Afghanistan Banks Association

د افغانستان د بانکونو ټولنه
Afghanistan Banks Association
Voice of The Banks

Afghanistan Banks Association

ABA Conducts GRC Committee Meeting

Date: July 30, 2019

In today’s globalization, risk mitigation and risk control, compliance with banking law, AML CFT/ Others and corporate governance plays significant role in viability as well as growth of banking and overall business sector in the countries. In order to be in compliance with local as well as international rules and regulations, adopt international best practices and strengthen internal control of the banking sector, ABA formed GRC Committee to support the three areas withing the banking sector of Afghanistan. The Committee is a suitable platform to harmonize professional efforts, address challenges and raise banks voice with DAB, government high authorities/ non-government forums for improvement of current scenario and safeguarding banks.
In this respect, on July 30, 2019, ABA conducted Governance, Risk and Compliance (GRC) Committee meeting at ABA Office. The meeting was attended by Banks Chief of Compliance, Risk and ABA Representative.
Agenda:
1. Approval of the meeting minutes from the GRCC meetings
2. Review and update of GRC Charter.
3. Selection of new GRC Members.
4. Feedback on the new DAB circular on customer protection/other regulations
5. Updates on Meeting with USD Treasury Department,
6. LCTR reporting to FinTRACA.
7. ACAMs certification for compliance department staff of the banks as per DAB instruction
The meeting was chaired by Ms. Ewa Chairperson of GRC Committee. At the beginning she asked Mr. Edrees Alimy ABA Senior Research and Communication Officer to update members on the last GRCC meeting decisions and ABA follow up. Mr. Alimy briefed participants on ABA actions/follow up in every agenda points and the output. Further, the TOR of GRC Committee was reviewed, some recommendations purposed for amendments by the members and it was agreed that ABA should share TOR with member banks for their review and comments. It is agreed that, in order to address banks issues on LCTR reporting, FTT and ACAMS certification, ABA should arrange an official meeting with the FintRACA and FSD-DAB, where compliance, Risk and IT authorized officials should attend. In that meeting banks problems will be discussed and recommendations shall be purposed to DAB for consideration. In the GRC meeting, executive of Risk and Compliance were encouraged to review DAB eight regulations, which were shared with them by ABA. The other agenda points discussed in details and certain decisions was taken. At the end, Ms. Ewa thanked ABA for arrangement of the meeting and its contribution with the banking sector.