The MENAFATF 5th Plenary Meeting was held in the King Hussain Bin Talal Convention Center, Dead Sea, Jordan on the 2nd and the 3rd of April 2007. The Hashemite Kingdom of Jordan chaired the said meeting, represented by His Excellency, the Governor of the Central Bank of Jordan, Dr. Umayya Toukan. Many experts in AML/CFT attended the Plenary Meeting, representing the member countries (Jordan, Bahrain, Tunis, Algeria, Saudi Arabia, Sudan, Syria, Iraq, Oman, Qatar, Kuwait, Lebanon, Egypt, Morocco, Mauritania, Yemen) in addition to the observing countries and organizations, including Palestine, France, UK, USA, Spain, IMF, WB, GCC, FATF, UNOCD and Egmont Group.
The meeting discussed a number of important issues relating to combating money laundering and terrorist financing, the most important of which was the Tunisia Mutual Evaluations Report, which was prepared by the Word Bank with the participation of the Secretariat as an observer. The report included the enforced procedures of AML/CFT in Tunisia, and overviewed Tunisia’s compliance with the intentional standards in this regard.
The meeting concluded with the following:-
- Adoption of the Mutual Evaluation Report of Tunisia, prepared by the World Bank.
- Adoption of the revised mutual evaluation procedures.
- Adoption of the typologies report on “Existing/Emerging Cross Border Payment Methods and their vulnerabilities to ML/TF”, and approving its posting on MENAFATF website.
- Adoption of a typologies project on "ML/TF Trends & Indicators" to be the upcoming typologies topic studied by MENAFATF.
- Acceptance of the Asia/Pacific Group’s invitation to MENAFATF to join it as an observer, and to exchange mutual evaluation reports on the basis of reciprocity, as cooperation among counterpart FSRBs assists the group to benefit from such organizations’ experiences, especially with regard to training, technical assistance and typologies mechanisms.
- Adoption of the 2006 Annual Report, Closing Account, and External Auditor Report.
- Forming two ad hoc committees on DNFBPs & PEPs.
- Adoption of electronic mail as a decision-making mechanism in some cases.
- Approving that interested countries should present to each Plenary meeting the most important developments related to its AML/CFT systems.
It was decided that the next MENAFATF Plenary will be held in Syria in November 2007, under the chairmanship of Dr. Umayya Toukan, the Governor of the Central Bank of Jordan.