, which provided in its first article the definition of the implementation directorate, as the charge of implementing the provision at this law.

Moreover, Bahrain FID is the Anti Money Laundering and Terrorist Financing enforcement directorate in the Kingdom of Bahrain, Which is responsible for receiving requests, analyzing and discriminating to the detection and supervising authorities and disclosure of financial information concerning suspected proceeds of crime and alleged Money Laundering.

Since then, The FID has examined the reporting entities, STR's and IT programs by relying on specialized IT tools such as the I2 software and ensure that our database programs are developed to address our growing needs. Our staffs have become more experienced and familiar with methods of analyzing STR's. FID performs a significant role in meetings which held by the committee to draw-up policies for prohibition and prevention of Money Laundering and Terrorist Financing by studying the amendment of the Anti Money Laundering and Terrorist Financing. Furthermore, the FID is playing an important role in terms of cooperation and coordination with MLRO's in the domain of prohibiting and preventing Money Laundering and Terrorist Financing.

Mai Mohammed Al Khalifa
Head of Bahrain Financial Intelligence Directorate

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