Almotamar.net, Saba - The Parliament's Speaker Yahya al-Rae'i affirmed on Sunday the parliament's keenness to enhance the system of laws on combating money laundering and terrorism financing.

In the consultative meeting for activation of the law against money laundering and terrorism financing, organized by the Studies and Economic Media Center (SEMC) in cooperation with the Middle East Partnership Initiative (MEPI), the lawmakers discussed mechanisms to make active the law against money laundering and terrorism financing.

Al-Rae'i explained at the opening of the meeting that the parliament is well aware of the size of the damages due to crimes of terrorism in Yemen.

Yemen has sought to combat this phenomenon through joining to the international conventions and protocols on the fight against terrorism and terrorism financing and the law against money-laundering and terrorism financing, al-Rae'i noted adding that Yemen has taken a number of precautionary measures in this aspect.

For his part , Head of the SEMC Mustafa Nasr commended the parliament' role in issuing the law against money-laundering and terrorism financing ,reviewing the risks of money-laundering ,which do not stop at the financial institutions, but also go beyond to various activities as tax evasion and corruption.

"The money-laundering phenomenon threats the economic security of the country, as it makes imbalances in the national income and currency manipulation and others", said Nasr explaining that the laundered money from criminal acts and illegal trade forms a threat to the natural growth of the economy.

"We count on the parliamentary oversight, as the parliament is the highest watching body, through which we seek to strengthen the control role of the various official agencies", he said.

Nasr pointed to a number of challenges facing money-laundering fighters, affirming that the center, through this program in cooperation with the MEPI, would work to qualify anti-money laundering departments in banks and financial institutions as well as the institutions concerned with the implementation of the law during the coming days.

During the meeting, a number of experts in combating money-laundering and terrorism financing reviewed mechanisms that can be taken to strengthen the fight against money-laundering.

In light of the debates, the parliamentarians recommended the quick issuing of the regulations of the law against money-laundering and terrorism financing and prompting the social awareness on the crimes of money-laundering and terrorism financing and involving the civil society in the promotion of law and control over the law implementation.