The United Arab Emirates has successfully concluded its participation in the 40th plenary meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF), held in the Jordanian capital, Amman, from May 4 to May 8.
The UAE delegation was led by His Excellency Hamid Saif Al Zaabi, Secretary-General and Vice Chairman of the National Committee for Combating Money Laundering and Terrorism Financing, who also serves as Vice President of MENAFATF.
The delegation comprised members from various national committees, including the Ministries of Justice, Interior, and Economy, the Financial Intelligence Unit, the Executive Office for Control and Non-Proliferation, and other relevant agencies.
This meeting marks the first under the joint priorities established by the UAE and Jordan for the 2025–2026 presidency term, with Her Excellency Samia Abu Sharif from Jordan at the helm and His Excellency Al Zaabi as Vice President. These shared priorities signal a renewed regional commitment to bolstering efforts against financial crimes and enhancing anti-money laundering and counter-terrorism financing systems in the area.
During the meeting, the UAE presented several working papers, including discussions on the role of the private sector in combating terrorism financing and a presentation on utilizing smart regulatory systems to address risks, provided by the Ministry of Justice regarding its Smart Monitoring System project. Additionally, a joint paper with the Moroccan delegation was shared on best practices in national risk assessments, alongside contributions in the Terrorism Financing Experts Forum and the Technical Committee for Targeted Financial Sanctions.
His Excellency Hamid Al Zaabi remarked that the UAE’s involvement in MENAFATF reflects the nation’s ongoing commitment to enhancing regional and international cooperation in the fight against financial crimes. He emphasized that such meetings serve as a crucial platform to support national priorities, strengthen regional partnerships, and contribute to the creation of a more efficient and transparent financial system.
He further noted that these meetings bolster ongoing efforts to combat illicit financing and transnational crimes, thereby reinforcing the country’s reputation as a reliable global financial hub.
Previously, the UAE and Jordan identified five shared strategic priorities aimed at enhancing the governance and operational effectiveness of the group and its global cooperation. These priorities include supporting member countries in preparing for the upcoming round of mutual evaluations, strengthening the governance framework within the group, improving the implementation of FATF recommendations, fostering strategic partnerships with international and regional entities, and developing risk monitoring methods in the areas of money laundering, terrorism financing, and arms proliferation financing.
The general meeting’s agenda featured vital sessions, including a discussion on trends and methods of risk, a working group on methodologies and capacity building, and a working group for mutual assessments.
The plenary also addressed strategic priorities, the adoption of reports, evaluation outcomes, and regional coordination to tackle emerging risks.
It is worth mentioning that MENAFATF, established in 2004, operates as a regional body similar to the Financial Action Task Force (FATF) and comprises 21 member countries and 18 observer entities. It plays a pivotal role in regional efforts to monitor and prevent illicit financial flows in line with international standards.