Amal Express supports and implements an Anti-Money Laundering/Combating Terrorist Financing (AML/CTF) Compliance Program.

AMAL Express, and indeed other Somali Remittance Companies are facing critical challenges, specifically since September 11,2001. Somali Remittance Companies are presently operating in a country without effective national government, a financial regime and formal arrangements, either political or financial, while still operating with the rest of the world.

AMAL Express has embarked on a number of strategies to address the challenges affecting the remittance sector. AMAL Express is a member of the Somali Financial Services Association (SFSA), an association developed to embark on, amongst others, the process of self-regulation in the sector.

Each company within AMAL Express will adopt an Anti-Money Laundering Compliance Program and develop written procedures designed to implement this program. This program address the following issues:

AMAL’s policy in respect of Anti-Money Laundering;

• Customer Identification and Verification
• Record keeping
• Account monitoring and Suspicious Transaction Reporting
• The role of the Money Laundering Reporting Officer/Compliance Officer
• Training of employees
• Independent review of its Anti-Money Laundering program.