Publication:
Arab Republic of Egypt : Detailed Assessment Report on Anti-Money Laundering and Combatting the Financing of Terrorism

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-03-14T18:49:26Z
dc.date.available2013-03-14T18:49:26Z
dc.date.issued2009-05
dc.description.abstractThis assessment of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of the Arab Republic of Egypt (Egypt) is based on the Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2001 of the Financial Action Task Force (FATF), andwas prepared using the AML/CFT assessment Methodology 2004, as updated in February 2008. The assessment team considered all the materials supplied by the authorities, the information obtained on site during their mission from 12 to 26 October 2008, and other verifiable information subsequently provided by the authorities. During the mission, the assessment team met with officials and representatives of all relevant government agencies and the private sector. A list of the bodies met is set out in Annex 1 to the detailed assessment report. The assessment was conducted by a team of assessors composed of staff of the World Bank and two experts acting under the supervision of the World Bank. The evaluation team consisted of: Latifah Merican Cheong (Team leader); Cedric Mousset (co-team leader and financial expert), Stuart Yikona (legal expert); and Isaku Endo (financial expert), all from the Financial Market Integrity unit (FPDFI) and Horst Intscher (FIU expert, Consultant) and Younus Almoalem, (Law enforcement expert, Consultant). The assessors reviewed the institutional framework, the relevant AML/CFT laws, regulations, guidelines and other requirements, and the regulatory and other systems in place to deter and punish money laundering (ML) and the financing of terrorism (FT) through financial institutions and Designated Non-Financial Businesses and Professions (DNFBP). The assessors also examined the capacity, implementation, and effectiveness of all these systems. This report provides a summary of the AML/CFT measures in place in Egypt at the time of the mission or shortly thereafter. It describes and analyzes those measures, sets out Egypt s levels of compliance withthe FATF 40+9 Recommendations (see Table 1) and provides recommendations on how certain aspects of the system could be strengthened (see Table 2). The report was produced by the World Bank as part of the Financial Sector Assessment Program (FSAP) of Egypt. It was also presented to the MENA FATFand endorsed by this organization at its plenary meeting in Bahrain on 19 May 2009.en
dc.identifierhttp://documents.worldbank.org/curated/en/2009/05/16447890/anti -money-laundering-combating-financing-terrorism-vol-1-1
dc.identifier.doi10.1596/12733
dc.identifier.urihttps://hdl.handle.net/10986/12733
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO BANKING
dc.subjectACCESS TO FINANCE
dc.subjectACCESS TO FINANCIAL SERVICES
dc.subjectACCOUNTABILITY
dc.subjectADMINISTRATIVE CONTROL
dc.subjectADMINISTRATIVE COSTS
dc.subjectAGRICULTURAL CREDIT
dc.subjectANTI-CORRUPTION
dc.subjectANTI-MONEY LAUNDERING
dc.subjectANTICORRUPTION
dc.subjectAPPOINTEES
dc.subjectASSETS
dc.subjectBALANCE SHEET
dc.subjectBANK ACCOUNTS
dc.subjectBANK ASSETS
dc.subjectBANK DEPOSITS
dc.subjectBANKING INDUSTRY
dc.subjectBANKING INSTITUTION
dc.subjectBANKING LAW
dc.subjectBANKING RELATIONSHIPS
dc.subjectBANKING SECTOR
dc.subjectBANKING SERVICES
dc.subjectBANKING SUPERVISION
dc.subjectBANKING SYSTEM
dc.subjectBANKS
dc.subjectBEST PRACTICES
dc.subjectBRIBERY
dc.subjectBRIBERY CASES
dc.subjectBROKERAGE
dc.subjectBROKERAGE ACTIVITIES
dc.subjectBROKERS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCASH ECONOMY
dc.subjectCASH PAYMENTS
dc.subjectCASH TRANSACTIONS
dc.subjectCENTRAL BANK
dc.subjectCHAMBER OF COMMERCE
dc.subjectCHECKS
dc.subjectCIVIL SERVANTS
dc.subjectCIVIL SOCIETY
dc.subjectCLEARING HOUSE
dc.subjectCOLLECTIVE INVESTMENT
dc.subjectCOMMERCIAL LAWS
dc.subjectCOMMERCIAL REGISTRY
dc.subjectCORRUPTION
dc.subjectCORRUPTION PERCEPTION
dc.subjectCORRUPTION PERCEPTION INDEX
dc.subjectCREDIT BUREAU
dc.subjectCREDIT REGISTRY
dc.subjectCREDITOR
dc.subjectCREDITOR RIGHTS
dc.subjectCREDITS
dc.subjectCRIME
dc.subjectCRIMINAL
dc.subjectCRIMINALS
dc.subjectCURRENT ACCOUNT
dc.subjectDEBIT CARD
dc.subjectDEBIT CARDS
dc.subjectDEBT
dc.subjectDEBTS
dc.subjectDEPOSIT
dc.subjectDEPOSIT TAKING INSTITUTIONS
dc.subjectDEPOSITS
dc.subjectDEVELOPMENT BANK
dc.subjectDIVERSIFICATION
dc.subjectDRUG TRAFFICKING
dc.subjectDUE DILIGENCE
dc.subjectE-BANKING
dc.subjectEARNINGS
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectEMBEZZLEMENT
dc.subjectEMPLOYEE
dc.subjectENABLING ENVIRONMENT
dc.subjectENFORCEMENT AGENCIES
dc.subjectETHICS
dc.subjectEXCHANGE RATE
dc.subjectEXCLUSION
dc.subjectEXPLOITATION
dc.subjectEXTERNAL DEBT
dc.subjectEXTORTION
