The Fight against Corruption, Terrorism Financing and Financial Sanctions formed the focus of a recently concluded two-day conference in Bahrain organised by BNP Paribas Regional Compliance in conjunction with Clifford Chance.
The focal point of the seminar was to cover various aspects relating to Anti-money laundering. Prominent among the speakers at the conference included legal experts, part of the international Anti-corruption Law group, Lawrence Kooy from BNP Paribas Paris, David Dibari - Clifford Chance, Washington DC and Graham Lovett - Clifford Chance, Dubai conducted the presentations based on their analysis and comparison of the European, French and Local GCC regulations. They also provided details on the implementation of these regulations and discussed real examples.
Compliance is a vital aspect and BNP Paribas is actively involved in conducting regular training sessions and compliance awareness among staff which forms an integral part of an efficient Compliance Organisation. In conjunction with Clifford Chance it was extended further, to include GCC Central Banks, the FIU’s (Financial Intelligence Unit), the French economic missions, Audit firms, few of the Bank’s clients and Compliance Officers from other Banks.
The sessions were followed by an internal training session for BNP Paribas staff that focused on the implementation of these regulations through BNP Paribas internal policy and procedures.
BNP Paribas has been operating in the Gulf for over 34 years with a presence in five Gulf countries (Bahrain, United Arab Emirates, Qatar, Kuwait and Saudi Arabia). The teams also cover Oman and Yemen.
BNP Paribas in the region accounts for approximately 420 employees, working for the three core business lines of the Group. The Regional Management is based in Bahrain which is the regional hub for BNP Paribas in the Gulf.
BNP Paribas, one of the world's largest banks, has a sizeable presence in the Middle East region. With its full commercial branch, an offshore banking unit (OBU), a representative office and an Islamic banking unit, BNP Paribas is a leading player in the Gulf Cooperation Council (GCC) region from its Bahrain hub.
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, and ranks among the world's top 15 banks by market capitalization and total assets. It has more than 140 000 employees, 110 000 of whom are based in Europe. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets.
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