Podcasts about Gafi

Membro sénior de RENAMO tenta mediar a crise interna, no partido. Moçambique cumpre todas as exigências para sair da lista cinzanta do GAFI. Comunidade internacional preocupada com a suspensão de partidos políticos no Mali.

Moçambique: Falta de aviso prévio no encerramento de rádios revolta gestores, mas o MISA fala em alertas anteriores. Moçambique pode sair da "lista cinzenta" do GAFI, Governo afirma que cumpriu quase todas as exigências do organismo. Suspensão de lei americana que proibe suborno a governantes estrangeiros levanta receios em África. Alemanha: Na caça ao voto a guerra na Ucrânia é destaque.

Pour attirer les investissements étrangers dans ses mines ou ses infrastructures, la RDC s'est lancée dans une opération séduction, via les zones économiques spéciales, mais aussi par des tables rondes et des sommets, à Paris, à Berlin, ou en Afrique du Sud. Il s'agit de rassurer les entreprises locales sur le climat économique du pays. De notre correspondante à Johannesburg,Pour convaincre les investisseurs étrangers, les représentants congolais participent à des dîners d'affaires, comme dans cet hôtel chic du quartier de Sandton, à Johannesburg. « Le Congo a à donner, et l'Afrique du Sud a, aussi, à donner, estime l'un des invités, Daniel Bumba, gouverneur de la ville de Kinshasa. À côté des épicentres de la guerre au Congo, dans l'ensemble du pays, il y a la vie, la nécessité d'investir, et les investissements sont probants, et sont porteurs de croissance et de retours. »Croissance de 500 % par an en RDCPour certaines entreprises sud-africaines, l'aventure congolaise est déjà une réussite. « Si on ne s'étaient pas lancés à l'extérieur de l'Afrique du Sud, et en particulier en RDC, nous n'aurions pas atteint le niveau qui est le nôtre aujourd'hui, souligne Claire Clark de Nucleus mining logistics, une société qui propose des services de transports aux mines, notamment autour de Lubumbashi. Depuis 5 ans, notre entreprise connaît une croissance de 500 % chaque année. C'est beaucoup de travail, mais c'est vraiment enthousiasmant. »Relais pour l'économie sud-africaineDu côté des politiciens sud-africains, on estime aussi que l'Afrique du Sud, forte d'une grande expertise minière, a tout intérêt à trouver des relais de dynamisme à l'étranger. « Il est très important que nos entreprises cherchent des opportunités dans différentes zones du continent pour que l'on puisse croître tous ensemble, juge David Makhura, cadre de l'ANC. Nous subissons, ici, une énorme pression : le chômage est très élevé, tout comme les niveaux d'inégalités et de pauvreté. L'immigration nous pose aussi problème. Or, si les économies de ces autres pays ne fonctionnent pas bien et n'offrent pas d'opportunités, il est naturel que leurs habitants migrent pour aller là où elles se trouvent. »À lire aussiL'Afrique du Sud toujours plongée dans le chômage de masseProblème de gouvernance à réglerCependant, il n'est pas toujours facile pour la RDC de convaincre les investisseurs sur la gouvernance, comme l'a montré l'échec de l'appel d'offres autour des blocs pétroliers. « L'économie du pays repose, pour beaucoup, sur son secteur minier, admet Aurélien Mali, de l'agence Moody's. On peut donc observer de fortes capacités à attirer des investisseurs. Mais la RDC est pour le moment incapable de vraiment tirer la part qui lui est due. Avec le renforcement des institutions, il y a des chances, dans le futur, que le peuple congolais puisse bénéficier d'un meilleur retour. »Le pays se trouve de plus toujours sur la liste grise du Groupe d'action financière (GAFI) qui lutte contre le blanchiment d'argent, ce qui peut aussi rebuter les investisseurs.À lire aussiSud de la RDC: des agents de la Gécamines dénoncent l'exploitation d'un gisement prometteur par une coopérative

Le Groupe d'actions financières a retiré, le 25 octobre 2024, le Sénégal de sa liste « grise » pour ses « efforts significatifs » dans la lutte contre le blanchiment d'argent et le financement du terrorisme. Un bol d'air pour l'économie ? Trois ans après avoir été placé sur liste « grise », le Sénégal n'est plus sous la « surveillance renforcée » du Groupe d'actions financières (Gafi). En 2021, Dakar avait été épinglé pour des « défaillances stratégiques » dans ses régimes de lutte contre le blanchiment de capitaux et de financement du terrorisme.L'organisme avait pointé des manquements dans des pans entiers de l'économie, de la construction à l'immobilier en passant par les casinos, notaires, avocats... Les entreprises et professions de ces secteurs étaient accusées de ne pas en faire assez pour dénoncer les opérations suspectes de fonds, et donc indirectement de favoriser le blanchiment d'argent.À l'époque, le Gafi avait préconisé la mise en œuvre de 49 recommandations. Trois ans plus tard, toutes ont transposé dans les textes sénégalais, avec notamment l'adoption en février 2024 d'une nouvelle loi sur le sujet. « L'esprit de cette loi est de combler les carences de la précédente législation pour se conformer aux recommandations du Gafi », détaille Moussa Sylla, spécialiste de la lutte contre le blanchiment d'argent.Les mesures permettent entre autres de mieux tracer les fonds suspects en limitant les recours aux prête-noms et prévoient des sanctions renforcées et ciblées – y compris pénales – contre les banques ou les institutions qui ne respecteraient pas leurs obligations.À lire aussiAntonio David (FMI): «Les mesures prises en Afrique vont considérablement réduire l'inflation»Recouvrement des biens illégalement acquis« Dès 2021, le Sénégal a voulu donner des gages sur sa volonté de lutter contre les sources illégales de financements, note Moussa Sylla. Cela passe notamment par la création en avril 2022 de l'Office national des recouvrements des avoirs criminels (Onrac). Dorénavant, les fonds des personnes soupçonnées de faire du blanchiment de capitaux ou du financement du terrorisme peuvent être récupérés et vendus aux enchères. C'est tout simplement ôter la possibilité aux criminels de profiter de leurs biens illégalement acquis. » Autre point, l'État a mis l'accent sur la formation et la sensibilisation des personnes chargées de faire appliquer la loi. Avec des résultats concrets : d'après la Cellule nationale de traitement des informations financières (Centif), les « ​​​​​​​déclarations d'activités suspectes » ont bondi de 145% en 2023.Retrouver la confiance des investisseurs« La sortie du Sénégal de cette ''liste grise'' est un élément extrêmement important en termes d'image, analyse Magaye Gaye, économiste et ex-cadre de la Banque ouest-africaine de développement et du Fonds africain de garantie et de coopération économique (Fagace). Cela permet de dire qu'on ne veut plus avoir mauvaise presse auprès des investisseurs et des bailleurs de fonds internationaux. » Les trois années de « ​​​​​​​surveillance renforcée » du Gafi ont en effet érodé la confiance des investisseurs. Une source au Centif, citée par le journal Le Monde, évoque un déclin du capital investissement de 6 à 7% depuis 2021.« Cette décision vient également contrebalancer les épisodes malheureux de dégradation de la note souveraine par les agences de notations, ajoute l'économiste (début octobre, Moody's abaissait la note du Sénégal à B1 et plaçait le pays « sous surveillance », NDLR). Elle réconforte enfin les nouvelles autorités qui prônent un discours de vérité auprès des instances internationales à l'heure où le pays a besoin de beaucoup de financements pour faire face à ses besoins sociaux et économiques. » La semaine dernière, le ministre des Finances, Cheikh Diba, confiait que le Sénégal cherchait à négocier un nouvel accord avec le Fonds monétaire international (FMI), le dernier remontant à 2023.À trois semaines des élections législatives, prévues le 17 novembre prochain, le président Bassirou Diomaye Faye et son Premier ministre Ousmane Sonko pourraient également profiter de l'annonce du Gafi pour étoffer leur premier bilan, même si la décision du Gafi résulte aussi des efforts engagés par leurs prédécesseurs.À lire aussiLe Sénégal cherche un nouvel accord avec le FMI

The Egyptian Stock Exchange is conducting a joint study with the GAFI to expand investment and tax incentives for listing and offering companies on the EGX.The Egyptian 5-year CDS rate fell during Tuesday's trading to 5.9%, compared to 6.365% in last Monday.The Suez Canal Economic Zone wants to set up a USD60 mn data center with a capacity of 5-7 MW in partnership with the private sector. A government source said that it remains unclear whether or not the blackouts will be returning as the Egyptian Electricity Holding Company is yet to receive a decision from the cabinet. The source pointed to a notable dip in energy consumption, and the government securing the needed LNG supplies to keep the lights on.Private equity firm SPE Capital plans to allocate 25-33% of its USD 350 mn SPE PEF III to Egyptian investments. The company plans to acquire stakes in 2-3 local companies, with an eye on export industries, financial services, and logistics. The fund should reach second close before the end of the year.Al Arabiya platform said that Egypt has formed an advisory council for economic development.Egypt's non-petroleum merchandise exports recorded about USD26.229 billion during the first eight months of the current year, an increase of USD2 billion, compared to the same period last year.The government has began taking the necessary steps to offer additional shares of EGCH (Kima) and EGAL on the EGX. The government announced a study to offer Delta Fertilizers shares on EGX. We updated our FV of CLHO to EGP9.00/share and maintained our OW recommendation. CLHO is currently trading at FY24 P/E of 13.2x.The EBRD is considering providing a EUR25 million guarantee to QNBE, with the aim of supporting its loan portfolio for SMEs, which is scheduled to be approved on October 22.An investment consortium that includes several companies, financial institutions, and banks, most notably Redcon Properties and SAUD, plans to establish a real estate investment fund in Egypt with an initial size exceeding one billion Egyptian pounds.RAYA's Aman Consumer Finance issued EGP1.29 bn in securitized bonds. 

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L'ex-gouverneur de la Banque centrale doit être de nouveau entendu ce jeudi par un juge. Arrêté le 3 septembre, Riad Salamé est accusé de détournements de fonds. Certains experts redoutent une manœuvre politique pour donner des gages à la communauté internationale. La justice s'intéresse à une série des contrats signés avec une société de courtage libanaise, Optimum Invest, autrefois dirigée par un membre de sa famille. Entre 2015 et 2018, 45 transactions sont jugées suspectes. D'après certaines informations, l'un des comptes utilisés pour les opérations d'Optimum aurait permis à Riad Salamé ou à ses proches de toucher plus de 40 millions de dollars de commissions.Mais, les contrats avec la société de courtage - d'un montant total de 8 milliards de dollars - auraient également pu servir à générer de faux profits. « Le plus vraisemblable est que cet argent a été utilisé pour maquiller les comptes de la Banque du Liban et ses pertes », estime l'avocat fiscaliste Karim Daher.Montages financiersÀ partir de 2016, alors que le Liban est en manque de liquidités et que les réserves de la banque centrale sont dans le rouge, Riad Salamé est soupçonné d'avoir initié des montages financiers complexes et frauduleux pour masquer les pertes de la Banque du Liban, et ainsi garder la confiance des investisseurs.« Riad Salamé avait mis en place un système très opaque d'ingénieries financières qui consistait à gagner du temps, à attirer des fonds de l'étranger, à les rémunérer avec des taux d'intérêts exorbitants, explique Karim Bitar professeur de relations internationales à l'université Saint Joseph de Beyrouth. Mais il est arrivé un moment où la chute de la confiance a provoqué celle de tout le système bancaire libanais ».L'effondrement du système va précipiter le Liban dans l'un des pires crises de l'histoire. Depuis 2019, la monnaie nationale a perdu plus de 98 % de sa valeur face au dollar. Ce lundi, symbole de la colère de la population contre Riad Salamé, une trentaine de manifestants attendaient l'ex gouverneur de la Banque centrale devant le palais de Justice.La fin de l'impunité au Liban?L'arrestation de celui qui fut pendant trente ans gouverneur de la Banque centrale (1993-2023) suscite cependant des doutes auprès des experts car les peines encourues ne sont pas les mêmes selon les chefs d'accusations qui seront retenus contre lui. « Ce que nous craignons c'est que M. Salamé par un arrangement entre lui et la classe politique fasse en sorte de limiter les poursuites et le tour est joué. On dira aux déposants, et à la communauté internationale : "voilà on a lutté contre la corruption" ».« Beaucoup de Libanais craignent qu'on essaie de faire tomber Riad Salamé sur une affaire relativement mineure pour laquelle il pourrait écoper de trois à six mois de prison et d'une amende assez symbolique compte tenu de l'inflation et de la dévaluation de la livre libanaise, abonde Karim Bitar. M. Salamé pourrait ensuite s'en sortir, ce qui permettrait aux décideurs libanais, aux vrais dirigeants de la mafia de cet establishment, de donner l'impression à la communauté internationale que la justice a fait son travail ».L'arrestation de Riad Salamé survient à quelques semaines d'une réunion cruciale pour le Liban. Le Groupe d'action financière (GAFI) pourrait décider d'inscrire le pays sur la liste grise des États qui n'en font pas assez pour lutter contre le blanchiment d'argent.Mandat d'arrêt internationalRiad Salamé qui fait par ailleurs l'objet d'un mandat d'arrêt international, reste poursuivi dans au moins quatre pays européens dont la France. La justice allemande a de son côté annulé en juin dernier un mandat d'arrêt contre lui, sans pour autant boucler l'enquête à son encontre.Les États-Unis, le Canada et le Royaume-Uni ont imposé des sanctions économiques pour corruption contre M. Salamé, Washington estimant que ses « actions corrompues et illégales ont contribué à l'effondrement de l'État de droit au Liban ».À lire aussiL'ex-gouverneur de la Banque du Liban, Riad Salamé, arrêté à Beyrouth

