DJ COFICERT: Tanmeyah Signs Certification Agreement with COFICERT France to obtain AML 30000 Certification
COFICERT
COFICERT: Tanmeyah Signs Certification Agreement with COFICERT France to obtain AML 30000 Certification
21-Aug-2024 / 08:00 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press Release
Paris, Cairo, August 2024, 8 A.M.
Tanmeyah Signs Certification Agreement with COFICERT France to obtain AML 30000 Certification
Tanmeyah, a subsidiary of EFG Holding (EGX: HRHO.CA) and a leading provider of financial services in Egypt with a
concerted focus on micro and small enterprise segments, has entered a strategic certification agreement with COFICERT
France to attain the prestigious AML 30000 certification. International certification standard, AML 30000 represents
the pinnacle of anti-money laundering (AML) and counter-terrorism financing (CTF) compliance. It also serves as a
valuable complement to government regulation, fostering a more secure and resilient financial ecosystem both
domestically and internationally. With the backing of the International Group for Sustainable Finance (IGSF), this
agreement will enable Tanmeyah to solidify its position in the microfinance sector in the region. This milestone will
not only enhance Tanmeyah's robust AML/CTF framework but also reinforce its commitment to ethical and responsible
financial practices.
Microfinance institutions serve as vital bridges between the private sector and civil society, empowering individuals
and communities through financial inclusion. By providing access to essential financial services, microfinance
institutions contribute significantly to poverty reduction. Given their role in fostering economic development, it is
imperative that MFIs implement robust anti-money laundering (AML) and counter-terrorism financing (CFT) measures. The
unique operational context of microfinance institutions, characterized by geographical and economic factors, exposes
them to heightened AML/CFT risks. To mitigate these challenges, they must fully comply with the stringent regulations
imposed on all financial service providers.
Jinu Johnson, Chief Executive Officer and Managing Director of Tanmeyah, highlighted the significance of this
initiative. "Our commitment to the highest AML standards is more than a regulatory requirement; it is crucial for
strengthening our credibility, managing risks effectively, and ensuring regulatory compliance. By adhering to stringent
AML practices, we will continue to build trust with our clients, investors, and regulatory bodies. Additionally, we
will protect the vulnerable individuals we serve, preventing exploitation and upholding the highest ethical standards
in our operations. Implementing robust AML measures is essential for our growth and enhancing our impact in the
microfinance sector" said Johnson.
" Tanmeyah's enrollment in the AML 30000 certification process is commendable and inspiring for the entire financial
sector," said Cristian Mocanu, Secretary-General of COFICERT. "If compliancy will be revealed during the evaluation
process, Tanmeyah will be granted a three-year certificate of conformity (subject to annual follow-up evaluations),
allowing it to join the ranks of certified institutions committed to best AML/CTF practices, and to set a strong
example for other NBFIs in Egypt and the region".
COFICERT is a globally recognized French certification body with a strong track record in financial and non-financial
standards. Operating in nearly 40 countries across three continents, COFICERT collaborates closely with international
certification and standardization organizations. Their team of experts in governance, financial crime, and sustainable
finance ensures rigorous certification processes. COFICERT offers certifications in key areas such as good financial
governance (MSI 20000), social responsibility (ESG 1000), anti-money laundering and counter-terrorism financing (AML
30000), and anti-corruption (ISO 37001).
ABOUT
Tanmeyah is one of Egypt's leading providers of financial services with a concerted focus on the micro and small
enterprise segments. Founded in 2009 and acquired by EFG Holding in 2016, Tanmeyah quickly became Egypt's pioneer in
responsible financing for lower-income enterprise owners with limited access to capital. Tanmeyah's loans for this
crucial population segment enable small entrepreneurs to launch and grow their businesses and support their surrounding
communities. Tanmeyah directs its financing towards high-demand areas and individuals through branches in the heart of
its communities, mainly in the Delta and Upper Egypt. It also offers products and services that complement the diverse
needs of small businesses, such as individual lending for women and light vehicle loans. The company seeks to fuel
economic growth, provide pathways out of poverty, and improve local living standards.
Tanmeyah has issued around three million financing facilities of various types and sizes. It currently serves nearly
30,000 new clients monthly through its network of over 305 branches and approx.-5,000 employees in 25 governorates.
Learn more about us at www.tanmeyah.com
COFICERT is a French certification body, specialized in financial and non-financial certifications, operating in nearly
40 countries over three continents. COFICERT operates historically with and alongside international certification and
standardization bodies. The organization brings together experts in governance, financial crime and sustainable
finance. COFICERT certifies on the following topics: good financial governance (MSI 20000), social responsibility (ESG
1000), the fight against money laundering and the financing of terrorism (AML 30000) and the fight against corruption
(ISO 37001).
The AML 30000 Standard (AML for Anti-Money Laundering - index 30000) is the international standard dedicated to the
fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction (AML/
CFT); intended for financial institutions and certain non-financial businesses and professions, designated as "subject
persons" by the FATF. Certification to the AML 30000 Standard aims to protect and reassure the various stakeholders
against the risks of money laundering and terrorist financing. The standard is governed internationally by the IGSF
(International Group for Sustainable Finance).
TANMEYAH COFICERT AELIUM - Financial Communication
Press Contact
Press Contact Press Contact
Tanmeyah Corporate Communications Team
Joan Khattar Solène KENNIS
PublicRelations@efghldg.com
+33 (0)1 40 17 05 22 +33 (0)1 75 77 54 65
joan.khattar@coficert.org skennis@aelium.fr
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[HN1]Add COFICERT France's logo
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Regulatory filing PDF file File: ENG. Tanmeyah Coficert AML 30000
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Language: English
Company: COFICERT
3 Rue Edouard Fournier
75016 Paris
France
Phone: 01 40 17 05 22
Internet: https://www.coficert.org/
Euronext Ticker:
AMF Category: Inside information / Other releases
EQS News ID: 1971803
End of Announcement EQS News Service
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