Muhammad A. Baasiri
Muhammad A. Baasiri | |
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محمد بعاصيري | |
| Add a Photo | |
| Born | Muhammad Ahmad Baasiri January 13, 1951 Beirut, Lebanon |
| Nationality | Lebanese |
| Citizenship | Lebanon |
| Education | BBA |
| Alma mater |
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| Occupation | Banker |
| Known for | Former Vice-Governor of Lebanese Central Bank Banque Du Liban |
| Spouse(s) | Rima |
| Children | 3 |
| Awards | Professional of the Year (2008) |
Muhammad Ahmad Baasiri is a Lebanese banker, who served as Vice-Governor for the Lebanese Central Bank – Banque du Liban (BDL)[1] for two consecutive mandates (2009 – 2019).[2] He was a member of the Higher Banking Commission and president of the National Coordination Committee to combat money laundering. He is currently overseeing the liquidation of Jamal Trust Bank (JTB)[3]. Additionally, he is the Chairman of US-MENA Private Sector Dialogue; Member and Co-founder of the Lebanese Association of Certified Public Accountant (CPA)[4]; and member of the American Institute of Certified Public Accountants (AICPA)[5].
Education
Baasiri earned an academic degree in Business Administration from the American University of Beirut - (AUB)[6], where he lectures. He is a Certified Public Accountant (CPA) [7] from the University of the State of New York (SUNY) [8].
Career and achievements
Baasiri chaired the Banking Control Commission of Lebanon (BCCL) [9] for two consecutive mandates (1990–2000) [10]. He was then appointed as a resident advisor to the International Monetary Fund (IMF)[11] at the Central Bank of Oman (CBO) [12] from 2000 to 2001. In 2001, he founded the Special Investigation Commission (SIC) [13], which is the Financial Intelligence Unit (FIU) of Lebanon: Audit & Investigation Unit, Financial Investigation Administrative Unit, IT & Security Unit, and became the first Secretary-General till his appointment as Vice-Governor at the Lebanese Central Bank – Banque du Liban (BDL) [14] in 2009.
During his tenure, and unprecedented governance, the SIC witnessed significant achievements:
Lebanon was removed from the Financial Action Task Force (FATF) [15] the Non-Cooperative Countries and Territories (NCCT) list, which is the global money laundering and terrorist financing regulator
In 2001 the SIC joined the Egmont Group [16] of Financial Intelligence Units His efforts were also instrumental in the creation of both the Middle East and North Africa Financial Action Task Force (MENAFATF) [17] in which he served as first president in 2005.
In 2002, he established the SIC Compliance Unit.
He had a major role in the issuance of BDL circular 83 [18] in 2001, related to Regulations on the Control of Financial and Banking Operations for Fighting Money Laundering and Terrorist Financing, and the related amendment later on in 2002, in addition to various SIC regulatory circulars [19]
He was involved in the establishment of the National Committee for Coordinating Anti Money Laundering (AML) policies in 2002 [20]. In addition, he had a significant role in creating the AML unit at the Lebanese Internal Security Forces [21] and Customs [22]
In 2003, Baasiri included Terrorism Financing in Law 318, related to Fighting Money Laundering, that was replaced by virtue of Law No 44 [23] of November 24, 2015.
Baasiri served as Vice-Governor of the Lebanese Central Bank – Banque du Liban (BDL) for two consecutive mandates (2009-2019), he oversaw multiple departments at BDL. Additionally, he was a member of the Higher Banking Commission and former Chairman of the National Committee for Coordinating AML Policies. The Governor of the Lebanese Central Bank – Banque du Liban (BDL) Riad Toufic Salamé [24] currently appointed Baasiri, to oversee the liquidation of Jammal Trust Bank (JTB), after the latter’s designation by the Office of Foreign Assets Control (OFAC), on 29 August 2019. Baasiri has been the Chairman of the US-MENA Private Sector Dialogue since 2005. In addition, he is a member and co-founder of the Lebanese Association of Certified Public Accountant (CPAs) and a member of the American Institute of Certified Public Accountants (AICPA).
Awards
He earned in 1974, the Saba & Co. accounting prize. In 2000, he received official recognition from the Lebanese Government for his service. In addition, he was selected in 2008 as “Professional of the Year” for the Middle East & North Africa (MENA) region.
Publications
He had numerous publications and lectured at world-renowned fora and universities in Lebanon, addressing various topics on Combatting Money Laundering and Terrorist Financing. Muhammad Baasiri: Senior Banker and Businessman Becomes Prominent Premiership Candidate, Asharq Al-Awsat, July 2020 [25]
Muhammad Baasiri: Building and Spreading Compliance Culture, ACAMS TODAY, December 2011 [26]
Muhammad A. Baasiri in the media
References
- ↑ https://www.bdl.gov.lb/
- ↑ https://www.bdl.gov.lb/tabs/index/1/255/Governorate-Timeline.html
- ↑ https://www.jtbbank.com/
- ↑ https://www.lacpa.org.lb/
- ↑ https://www.aicpa.org/
- ↑ https://www.aub.edu.lb/
- ↑ https://www.aicpa-cima.com/designations-certifications/certified-public-accountant-cpa.html
- ↑ https://www.suny.edu/
- ↑ http://www.bccl.gov.lb/
- ↑ http://www.bccl.gov.lb/committee/bccl-board-timeline/
- ↑ https://www.imf.org/external/index.htm
- ↑ https://cbo.gov.om/
- ↑ https://sic.gov.lb/en/content/special-investigation-comission
- ↑ https://www.bdl.gov.lb/
- ↑ http://www.fatf-gafi.org/
- ↑ https://egmontgroup.org/en
- ↑ http://www.menafatf.org/
- ↑ https://www.bdl.gov.lb/circulars/download/3/en
- ↑ https://sic.gov.lb/en/laws-and-regulations/3
- ↑ http://www.legallaw.ul.edu.lb/LawView.aspx?opt=view&LawID=218024
- ↑ http://www.isf.gov.lb/en
- ↑ http://www.customs.gov.lb/home.aspx
- ↑ https://sic.gov.lb/sites/default/files/laws-regulations/Law%2044%20En.pdf
- ↑ https://www.bdl.gov.lb/governors/more/1/23/138/Riad%20T.%20Salam%C3%A9
- ↑ https://english.aawsat.com/home/article/2383381/mohammed-baasiri-senior-banker-and-businessman-becomes-prominent-premiership
- ↑ https://www.acamstoday.org/building-and-spreading-compliance-culture/
External links
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