The MPC will meet on Thursday, 5 September, to decide on key interest rates. We expect the CBE to keep the current rates on hold in its upcoming meeting on 5 September, with a potential rate cut in 4Q24, or - more conservatively - in 1Q25.Net foreign asset surplus expanded 3.5% to USD13.3 billion in July, up from USD12.9 billion in June.The government has purchased a “large volume” of fresh oil hedging contracts, Prime Minister Madbouly said.The government has stocked up on strategic reserves of essential commodities, and Egypt currently has a six-month supply of strategic reserves, according to Prime Minister Madbouly.The government is looking into introducing a number of incentives for tourism developers over the coming couple of years.Madbouly said that he hopes to see the initial phases of the implementation of cash-based subsidies at some point during the next fiscal year.The government has paid some EGP10 billion in overdue payments to pharma and medical supplies manufacturers over the last two months. An energy corridor connecting Egypt and Cyprus that would carry natural gas and renewable energy was discussed by Oil Minister and his Cypriot counterpart. The Trade and Industry Ministry launched a new online platform showcasing industrial investment offerings in partnership with EFIH.Chairman of GAFI said that Egypt aims to increase FDI above previous levels to reach about USD15 billion at the end of the current fiscal year 2024-2025.The German Development Bank approved financing worth EUR147 million for energy efficiency improvement projects in EgyptMinister of Petroleum and Mineral Resources said that the Sukari gold mine has produced 5.8 million ounces since the start of production.TMGH (FV: EGP75.00, OW) is undertaking the legal and technical procedures related to projects in Iraq.MBSC posted its financial results for 2Q24 with net profit soaring to EGP180.0 million (+314% YoY, +334% QoQ) mainly on a reverse of a financial obligation of EGP135.4 million after settling the contractual dispute with CCAP's subsidiary. 1H24 earnings surged 111% YoY to EGP221.5 million. MBSC is trading at FY24e PE of 8.8x and EV/EBITDA of 10.2x.SWDY (FV: EGP45.69, EW) did not sign any contracts regarding the execution of a big industrial zone in Iraq, according to a release sent to EGX.The government is considering a program to support steel rebar exports to African and Arab countries. The subsidy program is to include reducing production costs and manufacturing inputs, as per local media. A consortium of ORAS (FV: EGP344.18, OW), Hitachi, and French firm Colas Rail will develop Metro Line 1 under an agreement inked with the National Tunnels Authority. The project is to be financed by EGP10 billion from the Transport Ministry and EUR605 million from soft loans from international financial institutions, as per local media. Fertiglobe, ORAS (FV: EGP344.18, OW), and Scatec will receive usufruct rights in Ain Sokhna Industrial Zone to set up wind and solar power plants that will feed their green hydrogen plant.According to media, BINV plans to sell a 20-30% stake in its subsidiary, Gourmet, before the end of 2024.The FRA is studying the files of issuing three sukuk programs worth up to EGP12 billion.Sources confirmed the completion of the formation of the new Board of Directors of National Bank of Egypt and Banque Misr.According to local press, Basata Holding for Financial Payments, a JV between MTIE and BINV, wants to increase its stake in Jordanian bill payment provider MadfoatCom to 49%.According to local press, DSCW wants to complete its proposed acquisition of a controlling stake in Twin Top Real Estate Investment Company by the end of 3Q24.

Egypt is looking to attract some USD2 bn in foreign direct investment from EU countries in its industrial sector by the end of 2024. Also, Egypt seeks to increase its exports to the EU by 10% by the end of this year, rising from EUR11.5 bn in 2023, to EUR12.6 bn in 2024.The CBE sold EUR610 mn one-year treasury bills on Monday, with an average yield of 3.75%, which is 0.25% less than the previous bid of 4.00%.The government has approved a EGP7 bn of subsidized loans for pharma companies, offering them financing at an interest rate of 5-7% to help streamline meds production and secure necessary imports.State grains buyer GASC has purchased 280k tons of wheat in a tender that closed yesterday, locking in just c. 7% of the 3.8 mn tons it aimed to purchase.Egypt will set up a logistics zone in Rwanda, after the Rwandan side allocated the necessary land near its border with Tanzania. The move will help facilitate Egyptian companies' access to the Rwandan market.A government official said that Egypt's imports of Israeli natural gas increased by about 5% during August to about 890 mn cubic feet per day, compared to 850 mn cubic feet at the beginning of last July, pointing out that the coming weeks will witness an increase in the volume of imports to a level ranging between 920 and 950 mn cubic feet per day, which is determined in coordination between the two sides.CBE data revealed that the balance of bonds and sukuk issued abroad held by non-residents amounted to about USD29.8 bn by the end of 2023.GAFI has approached the final stage of allocating an industrial zone to a group of Chinese investors on the Mediterranean coast, to establish factories specialized in agricultural manufacturing, automobiles, spinning and weaving.ESRS received from the European Trade Commission on 8 August 2024 a Notice of initiation of anti-dumping investigations concerning imports of hot-rolled flat steel (HRC) originating in Egypt, India, Japan and Vietnam. The investigations are initiated based on a complaint submitted by the European Steel Association (EUROFER). This implies a significant risk on ESRS where two-thirds of the company's HRC exports are directed to European countries, representing around 14% of total revenues. SWDY denied rumors to change the company's listing currency in the EGX from EGP to USD.The Ministry of Local Development has shortened the procedures for obtaining building permits in the governorates to 8 steps instead of 15 procedures previously.MASR achieved solid 2Q24 sales of EGP6.0 billion, up 71.3% y/y and expectedly down 59.6% q/q following a strong 1Q24 that had been fueled by pre-devaluation demand. This brought 1H24 sales up 294.0% y/y to EGP20.9 billion.MASR established a real estate asset management subsidiary called Doors and is opening a branch in Saudi Arabia soon.The government is in talks with Eni to build a regasification unit, with investments of about USD150 million, in Damietta.The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for demand growth this year to 2.11 million barrels per day (bpd) in its monthly market report released on Monday.TCI Sanmar Chemicals expressed interest in establishing a new ethylene receiving and transport station at West Port Said Port, with an investment of USD150 million. COMI has acquired 45% of Global Corp securitization issuances, which amounts to EGP610 mn. Easy lease, Al Ahly Capital leasing arm, is planning to execute a capital increase plan of EGP350 mn over the next 2 years (as a first step towards a probable IPO by 2027).CICH can trade in carbon emissions reduction certificates in the voluntary carbon market after it got the greenlight from the FRA.The CBE is finalizing the technical infrastructure needed to allow mobile contactless payments. 

Elisa de Anda, presidenta del grupo de acción financiera internacional

-GAFI tendrá como presidenta a la mexicana Elisa de Anda Madrazo-Deslave en el Cerro Topo Chico dejan las fuertes lluvias en Monterrey-Israel pide a los residentes de en el sur de Gaza abandonen la zona-Más información en nuestro podcast  

Dans le Club Radio Monaco, Nathalie Michet reçoit Thomas Brezzo, élu Président du Conseil National de Monaco le 3 avril dernier à l'âge de 44 ans. Pour donner "un nouveau souffle" au mandat en cours, le successeur de Brigitte Boccone-Pagès entend, avant-tout, impulser des méthodes et des relations de travail plus fluides et efficaces au sein de l'institution. Il promet, en outre, de maintenir les priorités fixées par l'Union nationale lors des élections de 2023, en particulier sur les finances publiques. Selon lui: il faut faire rentrer des recettes supplémentaires et réduire les dépenses". À ce sujet, le nouveau Président s'engage à faire preuve de fermeté vis-à-vis du Gouvernement princier dont le premier projet de budget rectificatif doit être présenté dans les prochaines semaines. "Nous demandons des engagements précis sur plusieurs points dont la mobilité, le centre commercial de Fontvieille et surtout sur le plan triennal d'équipements (...) faute de quoi je demanderai aux conseillers de ne pas voter le budget" , prévient Thomas Brezzo. Dans le dossier Moneyval, extrêmement important pour l'attractivité de Monaco, le Président du CN reconnaît que les élus se préparent "psychologiquement et matériellement" à un éventuel placement de la Principauté sur la liste grise des pays déficients en matière de lutte contre la criminalité financière. "Tous les textes de loi nécessaires ont été voté pour éviter cela mais il y a du retard sur la mise en œuvre et l'effectivité " , résume le chef de l'assemblée monégasque. "Dans tous les cas, si on entre sur la liste grise du Gafi on fera tout pour en sortir le plus rapidement possible et préparer l'avenir" , assure Thomas Brezzo. Sur les questions de société, Thomas Brezzo estime que le Conseil National a le devoir de s'emparer du débat autour de l'IGV dont la pratique reste illégale à Monaco. "On ne peut pas échapper à cette question et être hypocrite au point d'accepter que des avortements soient pratiqués à quelques centaines de mètres de chez nous et que ce soit interdit en Principauté" , estime notre invité. Il ajoute: "le débat aura lieu, à charge ensuite pour le Gouvernement de prendre ses responsabilités" . Hébergé par Ausha. Visitez ausha.co/politique-de-confidentialite pour plus d'informations.

A presidential decree establishing the Supreme Council of Taxes was issued, Minister of Finance announced, to empower the private sector, stimulate investment, and encourage investors to expand their productive and export activities. The government agreed with manufacturers and merchants to start reducing commodity prices by about 15% and 20%, bringing the reduction to 30% after Eid al-Fitr. Some USD 2.8 bn worth of goods have been cleared from the country's ports thanks to the recent spate of foreign currency injections, Prime Minister said. Net FDI inflows declined marginally to record USD2.1 billion in 4Q 2023, compared to USD2.2 billion 3Q 2023.The head of the GAFI revealed that the authority is currently studying 4 applications filed to obtain the golden license for companies operating in various sectors, including a logistics company.Remittances inflows are reportedly still far from reaching their peak, as Egyptian expats increasingly return to using official channels to transfer money back to Egypt following the float of the pound, deputy CEO of the UAE's largest FX bureau and remittances company Mohammad Bitar said.The New and Renewable Energy Authority discussed allocating EGP3.7 billion to establish renewable energy projects in the new fiscal year 2024/2025, within the Authority's draft budget of EGP7.78 billion.Egypt aims to increase the quantities of natural gas imported from Israel by about 26% to reach 1.450 billion cubic feet per day during 1H 2025, up from about 1.15 billion cubic feet per day now.The Prime Minister directed companies and traders to reduce steel prices after the full release of goods and raw materials in ports.Cement producers started to re-price their products after the recent surge in mazut price by EGP1,500/ton to reach EGP7,000/ton. It is worth highlighting that around 30% of cement factories depend on mazut as a cheap source of energy. The head of the Cement Division of the Building Materials Chamber estimates the increase in production cost of cement not to exceed EGP100/ton post the mazut price increase.CIEB's board approved a proposal to pay out a dividend of EGP1.1456 per share instead of EGP2.47. The decision is yet to receive the go-ahead from the general assembly.NBE intends to exit 12 companies with expected proceeds of EGP4 billion. The bank will invest up to EGP5 billion during 2024 in new projects and expands some currently existing projects.The United Bank has arranged about USD100 million for importers since the CBE directed banks at the beginning of this month to secure foreign currency to import 17 goods, if they are present in Egyptian ports.CCAP's transportation subsidiary targets injecting USD200 million to establish, manage and operate two stations in Alexandria and Ain Sokhna. RMDA's BoD approved to increase its paid in capital by EGP1.12 million, bringing it to EGP387.23 million, to finance the second tranche of its ESOP program. 