dc.subjectEXTRADITION
dc.subjectFINANCE COMPANIES
dc.subjectFINANCIAL CRIMES
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTELLIGENCE
dc.subjectFINANCIAL INTELLIGENCE UNIT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL SECTOR ASSESSMENT
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCIES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTMENTS
dc.subjectFOREIGN INVESTORS
dc.subjectFRAUD
dc.subjectGLOBAL ECONOMY
dc.subjectGOOD GOVERNANCE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOLDERS RIGHTS
dc.subjectHOLDING
dc.subjectID
dc.subjectINCOME LEVELS
dc.subjectINFLATIONARY PRESSURES
dc.subjectINFORMATION SERVICE
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINITIATIVE
dc.subjectINSIDER TRADING
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE INDUSTRY
dc.subjectINTEGRITY
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTEREST RATE
dc.subjectINTERNAL AUDIT
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINVESTIGATION
dc.subjectINVESTIGATIONS
dc.subjectINVESTMENT BANK
dc.subjectJOB CREATION
dc.subjectJUDICIAL INDEPENDENCE
dc.subjectJUDICIAL PROCESS
dc.subjectJUDICIAL REFORM
dc.subjectJUDICIAL SYSTEM
dc.subjectJUDICIARY
dc.subjectJUSTICE
dc.subjectJUSTICE SYSTEM
dc.subjectJUSTICES
dc.subjectLAND BANK
dc.subjectLAW ENFORCEMENT
dc.subjectLAWYERS
dc.subjectLEADERSHIP
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL PROVISIONS
dc.subjectLEGAL SYSTEM
dc.subjectLEGAL SYSTEMS
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLETTER OF CREDIT
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE COMPANIES
dc.subjectLOAN
dc.subjectLOCAL GOVERNMENT
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMIGRANT WORKERS
dc.subjectMINISTER
dc.subjectMINISTERS
dc.subjectMISAPPROPRIATION
dc.subjectMISAPPROPRIATIONS
dc.subjectMONEY LAUNDERING
dc.subjectMONEY MANAGEMENT
dc.subjectMONEY ORDERS
dc.subjectMONEY TRANSFER
dc.subjectMONEY TRANSFERS
dc.subjectMORTGAGE
dc.subjectMORTGAGE FINANCE
dc.subjectMUTUAL FUNDS
dc.subjectMUTUAL LEGAL ASSISTANCE
dc.subjectNET WORTH
dc.subjectNON PERFORMING LOAN
dc.subjectNONPROFIT ORGANIZATION
dc.subjectNPL
dc.subjectOIL BOOM
dc.subjectOIL PRICES
dc.subjectOPERATIONAL INDEPENDENCE
dc.subjectPENALTY
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPEOPLES
dc.subjectPERCEPTION OF CORRUPTION
dc.subjectPOLICE
dc.subjectPOLICE OFFICERS
dc.subjectPOLITICAL STABILITY
dc.subjectPOST OFFICE
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE EQUITY
dc.subjectPRIVATIZATION
dc.subjectPROPERTY RIGHTS
dc.subjectPROSECUTION
dc.subjectPROSECUTIONS
dc.subjectPROSECUTOR
dc.subjectPROSECUTORS
dc.subjectPUBLIC FUNDS
dc.subjectPUBLIC OFFICIALS
dc.subjectPUBLIC POLICY
dc.subjectREAL ESTATE
dc.subjectRECEIPTS
dc.subjectREGULATORY FRAMEWORK
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRISK MANAGEMENT
dc.subjectRISK PROFILES
dc.subjectROBBERY
dc.subjectRULE OF LAW
dc.subjectSANCTIONS
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNT
dc.subjectSAVINGS ACCOUNTS
dc.subjectSECURITIES
dc.subjectSECURITIES INDUSTRY
dc.subjectSEIZURE
dc.subjectSMALL-SCALE ENTERPRISES
dc.subjectSMART CARD
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTOLEN FUNDS
dc.subjectSUPERVISION OF BANKS
dc.subjectSUPERVISORY AUTHORITIES
dc.subjectSUPERVISORY AUTHORITY
dc.subjectTAX
dc.subjectTERRORISM
dc.subjectTHEFT
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTREATIES
dc.subjectTRIAL
dc.subjectTRUSTEES
dc.subjectUNEMPLOYMENT
dc.subjectUNION
dc.subjectURBAN AREAS
dc.subjectVENTURE CAPITAL
dc.subjectVENTURE CAPITAL FIRMS
dc.subjectWIRE TRANSFER
dc.subjectWIRE TRANSFERS
dc.titleArab Republic of Egypt : Detailed Assessment Report on Anti-Money Laundering and Combatting the Financing of Terrorismen
dspace.entity.typePublication
okr.date.disclosure2012-06-29
okr.date.doiregistration2025-05-07T09:01:24.950787Z
okr.doctypeEconomic & Sector Work::Other Financial Sector Study
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2009/05/16447890/anti -money-laundering-combating-financing-terrorism-vol-1-1
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid242201468229752801
okr.identifier.externaldocumentum000425970_20120629105642
okr.identifier.internaldocumentum16447890
okr.identifier.report70691
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/06/29/000425970_20120629105642/Rendered/PDF/706910ESW0P1120Egypt0ForPublication.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryEgypt, Arab Republic of
okr.sectorPublic Administration, Law, and Justice
okr.sectorFinance
okr.themeTrade and integration :: Regional integration
okr.themeRule of law
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicPublic Sector Corruption and Anticorruption Measures
okr.topicPublic Sector Development
okr.unitFinancial Market Integrity (FFSFI)
okr.volume1 of 1
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