Money laundering is the process that optically transforms illegally acquired money into money with a legal appearance. This money may then be used to fund criminal or legal business activities. The consequences of money laundering are that legal economic activities are replaced by illegal economic activities. As such, money laundering is a severe threat to our economy. To prevent it becoming a significant part of our economy, the practice must be combated. Rather than completely eliminating money laundering, which is virtually impossible just like any other criminal activity, prevention must be strived for.
The Central Bank of Bahrain (CBB), in its effort to curtail the dangers of money laundering, has mandated BIBF to disseminate awareness on money laundering amongst the banking and financial communities. BIBF has gone beyond the awareness boundary by creating greater opportunities in career development, and protecting the financial industry and the economy at large by advancing anti-money laundering professionals in the GCC/MENA Region.
Participants typically will be MLROs and their deputies, Compliance Officers, Auditors, and other professionals in organisations that are prone to money laundering activities. These people need formal/structured knowledge more than work experience for the fulfilment of their function. These individuals should attend to prosper their career, protect their organisation and ensure value-based economies flourish.
Currently, the SMAT-AML is offered in one-week, intensive workshop sessions over six days, with optional sessions extended over six weeks, through five-hour classes on Saturdays. These sessions will be conducted in BIBF and followed by a full day examination preparation seminar (EPS) to be officially delivered by the ACAMS-appointed Specialists. After the completion of the preparation seminar, the participants will be given a Certificate of Attendance by BIBF for the SMAT-AML Programme, while the CAMSE will be structured for each candidate based on the individual's convenience in terms of attending the examination (CAMSE), and at a computer based centre (CBT) of their choice.
The participant should possess a minimum educational qualification of a bachelors degree, or ML/Compliance related job experience of at least 12 months, with minimum knowledge equivalent to BIBF's Anti-Money Laundering Awareness Level Programme.
Bahraini nationals are eligible for HRDF sponsorship, subject to conditions set by the HRDF and assessment testing by BIBF. For conditions and application for this scholarship.
Fees BHD 1,500.000 inclusive of:
ACAMS Membership/Subscription registrations
Examination preparation seminar (EPS) and the CAMS Examination (CAMSE) registrations
BIBF Tuition -this includes lecture and materials/Study aid with luncheons and coffee
SMAT-AML Certification -BIBF
Venue Bahrain Institute of Banking and Finance
Interested candidates, please contact
to obtain a registration form.