Elisa de Anda Madrazo fue seleccionada para ocupar la presidencia del GAFI INM rescata a 101 migrantes de una casa abandonada en SonoraParlamento aprobó la legalización de la marihuana para consumo recreativo en AlemaniaMás información en nuestro podcast

Conocer la importancia de GAFI en la lucha contra el lavado de activos conlleva el entendimiento de los estándares internacionales más importantes en este ámbito. Diversas metodologías son expuestas por GAFI por ello conocer el alcance de estos documentos y los requerimientos para la mitigación son de suma importancia para la mitigación de riesgos de las jurisdicciones, así como del sistema financiero y de las actividades no profesionales designadas. – Acerca de la ponente, Carlos Alberto Pérez Macías – Abogado con 20 años de experiencia, dedicado a temas de Prevención de Lavado de Dinero, Compliance, Gestión de Riesgos, Fiscal y Corporativo, así como conferencista a nivel nacional e internacional. Abogado por la Universidad Latina, Especialidad en Derecho Fiscal por la UNAM, Especialidad en Prevención y Persecución de Operaciones con Recursos de Procedencia Ilícita por el INACIPE, Maestro en Derecho Fiscal por el Colegio Superior de Ciencias Jurídicas, Máster en Gestión de Riesgo y Máster en Gestión de Riesgos con Especialidad en Compliance: Fraude y Blanqueo de Capitales, estos últimos EALDE Business School.

President El-Sisi directed the government to take several urgent social measures, including: Raising all salaries for government employees by 50% at a minimum of EGP1,000 to EGP1,200 to reach EGP6,000.Meanwhile, the social package allocates EGP15 billion for increasing the salaries of doctors, nurses, teachers, and university faculty members.A15% increase in pensions for 13 million citizens at EGP 74 billion.A 15% increase in "Takaful and Karama" pensions at the cost of EGP 5.5 billion in FY2023/2024.GAFI has picked an Emirati consortium to take over the USD22 bn development of a plot of land in the North Coast's Ras El Hekma.The government is closing in on a combined USD12 bn in financing, with the IMF doubling the value of the package it had offered to USD 6bn and other, unnamed “development partners” contributing a further USD6 bn.The CBE and the government are studying new measures aiming at mitigating the pressure on the fx.The trade deficit narrowed by 23% YoY to USD36.9 bn in 2023.The Ministry of Transport plans to launch a global tender to international companies during 2Q2024 in preparation for negotiations with a number of international institutions to provide a soft loan worth USD1 billion to cover the foreign part of the second phase of the fourth line of the metro.The SC Economic Zone Authority board approved 5 new projects recently signed by the Authority, with a total investment of about USD335.5 million.CIEB (FV: EGP33.00, OW) released 4Q23 financial indicators where consolidated bottom-line stood at EGP1,354 mn (+4% q/q, +66% y/y), bringing FY23 bottom line to EGP5,166 million (+114% y/y). CIEB is currently trading at P/E24 of 5.6x (based on bottom line post minority and appropriations), and P/B24 of 1.8x on 2024 bottom line growth of 23% and RoAE of 35%.Sohoola Consumer Finance Company, Banque Misr subsidiary is negotiating with 9 local banks to obtain financing worth EGP900 million to support its portfolio.EAST (FV: EGP38.78, OW) released their full standalone financials for 2Q23/24 showing net profit of EGP1.77 billion (-12.4% YoY, +57.8% QoQ), bringing 1H23/24 net profit to EGP2.89 million (-16% YoY). EAST is currently trading at a FY23/24 P/E of 6.1x and an EV/EBITDA of 5.0x.Six desalination plants will be offered up to the private sector in June. The six plants would be the first phase of the government's plan to tender 21 plants in total.Wathba Petroleum Services Company, 50% owned by CCAP, issued a tender for building six warehouses for the storage and trading of Petroleum products in East Cairo with investments worth USD60 million.Egypt's iron and steel exports surged 65% YoY to USD2.33 billion in 2023. Air Arabia is launching three weekly flights between Cairo and Istanbul starting 2 April 2024.The FRA intends to grant Fawry Microfinance the license for SMEs Financing within days, according to local press.

*Key news articles for today*Planning Minister and Sovereign Fund of Egypt (SFE) Chair Hala El Said said that investors have 48 hours to submit their final bids for Wataniya.The government will finalize the 580-MW Gabal El Zeit wind farm stake sale before the end of March.The government is studying increasing the number of floors allowed for hotel buildings to expand the number of hotel rooms and units. The government's plan is to increase the number of tourists to 30 million by 2028. Thus, it needs to increase the number of hotel rooms from 220k currently to 400k rooms.The Ministry of Finance is planning to increase the tax exemption limit on intercompany transactions from EGP8 million to EGP50 million. Gulf of Suez Petroleum Company (GUPCO) targets investing USD586 million during FY24/25 and to increase its daily production rate from 66k bbl to 72k bbl of crude oil per day. The company plans to dig 12 wells.HSBC Bank Egypt has signed an agreement with GAFI to attract more foreign direct investments to Egypt.TMGH (FV: EGP42.95, OW) achieved FY23 sales of EGP140.0 billion, up 321.7% y/y. It is not clear if this EGP140.0 billion figure includes sales made for non-TMGH entities for which TMGH receives commissions.ORHD (FV: EGP20.38, OW) achieved FY23 sales of EGP18.6 billion, up 67.4% y/y.OCDI (FV: EGP37.56, OW) reported solid 4Q23 sales of EGP10.5 billion, up 10.2% y/y and down 10.1% q/q, bringing FY23 sales up 42.1% y/y to EGP30.3 billion. Sales exceeded our FY23 sales expectation of EGP24.8 billion. Our EGP37.56/share valuation conservatively assumes a FY24 sales projection of EGP27.3 billion, which, in light of actual FY23 sales of EGP30.3 billion, we expect to be exceeded, especially since we generally expect real estate sales to grow y/y in FY24, fueled by the current macro environment prompting people to resort to real estate as a store of wealth. We maintain our Overweight recommendation of OCDI based on our FV of EGP37.56/share.EMFD (FV: EGP5.66, OW) achieved FY23 sales of EGP30.2 billion, up 67.2% y/y.HELI (FV: EGP18.84, OW) plans to invest EGP3.0-4.0 billion in New Heliopolis over the next five years.EFIC released 4Q23 unaudited standalone results posting an increase of 77% YoY (+982% QoQ) in net profit to EGP347.9 million. So that FY23 net income increased by 19% YoY to EGP582 million. EFIC is currently trading at 2024e PE of 6.1x.SKPC's BoD approved a cash dividend distribution of EGP1/share, implying a dividend yield of 2.7%. In addition, it will distribute bonus shares at a ratio of 1:5. The BoD also approved the payment of USD180k towards the capital increase of the Egyptian Bioethanol Company, increasing the company's share to USD3.18 million which is 7.5% of the total issued capital.German conglomerate ThyssenKrupp will help revamp state-owned Delta Fertilizers and restart operations at its ammonia and urea factories under an agreement inked between the two. The plan is to boost production at both factories to their full capacity of 1.4k tons a day.ORAS (FV: EGP233.65, OW) declared an interim cash dividend of USD0.19/share (EGP5.88/share) for 9M23. Distribution date is February 22, 2024. Record date is February 15, 2024. This implies a dividend yield of 3.0% and payout ratio of 18.2%. Shareholders on the EGX will be paid in EGP at the USD/EGP exchange rate announced by the CBE on February 5, 2024.Contact Financial Holding is considering launching its operations in the UAE, mainly to serve Egyptian expats there.Samsung wants to increase its annual exports of locally made electronic devices, that currently amount to USD 700 mn, by 50% in the coming period.

Miséria no Exército pode comprometer luta contra terrorismo em Moçambique. Na Guiné-Bissau, principais partidos mobilizam-se numa frente única para "salvar a democracia". Moçambique está a trabalhar para sair da "lista cinzenta" do GAFI, mas é preciso fazer mais, diz analista.

Egypt's budget deficit rose to 5.51% of GDP between July and November 2024 from 3.37% during the same period last year.The Egyptian government has pledged to pay EGP 1.4 billion annually, covering the real estate tax for the industrial, poultry, and animal production sectors until the end of 2026.The Suez Canal Economic Zone (SCZone) has inked five framework agreements with private industrial players to invest c. USD 235 mn.Egypt's non-petroleum trade deficit declined by 22.6% to USD37.1 billion in 2023. Exports declined by 1.5% to USD35.3 billion, while imports declined by 13% to USD72.5 billion. The decline was a result of foreign currency scarcity.The government is preparing to launch a tender for the development of three projects in March, with investments that could amount to a combined USD610 mn.Following the meeting of the EU-Egypt Association Council, EU Commissioner said that their Economic and Investment Plan will mobilize EUR 9 bn to invest in “growth and jobs in Egypt in areas that are the most critical, food, water, energy for any sustainable economy,” The Higher Council for Investment is preparing a new incentives package to secure foreign currency to companies.GAFI is working on amending the regulations of the corporate law.SKPC 4Q23 unaudited financial indicators:  EGP3.5 billion in revenues (+21% YoY, +9% QoQ)  in 4Q23. Annual increase came due to a 26% YoY increase in USD to EGP exchange rate, despite a 7% YoY decline in global polyethylene prices. QoQ increase in revenues came despite a stable exchange rate and a 3% QoQ decline in global prices. Net profit recorded EGP645 million in 4Q23 (+ 31% YoY, +7% QoQ), which brought 2023 net profit up by 99% YoY to EGP2.5 billion. SKPC is currently trading at a 2024e PE of 8.0x. During its BoD meeting, SKPC postponed discussing the payment of USD180k towards the capital increase of the Egyptian Bioethanol Company.Egypt's fuel imports value reached USD12.6 bln in 2023 (-11% YoY).  Local production reached 74 mln tons including 28 mln tons of crude oil and condensates, 45 mln tons of natural gas and 1 mln ton of LPG. Egypt's petroleum products consumption declined by 2% during 2023 to 34.5 mln tons. Natural gas consumption declined by 1% to 46.4 mln tons. Total demand gap reached 6.8 mln ton. Urea and nitrate prices increased to EGP13,000/ton in January 2024, from EGP11,000/ton in the beginning of the month. The increase came as the local supply declined. We note that winter is the high season for fertilizers.EGBE (FV:EGP0.45, OW) 4Q23 net profit pre-appropriations recorded EGP367 million (+59% y/y, -6% q/q), bringing FY23 bottom-line to EGP1,414 million (+65% y/y). EGBE is currently trading at P/E24 of 5.4x and P/B24 of 0.9x.The bank will increase its issued and paid-up capital by EGP 500.5 mn through free shares, financed from its FY 2023 net income.CANA has provided the EGX with the required documents to proceed with its EGP400 mn capital increase (from EGP4.6 bn to EGP5 bn) through bonus shares, financed from the legal reserves and 2023 profits.MNT-Halan microfinance subsidiary, Tasaheel has issued EGP 3.8 bn worth of securitized social sustainability bonds(the first such bonds in Egypt and Africa). HRHO's fintech subsidiary valU and its majority-owned aiBank are set to roll out co-branded Visa credit cards for valU customers.The Trade Ministry has denied rumors that it is looking to cancel anti-dumping duties on reinforced steel coming from China, Turkey, and Ukraine. The anti-dumping duties in effect since 2017 were extended last June until 2027.The Ministry of Transport will hand over the second containers terminal “Tahya Misr 1” in Damietta port to Damietta Alliance Container Terminal Company.

