UAE Engages In MENAFATF Plenary Meeting To Strengthen Regional Financial Crime Efforts

The UAE took part in the 40th Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) held in Amman, Jordan from 4th to 8th May. Leading the UAE delegation was Hamid Saif AlZaabi, Secretary-General and Vice Chair of the National Anti-Money Laundering and Combatting the Financing of Terrorism and Illegal Organisations Committee (NAMLCFTC), who also serves as Vice President of MENAFATF.

The plenary meeting marked the first under the joint UAE-Jordan presidency priorities for the 2025–2026 term. Samia Abu Sharif from Jordan is currently MENAFATF's President, with Al Zaabi as Vice President. This collaboration highlights a renewed regional focus on combating financial crime and enhancing AML/CFT systems across the region.

The UAE and Jordan have outlined five strategic joint priorities for MENAFATF during their shared presidency term. These include aiding member countries in preparing for mutual evaluations, improving MENAFATF's internal governance, and strengthening FATF recommendation implementation. Additionally, they aim to enhance strategic cooperation with international partners and develop advanced risk monitoring methods.

During its participation, the UAE presented several working papers. One focused on the private sector's role in countering terrorist financing. The Ministry of Justice showcased a presentation on the Smart Monitoring System's role in addressing emerging risks. A joint paper with Morocco highlighted best practices in national risk assessment.

The plenary agenda included sessions such as the Risk Trends and Typologies Group, Working Group on Methodologies and Capacity Building, and Mutual Evaluation Working Group. General sessions concentrated on strategic priorities, evaluation report approvals, and enhancing regional coordination to tackle emerging financial risks.

Al Zaabi commented on the UAE’s involvement: "The UAE’s participation in the meetings of the Middle East and North Africa Financial Action Task Force (MENAFATF) reflects the country’s ongoing commitment to strengthening regional and international cooperation in combating financial crimes. 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, further solidifying the UAE’s position as a trusted global financial hub."

MENAFATF's Role in Combating Financial Crime

Established in 2004, MENAFATF is a regional organisation modeled after FATF. It comprises 21 member states and 18 observer organisations. MENAFATF plays a crucial role in coordinating regional efforts to prevent illicit financial flows according to international standards.

This plenary marks an important step towards achieving shared goals under UAE-Jordan leadership. The focus remains on advancing strategies against money laundering, terrorism financing, and proliferation financing while fostering stronger ties with global partners.

With inputs from WAM