FinCrime Central - Latest AML/CFT News & Vendor Directory

MENAFATF plenary meeting bolsters regional AML CFT collaboration

This image is AI-generated.

The Middle East and North Africa Financial Action Task Force (MENAFATF) serves as the premier regional body coordinating anti-money laundering and counter-terrorist financing (AML CFT) initiatives across 21 member states and numerous observers. Launched in 2004, MENAFATF mirrors the Financial Action Task Force (FATF), adapting global standards to the unique political, economic, and cultural landscape of the MENA region. Over the past two decades, fast-growing financial hubs, expanding digital payments, and evolving terrorist financing threats have made robust regional cooperation ever more critical.

Between 4 and 8 May 2025, Amman, Jordan, hosted the 40th Plenary Meeting of MENAFATF—the first under the UAE-Jordan joint presidency for 2025–2026. Leading the UAE delegation was H.E. Hamid Saif Al Zaabi, Secretary-General and Vice-Chair of the National Anti-Money Laundering and Combatting the Financing of Terrorism and Illegal Organisations Committee (NAMLCFTC) and Vice-President of MENAFATF. His presence underscored the UAE’s strategic ambition to cement its role as a regional AML CFT leader and trusted global financial hub.

Mutual Evaluations Preparedness: Assisting member states through capacity building, workshops, and peer support to align with FATF’s intense third-round evaluation cycle.
Internal Governance Enhancement: Refining MENAFATF’s decision-making structures, transparency measures, and stakeholder engagement to drive more agile responses.
FATF Recommendation Implementation: Strengthening mechanisms for consistent application of the 40 FATF Recommendations, including targeted peer reviews of high-risk sectors.
International Partnerships Expansion: Fostering strategic alliances with FATF, the Egmont Group, the World Bank, and regional enforcement networks to amplify resource sharing and intelligence exchange.
Advanced Risk Monitoring: Developing data analytics labs, AI-driven typology studies, and a regional asset recovery network to detect emerging ML/TF trends.

By codifying these priorities, the UAE-Jordan presidency aims to leave a durable framework that transcends individual tenures, ensuring smoother progress toward regional compliance goals.

UAE Delegation’s Key Contributions

At the heart of the plenary, the UAE showcased thought leadership across multiple fronts:

Private Sector Engagement Paper
The UAE delegation submitted a working paper highlighting the indispensable role of banks, fintech firms, and designated non-financial businesses (DNFBPs) in thwarting terrorist financing. It proposed best practices for public-private partnerships, information-sharing platforms, and real-time suspicious transaction reporting.
Smart Monitoring System Presentation
The Ministry of Justice detailed its cutting-edge Smart Monitoring System, which leverages transaction categorization algorithms and automated alerts to flag emerging risks. This system exemplifies how advanced digital tools can streamline oversight without stifling legitimate trade.
Joint National Risk Assessment with Morocco
In collaboration with Moroccan authorities, the UAE presented a paper on harmonizing risk assessment methodologies, ensuring consistency in identifying priority sectors—such as real estate, luxury goods, and cross-border remittances—that are vulnerable to laundering and proliferation financing.

These contributions reflect the UAE’s dual focus on technological innovation and harmonized risk methodologies, equipping fellow member states with actionable frameworks.

Advancing Regional Risk Monitoring and Evaluation

Beyond working papers, plenary sessions tackled the nuts and bolts of MENAFATF’s technical agenda:

Risk Trends and Typologies Group
Experts reviewed regional typologies—from trade-based laundering in Gulf ports to crypto-asset misuse by transnational networks—releasing a roadmap for forthcoming joint studies.
Methodologies and Capacity Building Working Group
Delegates exchanged curriculum designs for AML CFT training academies, recommending a standardized core syllabus to be rolled out across national training centers.
Mutual Evaluation Working Group
High-level discussions centered on aligning national self-assessment templates, clarifying scoring criteria, and addressing resource constraints in small-economy members.

Collectively, these sessions laid the technical foundation for more rigorous and transparent evaluations, a critical step in reducing soft-spots that criminal networks exploit.

MENAFATF’s Role in Combatting Regional Financial Crime

Since its inception, MENAFATF has evolved into a linchpin of MENA’s financial integrity architecture. By fostering peer learning, coordinating cross-border investigations, and vetting national legal frameworks against international norms, it ensures that member states speak a common AML CFT language. The 40th plenary under UAE-Jordan leadership represents a watershed: it transitions MENAFATF from mere coordination to proactive capacity-building and innovation stewardship—a shift exemplified by the UAE’s Smart Monitoring System and private sector frameworks.

As H.E. Al Zaabi aptly noted, “These meetings serve as a key platform to advance our national priorities, reinforce regional partnerships, and contribute to building a more efficient and transparent financial system. They also support our continuous efforts to counter illicit financing and transnational crimes.” His words highlight the synergy between national reforms and regional cooperation, reminding all participants that robust AML CFT regimes safeguard not only domestic financial integrity but the entire global financial system.

Conclusion

The 40th MENAFATF plenary meeting in Amman marked a pivotal moment for regional financial crime defenses. Through five shared strategic priorities, targeted technical initiatives, and high-impact UAE-led contributions, MENAFATF is poised to elevate AML CFT standards across the Middle East and North Africa. As member states embark on rigorous mutual evaluations and deploy advanced risk monitoring tools, the region’s financial architecture will become more resilient to emerging threats—from illicit trade networks to crypto-enabled money flows. Ultimately, sustained collaboration under the UAE-Jordan presidency will translate into tangible gains: fewer laundering safe havens, stronger public-private synergies, and a collective commitment to a transparent, secure financial ecosystem.

Source: OneArabia