En deux ans, le nombre de sociétés suisses inscrites en zone franche à Dubaï a augmenté de 30%. Au cœur de ce transfert d'activité, le commerce de pétrole russe. C'est ce que démontre l'ONG suisse Public Eye, qui a mené une vaste enquête sur « le grand jeu » mené par l'Emirat pour séduire les plus grands négociants d'or noir. Le premier atout de Dubaï est de ne pas appliquer de sanction contre Moscou, les sociétés dubaïotes ne sont donc pas tenues d'acheter du pétrole russe en respectant le « price cap », le prix plafond fixé par les occidentaux - 60 dollars pour le baril de brut, 100 dollars pour le diesel et le kérosène.Le deuxième atout de l'Émirat est sa politique fiscale. Le petit État reste imbattable en la matière, selon un rapport de l'ONG Public Eye. Les sociétés qui s'installent en zone franche et qui n'exercent pas d'activité directe dans le pays, sont exemptées d'impôts pendant cinquante ans. La place forte du négoce dubaïote, le Dubaï Multi Commodities Center (DMCC) garantit l'enregistrement d'une entreprise en deux semaines et les permis de séjour des nouveaux arrivants sont délivrés, eux aussi, en un temps record. Meilleure zone franche du mondeToutes ces facilités offertes par un Émirat par ailleurs régulièrement accusé de ne pas assez lutter contre le blanchiment d'argent -en 2022 le Groupe d'action financière (GAFI) a inscrit les Émirats arabes unis sur sa « liste grise » en raison des défaillances constatées dans le domaine- , ont sans doute contribué à la renommée du DMCC élue en 2023, pour la neuvième année consécutive, meilleure zone franche du monde, selon le prix du magazine FDI du Financial Times, comme le rapport Public Eye.Le troisième atout de Dubaï sont ses capacités portuaires. Certes, l'essentiel des barils russes achetés par sociétés immatriculées à Dubaï ne touchent pas le sol émirati, mais les infrastructures portuaires du pays sont de plus en plus sollicitées : les importations de produits pétroliers russes représentent aujourd'hui 10 % des activités du principal port commercial des Emirats, alors qu'elles étaient quasi inexistantes il y a un peu plus d'un an, selon la revue spécialisée MEES citée par Public Eye. Pour répondre à la demande, un nouveau terminal de stockage pétrolier doit d'ailleurs voir le jour.Dubaï a détrôné GenèveToutes les conditions étaient donc réunies pour que l'entrée en vigueur des sanctions contre la Russie attire de plus en plus de négociants enregistrés en Suisse vers les zones franches dubaïotes. D'autant que les filiales juridiquement indépendantes d'entreprises suisses établies à l'étranger ou les ressortissants suisses domiciliés à l'étranger ne sont en théorie pas soumis à la législation suisse. Un cabinet d'avocat cité par Public Eye confie recevoir une douzaine de dossiers par mois pour des demandes d'installation de la part de sociétés enregistrées en Suisse qui commercent du pétrole, mais aussi des minerais ou encore des céréales.En quelques mois, Dubaï est devenu l'épicentre du négoce de pétrole russe, aux côtés de Hong Kong, alors qu'avant la guerre, entre 50 et 60 % du pétrole russe était négocié depuis la Suisse, selon les estimations de l'ONG qui assure que six des dix plus gros acheteurs privés de brut russe, par voie maritime, sont aujourd'hui basés aux Émirats arabes unis.Les partenaires historiques des sociétés pétrolières russes telles que Rosneft, ont disparu du top 10 des acheteurs de pétrole russe. À la place, des sociétés au profil « totalement opaque » ont vu le jour, pour reprendre les mots de Public Eye.

The EBRD has opened talks with the SFE about investing in both United Bank and Banque du Caire but is still waiting for clarity over the size of the stakes the government is willing to sell.CBE is studying issuing the digital pound, in cooperation with the IMF and the World Bank, with the aim of boosting the country's digital transformation. GAFI will soon announce new free trade and industrial zones.Turkish textile manufacturer Küçükçalik Group is planning to start work on a USD500 million synthetic fibers factory in the Suez Canal Economic Zone (SCZone) in January, a move that could lower the country's annual import bill by USD1 billion.Prime Minister Moustafa Madbouly discussed what the government is doing to address the FX crunch. Steps have so far included investor incentives that aim to boost domestic manufacturing, exports, and FDI.The government will revive a year-old idea and start offering EGP1 bread loaves for non-ration card holders using prepaid cards starting January. There will not be a ceiling on the number of loaves that can be bought per person. South Korean trading company STX Corporation will work with the government to upgrade Gargoub port near Marsa Matrouh and establish an industrial-logistics zone in the area.Former world leaders and leading economists have signed a joint letter calling on oil-producing states to pay a USD25 billion levy to fund the loss and damage fund.We upgraded our fair value for EGAL to EGP77.75/share, up from EGP53.58/share, and maintained our Overweight recommendation. EGAL is currently trading at FY23/24e P/E of 6.6x and EV/EBITDA of 3.6x. ORAS (FV: EGP192.45, OW) reported 3Q23 results with net income attributable to shareholders decreasing 32.6% YoY to USD16.1 million in 3Q23, bringing 9M23 net income up 98.6% YoY to USD114.8 million. Three local and international consortia submitted their financial and technical offers to launch five solar power plants for water desalination on the North Coast. The competing entities are ORAS (FV: EGP192.45, OW) with undisclosed foreign entity, the Egyptian Platform with a Chinese entity, and SES with German Frenell, according to local media. EFIH is in talks to acquire two retail-focused digital payments companies. The first one was approved by the board earlier this month and is expected to wrap up by the end of the year. A second acquisition is currently under study and could be finalized during 1H24, according to local press.ETEL selected Raya Information Technology, a subsidiary of RAYA, to implement the second phase of Telecom Egypt's data hub.RMDA launched a new type 2 diabetes med called Gliptalina. It is expected to generate more than EGP20 million in revenues for the company in the first year.OPEC+ member states are meeting tomorrow to discuss how the cartel of oil-producing nations will respond to falling oil prices, decide on next year's production targets, and make a decision on whether to prolong production cuts. NUCA closed a EGP15.0 billion securitized bond issuance, the second and final issuance in its EGP30.0 billion program.Saudi grocer Panda (owned by Savola) is among three supermarket chains that are looking to purchase six stores from Alfa Market as it struggles with debts.Wizz Air is planning to offer daily flights between Sphinx International Airport and Abu Dhabi. 

The CBE's MPC is scheduled to meet on Thursday, 2nd November, to decide on interest rates. We expect the CBE to prefer to keep rates unchanged, until further notice, linking interest rate movement to any probable currency movement.The Cabinet said that the country's gas imports have fallen to zero from a previous 800 million cubic feet of gas per day, naming it as one of the main reasons for the worsening blackouts.GAFI handed out four golden licenses yesterday to Samsung (which will invest USD55 million in its new mobile phone assembly facility), Fayoum Storage and Warehouses Company, and EgyptSat Auto.Schneider Electric plans to inject EUR30 million into its Badr City factory until 2025.Government sources said that customs proceeds increased by about 57% YoY during 1Q FY23/24, recording about EGP15.3 billion.The parliament yesterday passed a government-drafted amendment to the VAT Act imposing an EGP0.50 VAT on all tobacco products. They also raised the price ceiling for all cigarettes packs, giving room for EAST to increase their selling prices, which is expected to happen soon. The amendment also gives room for selling prices to be raised by up to 12% annually for the next 5 years.OCDI's (FV: EGP37.56, OW) 9M23 sales increased by 67.8% y/y to EGP19.8 billion. Revenues recorded EGP5.0 billion in 9M23, up 6.8% y/y despite deliveries decreasing 11.9% y/y to 743 units. Net profit in 9M23 increased by 26.3% y/y to EGP547.6 million. We raised our FV from EGP23.30/share to EGP37.56/share.EKHO announced increasing its stake in AlexFert to 75.13% from 69.48% previously, through increasing its stake in Bawabet Al Kuwait Holding Company to 94.34% from 84.89% previously, for USD47.5 million.EFIC (FV: EGP55.59, EW) issued standalone results for 9M23. Net profit came in at EGP234 million, compared to EGP293 million in 9M22, down 20% YoY. Top line registered EGP1.520 billion compared to EGP1.238 billion in 9M22, up by 23% YoY. EFIC is trading at FY24 multiples (based on consolidated estimates) of P/E of 5.7x and EV/EBITDA of 4.8x. Ministry of Trade and Industry approved a 10% increase in cement quota for local producers during November to fulfill increasing demand, according to local media.The Kuwaiti sovereign wealth fund intends to acquire a share of ISPH through its investment arm in Egypt, Ekuity Holding, according to local media.Travco has seen cancellations for reservations through the end of the year reach 50% due to the war in Gaza.Accor plans to open seven new hotels in Egypt by 2027, adding 1.4k rooms to its portfolio.               The Middle East Logistics and Consulting Group, the agent of the German company Eurogate, is scheduled to inject USD500 million in investments into the Tahya Misr 1 container terminal project in Damietta Port after taking over its operation, according to local press.Weekly Commodities Update  |   | Last Price | WoW Change, % | Brent, USD/bbl | 90.5 | -1.8% | Diesel-HSFO Spread, USD/ton | 417 | -8.1% | Egypt Urea, USD/ton | 385 | -4.1% | Polyethylene, USD/ton | 1,040 | -1.0% | Polypropylene, USD/ton | 955 | -1.3% | Steel/Iron Ore Spreads, USD/ton | 337 | -1.0% | LME Aluminum Cash Price, USD/ton | 2,206 | 2.3% | Egyptian Retail Cement, EGP/ton | 2,210 | 10.2% | Steam Coal FOB Newcastle Australia, USD/ton | 135 | -2.0% | SMP, USD/MT | 2,659 | 3.9% | Last price may vary week over week in some indices due to time difference

The CBE's MPC is scheduled to meet on Thursday, 2nd November, to decide on interest rates. We expect the CBE to prefer to keep rates unchanged, until further notice, linking interest rate movement to any probable currency movement.The Cabinet said that the country's gas imports have fallen to zero from a previous 800 million cubic feet of gas per day, naming it as one of the main reasons for the worsening blackouts.GAFI handed out four golden licenses yesterday to Samsung (which will invest USD55 million in its new mobile phone assembly facility), Fayoum Storage and Warehouses Company, and EgyptSat Auto.Schneider Electric plans to inject EUR30 million into its Badr City factory until 2025.Government sources said that customs proceeds increased by about 57% YoY during 1Q FY23/24, recording about EGP15.3 billion.The parliament yesterday passed a government-drafted amendment to the VAT Act imposing an EGP0.50 VAT on all tobacco products. They also raised the price ceiling for all cigarettes packs, giving room for EAST to increase their selling prices, which is expected to happen soon. The amendment also gives room for selling prices to be raised by up to 12% annually for the next 5 years.OCDI's (FV: EGP37.56, OW) 9M23 sales increased by 67.8% y/y to EGP19.8 billion. Revenues recorded EGP5.0 billion in 9M23, up 6.8% y/y despite deliveries decreasing 11.9% y/y to 743 units. Net profit in 9M23 increased by 26.3% y/y to EGP547.6 million. We raised our FV from EGP23.30/share to EGP37.56/share. EKHO announced increasing its stake in AlexFert to 75.13% from 69.48% previously, through increasing its stake in Bawabet Al Kuwait Holding Company to 94.34% from 84.89% previously, for USD47.5 million.EFIC (FV: EGP55.59, EW) issued standalone results for 9M23. Net profit came in at EGP234 million, compared to EGP293 million in 9M22, down 20% YoY. Top line registered EGP1.520 billion compared to EGP1.238 billion in 9M22, up by 23% YoY. EFIC is trading at FY24 multiples (based on consolidated estimates) of P/E of 5.7x and EV/EBITDA of 4.8x. Ministry of Trade and Industry approved a 10% increase in cement quota for local producers during November to fulfill increasing demand, according to local media.The Kuwaiti sovereign wealth fund intends to acquire a share of ISPH through its investment arm in Egypt, Ekuity Holding, according to local media.Travco has seen cancellations for reservations through the end of the year reach 50% due to the war in Gaza.Accor plans to open seven new hotels in Egypt by 2027, adding 1.4k rooms to its portfolio.               The Middle East Logistics and Consulting Group, the agent of the German company Eurogate, is scheduled to inject USD500 million in investments into the Tahya Misr 1 container terminal project in Damietta Port after taking over its operation, according to local press.Weekly Commodities Update  |   | Last Price | WoW Change, % | Brent, USD/bbl | 90.5 | -1.8% | Diesel-HSFO Spread, USD/ton | 417 | -8.1% | Egypt Urea, USD/ton | 385 | -4.1% | Polyethylene, USD/ton | 1,040 | -1.0% | Polypropylene, USD/ton | 955 | -1.3% | Steel/Iron Ore Spreads, USD/ton | 337 | -1.0% | LME Aluminum Cash Price, USD/ton | 2,206 | 2.3% | Egyptian Retail Cement, EGP/ton | 2,210 | 10.2% | Steam Coal FOB Newcastle Australia, USD/ton | 135 | -2.0% | SMP, USD/MT | 2,659 | 3.9% | Last price may vary week over week in some indices due to time difference

En este webinario analizaremos algunas de las novedades, tendencias y acciones que vienen de la mano del esfuerzo del Grupo de Acción Financiera Internacional para la la actualización de la lucha global contra el lavado de dinero y otros crímenes financieros. Entre otros temas abordaremos la implementación de los estándares del GAFI para los Activos Virtuales y Proveedores de Activos Virtuales; la dirección del GAFI para mejorar transparencia corporativa y la necesidad de determinar los beneficiarios finales de las personas legales; y cómo ayudar a los países a interceptar y recuperar en forma eficiente los flujos de los dineros ilícitos, así como el foco en eficiencia que la 5ta ronda de evaluaciones de los países en sus estrategias de prevención, detección y control ALD/CFT. El webinario tendrá un enfoque en la situación de las medidas globales contra el lavado de dinero, la financiaión del terrorismo y la financiación de la proliferación de armas de destrucción masiva a escala global. Este webinar se aborda en profundidad en el Máster en Compilance de EALDE: https://www.ealde.es/formacion/compliance/master-online/ – Acerca del ponente, Gonzalo Vila – Gonzalo lidera las iniciativas de la Asociación de Especialistas Certificados en Delitos Financieros (ACFCS) para Latinoamérica. Es responsable de la expansión y posicionamiento de la asociación en el continente, de supervisar la certificación de ACFCS y de desarrollar productos y servicios para responder a iniciativas contra el delito financiero tanto en sector público como privado. También se desempeña como asesor independiente. Previamente, y durante 8 años, fue el Director de Operaciones para Latinoamérica de la Asociación de Especialistas Certificados en Antilavado de Dinero (ACAMS). Cuenta con la Certificación de Especialista en Delitos Financieros (CFCS) y la Certificación Investigador en Ciberdelito (CCCI). Expone frecuentemente en eventos internacionales y provee capacitación y asesoramiento en una gran variedad de temas incluyendo antilavado de dinero.

