The Joint Forum of Supervisory Authorities and the Private Sector commenced on the morning of Wednesday, 22 April 2026, under the patronage of the Middle East and North Africa Financial Action Task Force (MENAFATF), and in cooperation with the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), and the Intergovernmental Action Group against Money Laundering in West Africa (GIABA). The forum was held under the theme: “Reasonable Balance and Trust-Based Dialogue.”
The forum witnessed high-level participation from officials representing supervisory and regulatory authorities, experts from the private sector, as well as representatives of international organizations and member states. Participants discussed a number of strategic topics through interactive dialogue sessions, most notably the rapid evolution of modern technologies and their impact on the risk environment, the role of digital banks and artificial intelligence technologies in the financial sector, challenges associated with virtual assets and terrorist financing, achieving regulatory balance in supervising designated non-financial businesses and professions (DNFBPs), and the role of international cooperation in ensuring the effectiveness and sustainability of financial crime prevention systems.
Mr. Suliman bin Rashid Aljabrin, Executive Secretary of the Group, emphasized during the opening session the importance of strengthening a “culture of compliance” across both public and private sectors, based on partnership, proportionality, and trust, and implementing effective measures commensurate with the level of risk. He also highlighted the need to address prevailing challenges, including limited awareness of risks and their types, insufficient training, and legislative and operational barriers to information sharing.
He further stressed the pivotal role of supervisory and regulatory authorities in providing guidance and awareness, and in conducting effective feedback sessions with the private sector to enhance compliance. He added that joint risk assessments and objective inspection processes between regulators and the private sector contribute to a unified understanding of risks, including those associated with emerging technologies and digital platforms.
Experts from peer regional groups also participated in the forum, alongside representatives from international organizations, which contributed to enhancing the exchange of best practices and strengthening frameworks for international cooperation.
The forum represented a successful model of regional collaboration that can be built upon to expand partnerships with regional financial action task force-style bodies (FSRBs), thereby supporting international efforts to address the growing challenges in combating financial crimes.