Financial services provider Tanmeyah has announced its decision to sign a certification agreement with COFICERT France in order to obtain AML 30000 certification. Following this announcement, with the backing of the International Group for Sustainable Finance (IGSF), this agreement will give Tanmeyah the possibility to solidify its position in the microfinance sector in the region.

The strategy will also optimise the company’s AML/CTF framework while reinforcing its commitment to responsible financial practices as well. Furthermore, Tanmeyah will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement The AML 30000 certification is an international standard that focuses on anti-money laundering (AML) and counter-terrorism financing (CTF) compliance.

It also serves as a valuable complement to government regulations and laws, fostering a more secure and resilient financial ecosystem both internationally and domestically. Microfinance institutions serve as a vital component that connects the private sector and civil society, providing individuals and communities with financial inclusion and an improved experience. By offering access to essential financial solutions, microfinance enterprises contribute to poverty reduction.

With this in mind, is it imperative that MFIs implement optimised AML and CFT measures, as the operational context of microfinance institutions exposes them to heightened risks and challenges. By adhering to AML practices, Tanmeyah is expected to continue to build trust with its clients, investors, and regulatory bodies. At the same time, it will focus on protecting the vulnerable individuals that the company serves, as well as preventing exploitation and upholding a high ethical standard in its operations.

If compliance is revealed during the evaluation, Yanmeyah is set to be granted a three-year certificate of conformity, which will remain subject to annual follow-up evaluations. This will allow the company to join the ranks of certified institutions committed to best AML/CTF practices, and optimise the customer experience in Egypt and in the region. .