The government plans to implement some structural reforms in FY2023/24, including amending law no.3/2005 regulating M&As, announcing the tax policy for the next five years, and preparing a unified vision for start-ups, preventing conflict of jurisdictions between different entities.Egypt will likely have to spend USD29.2 billion on debt repayments in 2024, USD10 billion higher than our estimated bill in 2023 at USD19.3 billion.GAFI could start to issue silver licenses for local startups in 4Q2023 to help ease administrative hurdles. OPEC+ ministerial panel will meet on 4 October, with no policy tweaks or recommendations expected.Local importers are calling for tighter and wider-ranging restrictions on food export bans following the Trade Ministry's three-month ban on the export of onions going into effect.In a meeting between SCzone and local and international energy companies already operating in the country, 24 Japanese companies showed interest in investing in the zone, promoting investments in green fuels and renewable energy.ABUK (FV: EGP60.60, EW) approved in its latest OGM the dividends distribution of EGP7.00 for FY22/23, to be distributed on three installments: EGP2.00 on 26 October 2023, EGP3.00 on 28 December 2023, and EGP2.00 on 31 January 2024. However, this last distribution depends on the cash position of the company then. It is noteworthy that dividend yield for FY22/23 amounts to 10.4% and payout ratio to 72.2%. HRHO's consumer finance arm ValU has announced plans to launch in Jordan early 2024. ValU has excluded Saudi Arabia from its regional expansion plans due to market conditions and doubts over profitability.ADIB's micro-finance arm, Arzak, has received the FRA's approval to issue its first products, Murabha and Musharka.EAST (FV: EGP24.72, OW) decided that its previously announced dividends of EGP3.75 will be distributed over two tranches. The first tranche will be distributed on 28 October 2023 consisting of EGP2.00, while the second tranche consists of EGP1.75 to be distributed by December 2023. That entails a FY22/23 DPO of 109% (from the standalone earnings) and a DY of 16%.EFID secured a USD45 million loan from IFC to finance growth locally and regionally. The facility will have a tenor of eight years with a two-year grace period.ORWE (FV: EGP18.50, OW) BoD approved selling the company's stake in National Bank of Kuwait Egypt of 0.7%, and focus on activities related to the core business and divesting non-core investments.The Sovereign Fund of Egypt is preparing to list state-owned Midar (El Mostakbal Urban Development) on the EGX in 1H24. Midar is also reportedly negotiating to sell land to GCC investors, according to local media.Weekly Commodities Update  |   | Last Price | WoW Change, % | Brent, USD/bbl | 95.3 | 2.2% | Diesel-HSFO Spread, USD/ton | 443 | 4.2% | Egypt Urea, USD/ton | 423 | -1.7% | Polyethylene, USD/ton | 1,070 | 0.0% | Polypropylene, USD/ton | 968 | 2.1% | Steel/Iron Ore Spreads, USD/ton | 359 | 1.0% | LME Aluminum Cash Price, USD/ton | 2,331 | 5.9% | Egyptian Retail Cement, EGP/ton | 1,970 | -0.8% | Steam Coal FOB Newcastle Australia, USD/ton | 160 | 0.1% | SMP, USD/MT | 2,400 | 5.0% | Last price may vary week over week in some indices due to time difference

The central banks of the United Arab Emirates and Egypt agreed Thursday to a currency exchange deal. The Egyptian and Chinese central banks discussed a potential swap line during talks in Beijing last week, the CBE said Wednesday.Global index provider FTSE Russell said on Thursday it will add Pakistan and Egypt to watch lists for possible demotion in its equity index suites. The President announced that Suez Canal revenues stand currently at USD10 billion and are expected to exceed USD10.5 billion by the end of 2023.The budget deficit is expected to widen to 6.9% of GDP in the current fiscal year before narrowing to 4.7% by FY27/28, Finance Minister said.GAFI's CEO said on Saturday that FDI inflows climbed 10% YoY in FY22/23. GAFI plans to apply tax incentives for new projects starting November.GAFI is reducing the time needed for good customs release from 147 days to 14 days.The Minister of Planning announced that Egypt targets an annual sustainable growth rate of 7-8%.EBRD has cut its Egypt growth forecast for 2024 by 0.7% to 4.5%.The government will end scheduled power cut starting 10 October, according to local press.The Export-Import Bank of China is lending Egypt USD400 million to finance the third phase of the electric light rail train (LRT).GASC has bought 170k tons of wheat in an international tender on Wednesday.The Supply Ministry is working towards importing 200k tons of raw sugar in the coming months to maintain at least six months worth of supply in reserve.Trial operations of the electricity connection between Egypt and Saudi Arabia will start by the end of May 2025.We upgraded our FV to SUGR from a previous EGP45.0/share to EGP67.3/share with an Overweight recommendation. Our upgrade is mainly backed by the fast-paced rally in global sugar selling prices. SUGR's financial performance is highly correlated to sugar prices and the exchange rate. We expect a 2023 DPO of 50% and a DY of 13%. SUGR is currently trading at a FY24 P/E of 6.8x and an EV/EBITDA of 3.9x.The banking sector's net foreign assets deficit declined by USD360 million to reach USD25.9 billion last August.MICH OGM held on 26 September 2023 approved:Dividends distribution for FY22/23 with a DPS of EGP3.00/share. Dividend yield amounts to 9.3% and payout ratio is 40.36%. Distribution of stock dividends with a ratio of 1:2 along with the cash dividends. Approval of initiating a new company for chlorine granules production in cooperation with Egyptian Chemical Industries Holding Company and Cadence for Energy and Consultancy Company. Kima's (FV: EGP7.48, EW) BoD issued a correction for FY22/23 results: top line new figure is EGP6.612 billion instead of the previously announced EGP6.611 billion. Net profit amended figure is EGP1.151 billion instead of EGP1.196 billion.Oil output will likely remain unchanged amid an ongoing oil price rally when OPEC+ leaders meet on Wednesday. Brent crude closed at USD95.31/bbl last Friday. Oil Minister announced a plan to drill 110 exploratory oil and gas wells by 2030, with investments amounting to USD4.8 billion.ETEL announced that Medusa Submarine Cable System (which will land in Port Said in 2025) will be connected to the Red Sea landing stations of Suez, Zafarana, and Ras Ghareb through Telecom Egypt's extensive terrestrial crossing network.SPMD released 2Q23 consolidated financial results showing attributable net loss of EGP24.8 million compared to net loss of EGP36.1 million in 2Q22 and net loss of EGP24.2 million in 1Q23. Revenues came in at EGP14.1 million in 2Q23 (-15.0% YoY, -10.9% QoQ).RCare Fund is eyeing a new healthcare investment opportunity in Egypt, according to local press. 

Budget deficit increased to 6.26% of GDP in the first 11 months of FY22/23 to record EGP615.2 billion, compared to 5.50% of GDP in the same period last year.GAFI has approved GV Investments' ambitious 26k-feddan Tarboul industrial project in Giza. The project will require EGP500 billion (USD16.2 billion) of investments.The leaders of Brazil, Russia, India, China and South Africa are reportedly close to an agreement about inviting new member countries to join the BRICS. Companies have until 22 November to apply to set up a credit rating agency, with the FRA set to award a license to just one of the firms.The FRA is studying amending sukuk regulations to attract small issuances.The IFC expected that Egypt would lead African countries in the digital economy alongside Morocco, Nigeria, South Africa and Kenya by 2025.PHDC net profit in 2Q23 increased 34.9% y/y and 40.7% q/q to EGP355.4 million, bringing 1H23 net profit up 8.9% y/y to EGP608.1 million. 2Q23 sales reached EGP12.9 billion (150.4% y/y and 90.3% q/q) and bringing 1H23 sales up 84.0% y/y to EGP19.7 billion, supported by sales in Badya. Revenue in 2Q23 declined 16.0% y/y and 3.9% q/q to EGP3.4 billion, reflecting fewer delivered units and bringing 1H23 revenue to EGP6.9 billion, almost flat y/y. According to local media, ORHD is allocating 22k sqm to the medical space in O West, and negotiations with hospitals are underway.Israeli Energy Minister said that Israel will increase gas exports to Egypt from its offshore Tamar field. Israel will raise gas exports by an additional 38.7 billion cubic meters (bcm) over 11 years.The Ministry of Petroleum is preparing to offer 10 new oil and gas exploration concessions in the south.The EGX's listing committee has approved the delisting of the shares of IRAX.Aman Financial Services, a subsidiary of RAYA, plans to apply for a digital banking license from CBE, according to local press.CICH's micro-enterprise services company Reefy signed a financing agreement with the EBRD. According to it, a loan of EGP 200 million was obtained, with the aim of supporting entrepreneurs, young people in Egypt and financing their micro projects.The Egyptian National Railway Authority, of the Ministry of Transportation, to start executing the first phase of "Matrouh-Salloum" line (280 km long) in the beginning of next year with an estimated cost of EGP8 billion, according to local media. 

The cabinet approved draft legislation to give properties unique digital IDs.The cabinet also greenlit the suspension of the 14% agriculture land tax for an additional year starting from 1 August. The tax has been suspended since 2017.The government approved two presidential decrees allowing Egypt to join the African Development Bank's Africa50 for Project Development and Financinand Africa50 for Project Financing.India's Ocior Energy has inked preliminary contracts with the government to set up a USD4 billion green hydrogen plant in the Suez Canal Economic Zone (SCZone). Dana Gas expects to receive the Egyptian parliament's approval on its gas exploration agreement with state-owned EGAS this year.MNHD reported 2Q23 revenues in 2Q23 grew 22.3% y/y and 16.9% q/q to EGP1.2 billion, bringing 1H23 revenue up 23.4% y/y to EGP2.3 billion. Net profit in 2Q23 reached EGP275.9 million (+149.0% YoY, -9.4% QoQ), bringing 1H23 net profit up 151.0% y/y to EGP580.2 million. SPMD released 1Q23 consolidated financial results showing attributable net loss of EGP24.2 million compared to net loss of EGP38.4 million in 1Q22 and net loss of EGP53.3 million in 4Q22. Revenues came in at EGP15.8 million in 1Q23 (-76.9% YoY, +0.8% QoQ). SPMD is currently trading at 2023f P/E of 77.2x and EV/EBITDA of 16.1x.FAIT has released 2Q23 consolidated financial indicators where the bottom-line recorded EGP2.89 bn (+43.2% y/y, +32% q/q). The strong expansion is mainly attributable to the strong top-line growth (+32.4% y/y, + 150% q/q). Additionally, it could be also related to non-interest income growth, lower provisions, and lower taxes.Prime Holding's asset management arm Prime Investments has appointed Mohamed Kotb as its new CEO and managing director. EAST's CEO expects the cigarettes market to stabilize within 2-3 months. The company highlighted that there were no price increases from their side since March 2023, and the prices rally in the market is driven by the merchants, according to local media.A new company, Damietta Green Ammonia, was established virtually through the General Authority for Freezones and Investments' (GAFI).Travco Group plans to raise its hotel capacity by 18% to 20k rooms in the next two years. 

