Morocco signs anti-money laundering convention

Abdelilah Benkirane Rabat – Rachid Bougha The Moroccan government has signed an Arab Convention to combat money laundering and terrorism funding.Mustapha El-Khalfi, Morocco's Communications Minister and government spokesperson, declared in a press conference after the session in Rabat that the convention was signed by the Arab ministers of justice and the interior in Cairo on December 21, 2010. It obliges signatory states to take preventative legislative measures against money laundering and terrorism funding.
“It will come into force 30 days from the date of ratification or accession by seven Arab states.”
The minister said that the convention also aimed at dangers to plans for economic development and investment efforts, as well as political and economic stability.
El-Khalfi also explained that the government had agrred to establish the International Anti-Corruption Academy, which was signed in Vienna on September 2, 2010.