The United Arab Emirates has officially concluded its participation in the 40th Plenary Meeting of the Financial Action Task Force for the Middle East and North Africa (MENAFATF), which took place in Amman, Jordan, from May 4 to May 8.
The UAE delegation, led by His Excellency Hamid Saif Al-Zaabi, Secretary-General and Deputy Chairman of the National Committee for Combating Money Laundering and Terrorism Financing, also serves as the Vice-Chairman of MENAFATF.
The delegation comprised representatives from various national committees, including the ministries of justice, interior, and economy, the Financial Intelligence Unit, and the Executive Office for Non-Proliferation as well as several related agencies.
This meeting marks the first under the shared priorities of the UAE and Jordan’s presidency for 2025-2026, with Her Excellency Samia Abu Sharif from the Hashemite Kingdom of Jordan leading the group, while Mr. Al-Zaabi holds the position of Vice President. These shared priorities signify a renewed regional commitment to bolstering efforts against financial crimes and improving the effectiveness of anti-money laundering and counter-terrorism financing systems in the region.
During its participation, the UAE presented several papers that included the role of the private sector in countering terrorism financing, a presentation by the Ministry of Justice on its Smart Monitoring System project, a joint paper with Morocco on best practices in national risk assessments, as well as contributions to the Terrorism Financing Experts Forum and the Technical Committee on Targeted Financial Sanctions.
His Excellency Hamid Al-Zaabi emphasized that the UAE’s involvement in the MENAFATF meetings reflects the nation’s ongoing commitment to enhancing regional and international cooperation in combating financial crimes. He pointed out that these meetings serve as a crucial platform for supporting national priorities, strengthening regional partnerships, and contributing to the establishment of a more efficient and transparent financial system.
Additionally, he noted that these discussions support continuous efforts in countering illicit financing and transnational crimes, further enhancing the UAE’s status as a reliable global financial center.
The UAE and Jordan previously identified five strategic priorities aimed at improving the governance and operational effectiveness of the group and its global collaboration. These priorities include assisting member states in preparing for the upcoming round of mutual evaluations, enhancing governance systems within the group, ensuring better implementation of the Financial Action Task Force recommendations, strengthening strategic partnerships with international partners and regional entities, and developing methods for monitoring risks in the areas of money laundering, terrorism financing, and arms proliferation financing.
The plenary meeting’s agenda featured critical sessions including a risk trends and methods group, a working group on methodologies and capacity building, and a mutual evaluation working group.
The general session discussed strategic priorities, the approval of reports, evaluation results, and regional coordination in addressing emerging risks.
Founded in 2004, MENAFATF is a regional organization similar to the Financial Action Task Force (FATF) and consists of 21 member countries and 18 observer entities. It plays a key role in regional efforts to monitor and prevent illicit financial flows in alignment with international standards.