Some provisions of the customs law have been amended to facilitate customs release procedures under a decision issued by Finance Minister. The Supreme Council for Investments is studying offering more incentives to the industrial sector.GAFI will launch its new digital platform within days. The platform will provide investors with the services to establish companies, authenticate contracts at notary offices, and register using electronic signatures among other services.Mohamed Farid has been reappointed chairman of the Financial Regulatory Authority (FRA) for another one-year term.The government has denied rumors circulating that it has sold USD billions worth of assets owned by the Endowments Ministry.MFPC issued standalone results for 2Q23. Net profit after taxes amounted to EGP848 million (+3% YoY, -78% QoQ,), bringing 1H23 net profit to EGP4.776 billion, higher by 67% YoY. MFPC is trading at 2023 P/E 8.0x and EV/EBITDA of 4.0x.HELI could this month wrap up negotiations to partner with an unnamed Gulf investor on its Heliopark project, according to local media.HELI denied media reports that it intends to sell its Heliopark land plot to a local investor at a discount on a cash basis.HELI stated that it did not receive an offer regarding media reports that a Saudi investor is offering to acquire 70.0% of HELI for USD400.0 million.MNHD launched an R&D arm, Madinet Masr Innovation Labs, to provide digital solutions to the real estate market. The arm's first product, Touba, is a platform that offers customers solutions for purchasing and investing in real estate.MNHD plans to expand its project portfolio to the North Coast, the Red Sea Coast, West Cairo, and New Nasser in Upper Egypt, according to local media.Developers including Qatari Diar and Emaar Properties are in talks with GAFI on expanding their businesses in Egypt.MTIE announced increasing the company's issued capital EGP749 million, an increase of EGP149.8 million through the issuance of 241.7 million bonus shares (0.25 bonus share for each original share held). Record date is on 23 August 2023 and distribution date on 24 August 2023.GAFI has received 3 investment requests worth USD180 million to establish feeding factories in the electrical and home appliances sector.BTFH has received the greenlight from FRA to proceed with its acquisition of Minya-based microfinance provider Cash.CICH has closed an EGP700 mn securitized bond issuance for its micro-financing arm, Reefy Microfinance.Banque Misr is preparing to launch a new digital payments company in partnership with several financial institutions, including Banque du Caire.

Resumen de noticias de Bitcoin «El Bit», desde La librería de Satoshi, con la producción de Proyecto Bitcoin Preparan propuesta para legalizar Bitcoin en Bolivia  Curve recupera el 73% de los fondos robados en hackeo Bitcoiners europeos aún pueden desafiar la regla de viaje del GAFI, dice consultor regulatorio. Voltage y Human Rights Foundation ayudarán a ONGs a recibir donaciones en bitcoin.

Em Angola: Pedro Lussati pede ao parlamento para investigar o chefe da secreta. Moçambique corre contra o relógio para sair da lista cinzenta do GAFI. Golpe de Estado no Níger divide opinião pública nigerina.

Em Angola, foi aprovado na generalidade em finais de Maio o projecto de lei relativo ao estatuto das organizações não-governamentais, um projecto que tem gerado muita controvérsia, a sociedade civil considerando que este dispositivo visa limitar o seu direito de expressão e inclusivamente a sua própria existência. Ao longo destas últimas semanas, apesar de a sociedade civil ter reclamado a retirada deste projecto numa petição e também na rua, nomeadamente no passado dia 17 de Junho, este dispositivo continua em cima da mesa.Nesta quarta-feira, mais de cem ONGs do mundo inteiro, nomeadamente a Amnistia internacional e a Transparência internacional, publicaram uma declaração conjunta em que apelam o executivo angolano a recuar no intento de validar esta lei.Ao abrigo deste dispositivo está nomeadamente prevista a criação de um órgão directamente sob a alçada do governo cuja tarefa consistiria em controlar as ONGs angolanas, com a possibilidade de dissolvê-las sem sequer passar por um processo judicial.O primeiro de outros aspectos apontados nesta declaração que a RFI abordou com João Malavindele, director executivo da ONG angolana Omunga.RFI: Na sua declaração conjunta, as ONGs apontam a eventual criação de um novo organismo de supervisão das organizações da sociedade civil, dependente do governo, ao abrigo deste projecto de lei. Como reage a isto?João Malavindele: Ela é inconstitucional porque fere a própria Constituição, mormente no seu artigo 48° número 2, bem como fere a própria lei das associações privadas que existe até ao momento. Acho que as organizações não-governamentais, como o próprio nome diz, não devem ser tuteladas por um órgão do executivo ou um órgão administrativo. Quando isso acontece, deixa de ser sociedade civil ou organização não-governamental, podemos dar um outro tipo de nome. Isso é uma ingerência bastante grave que não se coaduna com aquilo que é a própria essência de organizações não-governamentais que surgem através de iniciativas de cidadãos que se juntam por uma causa. Eu acho que a lei das associações que existe até hoje é muito clara em relação a isso e a própria Constituição também. Quando se cria um organismo que é do executivo, isto não tem outro objectivo senão o de controlar e também de asfixiar as organizações não-governamentais.RFI: Há também outro aspecto: a imposição de requisitos onerosos de registo, inspecção e monitorização, assim como a obrigação para as Organizações não-governamentais de revelar as suas fontes de financiamento.João Malavindele: Isto é um artificio que se quer criar à volta de tudo isto porque todas as organizações que trabalham em Angola, que estão legalmente constituídas, todos os seus fundos, passam pelos mecanismos legais, estamos a falar do Banco Nacional e dos bancos privados que têm conhecimento da origem das fontes de financiamento das organizações não-governamentais. Até porque muitas das organizações internacionais que financiam as organizações não-governamentais nacionais, também financiam programas do Estado. Então, não há aqui problema e se houver necessidade de nós partilharmos isso, nós podemos partilhar mas desde que não seja uma imposição legal. Porque as organizações não-governamentais têm os seus órgãos sociais. São esses órgãos sociais onde essas organizações devem em primeira instância prestar contas de tudo aquilo que tem sido a sua actividade. Por isso é que nós consideramos essa proposta de lei inconstitucional porque viola os direitos dos associados, viola os direitos fundamentais dos cidadãos relativamente ao direito de associação.RFI: Além desse aspecto, o que também é apontado por estas organizações internacionais é o facto de se impor restrições ao financiamento de organizações ou indivíduos "envolvidos em actividades que actividades de ponham em causa interesses constitucionalmente consagrados", um conceito que segundo estas organizações é vago e pode, de certa forma, impedir a colaboração com organizações e parceiros internacionais.João Malavindele: O problema é que esta proposta de lei traz conceitos inacabados, não há precisão naquilo que aparece como proposta, o que é grave. Não podemos regular a vida associativa com frases ou conceitos inacabados. No fundo, o que o executivo quer é, através dessa proposta de lei, encontrar um dispositivo legal que visa atingir determinadas instituições ou organizações da sociedade civil e até pessoas com alguma exposição política e também na vertente de Direitos Humanos.RFI: Ainda nesta senda, o que também é apontado é a proibição do envolvimento das organizações da sociedade civil em actos que possam ser considerados "subversivos", o que segundo estas organizações também se pode traduzir por uma restrição da liberdade de expressão.João Malavindele: Claro! O que é um "acto subversivo"? Isso tem que ficar claro. Isso deixa uma brecha para que a dado momento, com a criação dessa instituição que vem regular as organizações, por seu livre arbítrio, vá interferir ou prender ou mandar fechar uma organização, a partir do momento em que ela entender que se envolveu em actos subversivos. O que é isto? É preciso que isto seja clarificado. A lei tem de ser clara e objectiva, o que não acontece com esta proposta de lei. Nós não podemos permitir que uma lei como esta possa entrar em vigor num Estado de direito democrático.RFI: Um dos argumentos utilizados para defender este projecto é que ele visa reforçar o cumprimento das recomendações do Grupo de Acção Financeira Internacional (GAFI) no tocante à prevenção do terrorismo e do branqueamento de capitais.João Malavindele: Essa é a grande questão. Parece-me que há aqui -não diria uma interpretação extensiva- mas há aqui uma interpretação cavilosa da parte do Estado angolano, porque a recomendação do GAFI, sobretudo na sua recomendação número 8, diz que é preciso que os Estados tenham em conta as organizações não-governamentais porque são susceptíveis de estarem envolvidas em actividades de branqueamento de capitais e financiamento do terrorismo. Mas no caso de Angola, nas avaliações que foram feitas até agora, Angola não está na linha cinzenta relativamente a essa matéria, porque primeiro nós temos leis que tratam dessa matéria, temos leis contra o branqueamento de capitais, temos outras leis avulsas que versam sobre essa matéria. Também não temos registo de organizações que estejam directamente ou indirectamente envolvidas em actos de terrorismo e branqueamento de capitais. Então, esta proposta de lei, o executivo angolano vê como uma oportunidade numa altura em que em Angola aumentou cada vez mais o nível de consciência dos cidadãos, fruto também do trabalho que as organizações têm vindo a desenvolver ao longo desses anos. Hoje a consciência cidadã é bastante elevada e o executivo não tem acompanhado quer com políticas de combate à pobreza e outras estratégias de governação, não tem estado a acompanhar essa evolução. Uma das formas que encontrou neste momento através das recomendações que foram feitas, é criar um dispositivo legal que visa manter esse controlo das organizações não-governamentais que estão na base também do aumento dessa consciência cidadã no sentido de que elas possam estar cada vez mais sob o controlo do executivo. Por isso é que eu acho que nós como organizações da sociedade civil, precisamos de começar a indagar essa instituição internacional que é o GAFI, no sentido de melhorar no diálogo com os Estados nesse caso, porque no fim das contas, nós é que vamos sofrer com essa má interpretação que o Estado angolano faz relativamente a essa recomendação 8 do GAFI.RFI: Tiveram algum tipo de diálogo com o executivo quando se preparou este pacote legislativo?João Malavindele: Nunca, em nenhum momento fomos consultados, em nenhum momento tivemos um encontro prévio relativamente a essa proposta. Quando nos apercebemos, o que fizemos, através do Grupo de Trabalho de Monitoria dos Direitos Humanos, submetemos uma petição à Assembleia Nacional para que não houvesse sequer discussão na generalidade desta proposta, como se essa proposta nunca tivesse existido. Mas infelizmente, não fomos tidos nem achados pela Assembleia Nacional e até hoje aguardamos uma resposta à nossa petição.RFI: Julga que há condições para eventualmente haver um recuo por parte do executivo?João Malavindele: Isso é que nós esperamos. Estou cada vez mais optimista e haverá um recuo por parte do executivo, porque acho que se assim acontecer, sairemos todos a ganhar como angolanos. Eu acho que o executivo angolano tem de se dar por satisfeito por existirem organizações que possam apontar de forma muito construtiva caminhos, aquilo que há de bom e de ruim na sua governação, e em conjunto podermos lutar para o crescimento e o desenvolvimento do nosso país. Não é possível fazer um processo como este e deixar de parte aqueles que são os principais visados no processo. Então, auguro que haja essa sensibilidade da parte dos deputados da Assembleia Nacional para que esta lei não seja aprovada.

Panamá, 28 de junio de 2023El Grupo de Acción Financiera Internacional (GAFI) hará una visita in situ a Panamá en septiembre próximo para confirmar los avances del país en la aplicación de las nuevas medidas para la prevención del blanqueo de capitales y el financiamiento al terrorismo, anunció la Secretaria Técnica de la Comisión Nacional contra el Blanqueo de Capitales el Financiamiento del Terrorismo y de la Proliferación de Armas de Destrucción Masiva, Isabel Vecchio Arófulo.Aparte de Panamá, el GAFI también otorgó la visita in situ a Albania, Jordania, e Islas Caimán y se espera que después de esta visita se dé la exclusión en la plenaria que se realizará en octubre de este año.Las declaraciones de Arófulo a este medio se dan luego de su participación en las reuniones ante el Grupo de Acción Financiera Internacional (GAFI), en París, Francia.¿Qué significa la visita in situ?Isabel Vecchio Arófulo explicó los detalles de la visita in situ del GAFI a Panamá. En esta visita vienen las personas que forman parte del grupo conjunto de las Américas que son técnicos que revisan los estándares internacionales que han verificado durante todo este tiempo desde el 2017 a la fecha el proceso de evaluación desde que fuimos incluidos en la lista.Estas personas verificarán la sostenibilidad de la implementación de todas las acciones que ha hecho Panamá, por ejemplo, que existe un registro de beneficiarios finales, que las autoridades competentes tienen acceso oportuno y probablemente quieran verificar cómo son las instalaciones."Hoy día tenemos instalaciones renovadas de una Superintendencia de Sujetos No Financieros y es probable que también quieran visitar esa institución", informó la vocera del MEF.Se trata de una visita que demora entre 3 y 4 días donde pueden hacer recomendaciones adicionales a Panamá. Salida de Panamá de la lista grisSi bien se espera que Panamá salga de la lista gris del GAFI, se debe tomar en cuenta que el país está en dos listas adicionales de la Unión Europea.Debido a ello, el Gobierno Nacional se encuentra en comunicación constante con los organismos internacionales para lograr la salida de estas listas.

