Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) was established by the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government in the year 2000.
The creation of GIABA is a major response and contribution of the ECOWAS to the fight against money laundering.
GIABA is a specialized institution of ECOWAS that is responsible for strengthening the capacity of member states towards the prevention and control of money laundering and terrorist financing in the region. Apart from member states, GIABA grants Observer Status to African and non-African States, as well as Inter-Governmental Organizations that support its objectives and actions and which have applied for observer status.
The following organizations are also eligible for observer status within GIABA: the Central Banks of Signatory States, regional Securities and Exchange Commissions, UEMOA, Banque Ouest Africaine pour le Développement (BOAD), the French Zone Anti-Money Laundering Liaison Committee (Conseil Régional de l'Epargne Public et des Marchés Financiers), the African Development Bank (ADB),the United Nations /UNCTED, the United Nations Office on Drugs and Crime (UNODC), the World Bank, the International Monetary Fund (IMF), the FATF,Interpol, WCO, the Commonwealth Secretariat, and the European Union.
In 2007, Observer status was granted to the Egmont Group and the Republic of Sao Tome and Principe.See more