Panamá, 2 de junio de 2023El Grupo Acción para la Igualdad Financiera Internacional (GAPIFI), un movimiento conformado por más de 50 profesionales busca apoyar a las autoridades para lograr la salida de Panamá de listas discriminatorias, así como exigir un trato igualitario al de otros países. El exviceministro de la Autoridad Marítima de Panamá y coordinador de este grupo, Carlos Raúl Moreno, mostró su preocupación por la cantidad de requisitos que se piden al territorio nacional."Hago un llamado al Gobierno Nacional a que comencemos a modificar los requisitos autoimpuestos referente a los registros contables. Nosotros venimos sospechando desde hace tiempo que nos quieren quitar la base del impuesto territorial", señaló.No obstante, considera que el grave error que ha cometido Panamá es darle de más al GAFI en cuanto a los registros contables ya que si ellos quieren perseguir a alguien son ellos los que deben investigar.La inclusión de Panamá en estas listas discriminatorias afecta la imagen y negocios que se podrían lograr a nivel internacional. Prueba de ello, es que hoy día hay menos bancos corresponsales y por ende menos inversión extranjera en la economía panameña.Precisamente GAPIFI nació ante la discriminación y disposiciones contradictorias y engaños en las que se ha visto involucrada Panamá, por ende, busca alzar su voz para que Panamá tenga un trato igualitario en comparación a otros países.Transparencia y medidas de retorsiónCarlos Raúl Moreno, recordó que el 50% de las sociedades han salido del registro por no proporcionar datos lo que significa que se ha limpiado el sistema. Consideró además, que Panamá tiene que avanzar en su capacidad de cobrar los impuestos internos y de las investigaciones en casos de evasión fiscal.Sobre las medidas de retorsión, dijo que se utilizan cuando al país no se le da un trato igualitario y a su vez envía un mensaje diplomático de que Panamá exige un mejor trato."De salida nos equivocamos porque desde un principio teníamos que sentarnos a hablar con nuestros socios principales", señaló.Por último, Moreno calificó al Gobierno de Panamá con 3.5 en su efectividad para lograr la salida de Panamá de la lista gris del GAFI.

Panamá, 1 de junio de 2023Panamá publicó el 11 de noviembre de 2021 la Ley 254, que introduce adecuaciones a la legislación en materia de transparencia fiscal internacional y de prevención de blanqueo.  Entre sus puntos principales están los registros contables, debida diligencia y el sistema único de beneficiarios finales. Si bien la Ley 254 nació como una necesidad para salir de la lista gris del Grupo de Acción Financiera Internacional (GAFI) y la lista de la Unión Europea, la embajadora de este país en Panamá, Izabela Matusz, señaló que no es necesario.En su análisis realizado en el programa En Contexto con la periodista Adela Coriat, Izabela Matusz, informó que en ningún punto el GAFI habla de registros contables, sino, que es la ley panameña la que lo menciona."El requisito es el registro de beneficiario final para que el beneficiario no se pueda esconder. Esto es muy importante", resaltó.Aunque el GAFI no exige el registro contable, la Organización para la Cooperación y el Desarrollo Económicos (OCDE) sí la exige como organismo que persigue la evasión fiscal.El Ministerio de Economía y Finanzas (MEF), a través de la Dirección General de Ingresos (DGI), ha hecho un llamado a los agentes residentes para que se inscriban al sistema e-Tax 2.0, a fin de continuar avanzando con una cultura tributaria eficiente y poder garantizar el intercambio de información dentro de la República de Panamá.Unión Europea exigirá más a PanamáLa Embajadora de la Unión Europea en Panamá, Izabela Matusz, fue enfática al señalar que Panamá necesitará más requisitos para salir de la lista de paraísos fiscales dado que este país para preservar su sistema financiero integral es más exigente que el GAFI.La entrada de Panamá en la lista de la UE es consecuencia de la calificación anterior por parte de la OCDE como “parcialmente cumplidor” en intercambio de información tributaria.En su opinión es un requisito imprescindible salir primero de la lista del GAFI y luego empezar empezar el proceso para salir de la lista de la UE.Para ello, aclaró que Panamá debe tener una información más amplia del registro de beneficiario final, acceso a la información e intercambio."Panamá tiene que mostrar ahora que funciona y si puede dar la información rápido porque hay una efectiva cooperación entre los países", expresó.

President Abdel Fattah El Sisi received a phone call from IMF Managing Director yesterday, discussing the government's economic reform program. New rules making it easier for foreigners to get citizenship were signed into law by El Sisi, including the purchase of real estate units for a value of USD350k. TMGH is a key beneficiary.  The cabinet approved a recent decision by the Interior Ministry to amend the Investment Act regulations to allow foreign investors to acquire year-long non-touristic residencies when proposing investment plans to GAFI.  Finance Minister Mohamed Maait expressed optimism that the New Development Bank — the multilateral lender set up by the BRICS — will provide Egypt with concessional loans to fund infrastructure projects. Some prepaid cards can no longer be used to make international transactions, according to the CBE, cards that aren't linked to bank accounts, and issued by digital payments companies Klivvr, Nexta, and Telda. Importers can now pay just 1% of the tax and fees required to proceed with the customs clearance process before the arrival of imports, down from 30% previously, according to a Finance Ministry decision. The remaining 99% is to be paid upon the arrival of imports. The decision went into effect on 30 May. The developers of Cyprus' Aphrodite field plan to build a subsea pipeline linking the offshore gas reservoir to an Egyptian LNG processing facility. Trade and Industry Minister issued a decision allowing industrial investors to pay for licenses every three or five years, instead of annually.  An energy firm will make its debut on the EGX within two months, according to EGX head Ramy El Dokany.  The exchange is terminating its EGX50 index due to its limited usefulness and will launch a new Sharia-compliant index. Negative net foreign position fell in April for the first time since December, by USD 162.7 million, reaching USD 24.1 billion, compared to USD 24.3 billion during last March, supported by a decrease in the commercial banks negative NFA, while it widened at the CBE. SWDY (FV: EGP22.87, OW) achieved solid 1Q23 results recording a surge in net attributable income to EGP2.9 billion in 1Q23, almost 4-fold the earnings in 1Q22 and 25% higher than 4Q22. Bottom-line growth was accelerated by higher profitability across all business segments, coupled with higher FX gains that partially offset rising financing costs and SG&A expenses. SWDY is currently trading at FY23e P/E of 4.4x and EV/EBITDA of 4.7x. Please refer to our note published earlier today for further details. ORAS general assembly approved the purchase of 6,517,444 of its own shares (the “Shares”), representing 5.58% of the Company's total issued share capital at a price of USD3.00/share. Consumer Staples  OLFI (FV: EGP14.11, OW) released 1Q23 financial results: Net profit for the quarter recorded EGP115.2 mn (+27.1% YoY, -15.2% QoQ) with a margin of 7.8% versus 9.8% in 1Q22 and 9.6% in 4Q22. The sequential pressure in net profitability came backed by FX losses. The rise in net interest expense took a toll on bottom-line as well due to the rise in the company's net debt. We raise our FV for OLFI to reach EGP14.11/share from a previous EGP11.60/share and uplifting our recommendation to Overweight. OLFI is currently trading at a FY23 P/E of 9.7x and and EV/EBITDA of 5.2x. POUL (FV: EGP5.90, EW) POUL achieved record breaking results for the quarter. Net profit recorded EGP556.1 mn compared to EGP52.5 mn in 1Q22 and EGP76.7 mn in 4Q22. The huge peak is backed by a sur

Egypt's annual urban inflation jumped to 32.7% y-o-y in March, up from 31.9% the month before. Core inflation stood at 39.5% y-o-y in March, down slightly from February's record high of 40.3%.Yesterday, the spring meetings of the World Bank and the International Monetary Fund kicked off in Washington, DC, with the participation of Egypt's Minister of International Cooperation.Chinese hydropower developer CTG wants to invest in local renewable energy, desalination, water pumping, and green hydrogen projects.China Energy could start working on a USD 5.1 bn green hydrogen facility in Egypt next month.GAFI intends to launch the digital platform for establishing companies in Egypt in July, which is in addition to a comprehensive map of all investment opportunities across Egypt.QNBA 1Q23 net profit pre-minority interest and appropriations recorded EGP4,715 billion (+56% q/q, +114% y/y). The stock is currently trading at 2023 multiples of P/B of 0.6x and P/E of 3.8x.National Paints Holding (NPH) raised its offer to acquire 100% of PACH's shares to EGP39.80 per share, up from its previous EGP37.75/ share.EGAL released its adjusted budget for FY2023/24 targeting a net profit after tax of EGP3.1 billion (previously EGP3.5 billion) vs. EGP2.50 billion recorded in FY2021/22 and an estimated figure of EGP3 billion in FY2022/23. The budget is planned on average exchange rate of EGP30/USD.The National Authority for Tunnels is preparing to assign new projects worth EGP17 billion to a number of contracting companies, in the high-speed train project “Ain Sokhna-Matrouh”, including the construction of 15 bridges.Foreign cruise ships are getting a 50% discount on service fees and an exemption from local port authority fees at Egypt's ports. Cruise operators must pay their fees in USD.EgyptAir is launching a new route to Bangladeshi capital, Dhaka, on 14 May 2023, with two weekly flights.RMDA's shareholders approved the distribution of 0.507 bonus share for each original share held, brining paid in capital to EGP380 million distributed over 1.52 billion shares at a par value of EGP0.25 per share.RACC's shareholders approved not distributing dividends out of 2022 profits.

Une discussion à la croisée de nombreux chemins: la crypto, l'innovation, la réglementation, le juridique pour comprendre les enjeux et challenges des acteurs crypto pour les prochaines années. La raison pour laquelle j'ai convié Biba, c'est aussi cette expertise ultra fine qu'elle a des marchés Suisses et Européens. En filigrane de cet échange, de nombreux concept notamment les distinctions entre les trois catégories de tokens : Utility, Payment et Security, les DAOs ou encore les typologies de PSAN ou VASP. Ce qui est particulièrement intéressant c'est le rôle que joue le GAFI et la manière dont les pays européens et la Suisse se positionnent sur ces sujets. Vous verrez que la Suisse est ultra pragmatique et flexible et a su développer un savoir faire bien à elle. Nous revenons aussi sur les sujets cross borders en prenant l'exemple de la Banque Crypto Suisse Signum. Sans revenir sur MICA en particulier, Biba nous livre sa vision de l'évolution de ce marché naissant qui a encore de nombreux défis à relever et la manière dont elle accompagne ses clients.

Extrait de l'épisode de Dimanche Une discussion à la croisée de nombreux chemins: la crypto, l'innovation, la réglementation, le juridique pour comprendre les enjeux et challenges des acteurs crypto pour les prochaines années. La raison pour laquelle j'ai convié Biba, c'est aussi cette expertise ultra fine qu'elle a des marchés Suisses et Européens. En filigrane de cet échange, de nombreux concept notamment les distinctions entre les trois catégories de tokens : Utility, Payment et Security, les DAOs ou encore les typologies de PSAN ou VASP. Ce qui est particulièrement intéressant c'est le rôle que joue le GAFI et la manière dont les pays européens et la Suisse se positionnent sur ces sujets. Vous verrez que la Suisse est ultra pragmatique et flexible et a su développer un savoir faire bien à elle. Nous revenons aussi sur les sujets cross borders en prenant l'exemple de la Banque Crypto Suisse Signum. Sans revenir sur MICA en particulier, Biba nous livre sa vision de l'évolution de ce marché naissant qui a encore de nombreux défis à relever et la manière dont elle accompagne ses clients.

Le Maroc va-t-il sorti de la fameuse liste grise du GAFI ? Des experts de cet organisme intergouvernemental sont en visite au Royaume depuis ce lundi 16 janvier. L'ocassion de se pencher sur l'état des lieux du blanchiment au Maroc. Dans Le Scan, le podcast actu de TelQuel, interview d'Abdelaziz Nouaydi, avocat et Secrétaire Général de Transparency Maroc. L'équipe "Le Scan" par TelQuel Média : Présentation, écriture : Landry Benoit  Interview, montage : Mathilda Peyronie Soutenez un média indépendant. Abonnez-vous à Telquel : https://telquel.ma/abonnement/ 

El principio que guía la creación de normativas y regulaciones financieras es aprender de las malas experiencias y mejorar aquellas futuras para las instituciones financieras y otros sujetos obligados. Además de evitar los errores, desastres y crímenes del pasado, estas regulaciones también buscan fortalecer la capacidad de las instituciones para prevenir y gestionar nuevos riesgos y estructurar su funcionamiento para que su operación sea estandarizada y segura, tanto para beneficio propio como de los inversionistas, clientes y el sistema financiero. Por supuesto, aunque se determinen estándares internacionales, cada región o jurisdicción deberá crear sus propios estándares a seguir que se ajusten a sus necesidades y características particulares.En este episodio:- Tendencias del alcance de compliance en Latinoamérica- Importancia del cumplimiento de estándares- Aprendizajes de la lista gris del GAFI e índice de Basilea- Onboarding digital vs tradicional; automatización- Recomendaciones importantes para los sujetos obligados en Latinoamérica

Programa ao vivo com o advogado criminalista Dr. Felipe Américo de Moraes para falar sobre privacidade, anonimato, ondas regulatórias no ambiente digital e o abuso de governos. MINUTAGEM 00:00 Sala de espera 03:01 Vídeo "Bitcoin tira o controle sobre o cidadão – Ted Cruz" 06:08 Introdução 13:47 Dr. Felipe Américo de Moraes e sua visão sobre o Bitcoin e sua regulação 18:39 Governos estão sendo agressivos no combate à lavagem de dinheiro com criptomoedas? 22:10 O que é a organização GAFI, e qual sua função? 24:23 Quão eficiente é o GAFI no combate à lavagem de dinheiro? 27:49 Exchanges centralizadas, coleta de informações e o repasse aos governos 30:20 Sobre a lei aprovada no Parlamento Europeu e as orientações da GAFI 34:30 Às recomendações da GAFI sobre proibição de carteiras privadas 36:35 É possível identificar lavagem de dinheiro entre dois endereços privados? 41:00 O que é lavagem de dinheiro e paralelo entre privacidade e combate à criminalidade 42:30 A ambição de governos em regular o mercado de criptoativos 47:19 Objetivo da União Europeia e a possibilidade de países criarem leis semelhantes 52:26 Regular o mercado de exchanges fará com que poucas sobrevivam 56:16 Aceitar fazer comércio com alguém que lavou dinheiro é crime? 59:40 O que irá acontecer com exchanges centralizadas e descentralizadas com a aprovação da lei na União Europeia? 01:03:19 Sobre o novo protocolo Taro da Lightning Network 01:05:45 Como encontrar o Dr. Felipe Américo de Moraes na Internet? ________________ APOIE O CANAL https://bitcoinheiros.com/apoie/ ⚡ln@pay.bitcoinheiros.com Loja dos Bitcoinheiros https://loja.bitcoinheiros.com/ SIGA OS BITCOINHEIROS: Site: https://www.bitcoinheiros.com Youtube: https://www.youtube.com/bitcoinheiros Twitter: https://www.twitter.com/bitcoinheiros Allan - https://www.twitter.com/allanraicher Dov - https://twitter.com/bitdov Becas - https://twitter.com/bksbk6 Ivan - https://twitter.com/bitofsilence Instagram: https://www.instagram.com/bitcoinheiros Facebook: https://www.fb.com/bitcoinheiros Podcast: https://anchor.fm/bitcoinheiros APOIE O CANAL: - Dê uma gorjeta em Bitcoin: https://bitcoinheiros.com/apoie/ - Inscreva-se no canal - Deixe seu comentário no vídeo - Dê um like no vídeo - Compartilhe o vídeo e o canal com amigos e familiares na sua rede social - Envie um email com seu comentário e sugestões: bitcoinheiros@protonmail.com COMO GUARDAR SEUS BITCOINS? Bitcoinheiros recomendam o uso de carteiras Multisig com Hardware Wallets de diferentes fabricantes. Busque por "canivete bitcoinheiro" em nosso canal para saber mais. - COLDCARD - https://store.coinkite.com/promo/bitcoinheiros (use o código bitcoinheiros para ganhar 5% de desconto) - TREZOR E BITBOX02 PARA RESIDENTES NO BRASIL E A --- Send in a voice message: https://anchor.fm/bitcoinheiros/message

Em que medida o advento do Bitcoin tenciona a política-criminal de combate à lavagem de dinheiro? O advogado criminalista Dr. Felipe Américo de Moraes veio bater um papo com os bitcoinheiros para falar do seu livro que faz uma revisão histórica sobre criptografia, privacidade, anonimato e o papel do bitcoin. Uma perspectiva nova e muito interessante que ainda não tínhamos abordado com profundidade no canal. MINUTAGEM 00:00 Abertura 02:15 Apresentação do convidado Advogado criminalista Dr. Felipe Américo de Moraes 04:00 Por que a literatura jurídica é tão rasa no tema bitcoin 05:00 A lei de lavagem de dinheiro e sua aplicabilidade ao bitcoin 06:15 Lavagem de dinheiro x Privacidade e anonimato 09:03 Como o bitcoin tensiona a política criminal com a lavagem de dinheiro 09:22 Princípio da contaminação na lavagem de dinheiro 11:40 Histórico de regulações no ambiente digital 14:15 Crypto Wars 14:45 Ondas regulatórias sobre criptografia 17:20 Vigilância declarada e o surgimento dos cypherpunks 18:05 Phil Zimmermann e a criação do PGP 19:50 Criptografia é liberdade de expressão - código é discurso 21:00 Sobre ineficiência de um sistema de vigilância amplo 23:30 As ondas regulatórias e o foco nos pontos de afunilamento da rede 24:40 Monitoração evidente e monitoração oculta 26:45 Monitoração de empresas para desenvolver sistemas de consumo 28:30 Hypernudging - indução do comportamento por conhecimento profundo do consumidor 29:15 A incapacidade do estado em proteger a privacidade do indivíduo 30:20 A impunidade sobre os responsáveis pelos sistemas de vigilância invasivos do estado 31:45 Snowden, herói ou traidor 32:04 Por que pensar em comunicação privada se 'você não tem nada para esconder' 32:40 Monitoração de indivíduos por meio de transações financeiras e o direito à defesa legítima 35:12 Privacidade como legítima defesa 36:00 Transações financeiras como meios de comunicação sem intermediários 36:40 Recomendações do GAFI contra a lavagem de dinheiro 38:50 Antifragilidade de sistemas descentralizados 42:15 Bittorrent como resposta à regulação do Napster 43:50 Ataques a desenvolvedores de sistemas descentralizados de código aberto 44:45 O que é lavagem de dinheiro 47:35 Colocação - Anonimidade do dinheiro em espécie vs bitcoin on chain 49:00 Transações simples e complexas e sua relação com lavagem de dinheiro 50:15 Transações off chain 51:35 A ética da ofuscação 54:30 Definição de lavagem de dinheiro e exemplos 58:00 Enterro de valores para evitar confisco não configura lavagem 01:00:20 Crime de favorecimento real 01:01:20 Dificuldade de monitoração e falsos positivos 01:05:15 Complexidade técnica para ofuscar transações e melhorias futuras 01:06:45 Empresas de análise da chain (chain analysis) 01:08:18 Blacklist de endereços bitcoin e falsos positivos 01:11:10 Futuras melhorias e integrações de técnicas de ofuscação 01:15:50 Regras de compliance das corretoras (KYC) 01:17:30 Movimentações em sidechains com confidential transactions 01:19:30 Tempo necessário para que ferramentas de anonimato seja padrão em carteiras bitcoin 01:21:40 O maior aprendizado do convidado na sua jornada 01:24:15 A crypto war não acabou 01:25:00 Leia o livro: Bitcoin e lavagem de dinheiro ________________ APOIE O CANAL https://bitcoinheiros.com/apoie/ ⚡ln@pay.bitcoinheiros.com Loja dos Bitcoinheiros https://loja.bitcoinheiros.com/ SIGA OS BITCOINHEIROS: Site: https://www.bitcoinheiros. --- Send in a voice message: https://anchor.fm/bitcoinheiros/message

Les Émirats arabes unis attirent de plus en plus les ressortissants russes les plus fortunés. Les liens amicaux noués entre les deux pays se sont resserrés avec la guerre en Ukraine. Il y avait déjà une forte communauté russe aux Émirats : environ 60 000 résidents, la plupart du temps propriétaires d'une belle villa. Dans cette pétro-monarchie, un investissement dans la pierre de 750 000 dirhams, soit environ 200 000 euros, donne automatiquement accès à un permis de séjour. Sa durée variant en fonction du montant investi. Les agents immobiliers de Dubaï ont vu affluer cette clientèle dès que les troupes russes ont commencé à se masser aux frontières de l'Ukraine. Depuis le début de l'offensive, la demande explose, elle a été multipliée par trois dans certaines agences, par dix dans d'autres. Dubaï est devenu le refuge des oligarques ? Les grandes fortunes russes, mais aussi les moins grandes, apprécient beaucoup les Émirats. Une bonne partie des employés des banques d'investissement occidentales présentes à Moscou comme Goldman Sachs, JP Morgan ou Rothschild a rejoint les Émirats depuis la fermeture des bureaux moscovites. Les nouveaux arrivants bénéficient, dans ce petit État du Golfe, d'un environnement très favorable aux intérêts de leur pays. Le fonds souverain des Émirats, Mubadala, a des participations croisées dans l'économie russe, avec un autre fonds russe, à hauteur de 3 milliards de dollars. Et pour le moment, contrairement au fonds souverain norvégien, il n'a pas l'intention d'y renoncer. Les liens sont aussi très forts entre les gouvernements à l'extérieur de leurs frontières. Les Émirats arabes unis ont financé l'intervention en Libye des mercenaires de l'agence russe Wagner. Outre le visa doré, d'autres raisons très basiques motivent leur installation dans la pétro-monarchie : c'est l'un des rares pays qui maintient ses vols vers la Russie. C'est aussi un pays qui ne se sent pas lié par les sanctions occidentales. Les Russes ne sont plus les bienvenus dans les pays européens, ils viennent donc maintenant dans le Golfe pour y trouver un abri. Et un coffre pour préserver leur capital. Comment parviennent-ils à transférer leurs avoirs ? Certains arrivent avec des valises remplies de billets verts, ils paient donc cash leur villa ou leur appartement. Ils ont aussi largement recours aux cryptomonnaies. Dubaï vient de mettre en place une législation favorable aux moyens de paiement virtuel et en décembre l'émirat a passé un accord avec Binance, la première plate-forme mondiale d'échanges de bitcoins. Enfin, si toutes ces alternatives de paiement échouent, il reste l'hawala, un système de transfert d'argent ancestral courant dans les pays du Moyen-Orient. Abu Dhabi a la réputation de faciliter le blanchiment et l'évasion fiscale. Ce centre financier est très arrangeant avec les montages sophistiqués. Sa législation s'y prête. Sur ce confetti de sept émirats, il y a 39 registres de sociétés et autant de zones franches. Cette réputation sulfureuse et l'afflux de ces nouveaux venus lui a valu une surveillance accrue du Gafi. Début mars, l'organisme international de lutte contre le blanchiment l'a placé sur sa liste grise des États suspects. ► EN BREFLe baril de pétrole est en forte baisse ce matin dans les premiers échanges électroniques. Moins cinq pour cent, un recul déclenché par une information de l'agence Bloomberg : Joe Biden s'apprête à libérer un million de barils par jour des réserves stratégiques pendant six mois. Ce serait la plus forte intervention jamais décidée depuis cinquante ans. Les États-Unis détiennent 589 millions de barils, ils seraient prêts à en mettre environ un tiers sur le marché. La Russie comme l'Ukraine vont endurer une sévère récession, prévient la Berd D'après la Banque européenne pour la reconstruction et le développement (Berd), le PIB ukrainien pourrait reculer de 20% cette année, celui de la Russie de 10%. Des prévisions basées sur l'hypothèse d'une guerre durant plusieurs mois.

Dans Cette Semaine en Turquie, nous avons parlé de: -La chute de la livre turque, suite à la décision de la Banque Centrale de baisser son taux directeur, à la possibilité d'une crise diplomatique et à l'inscription de la Turquie dans la liste grise du Gafi.