The Middle East and North Africa Financial Action Task Force (MENAFATF), chaired by H.E. Hamid Saif Al Zaabi, President of MENAFATF, and H.E. Mr. Suliman Aljabin, Executive Secretary of MENAFATF—participated in the Financial Action Task Force (FATF) Ministerial Meeting. This meeting was held on the sidelines of the World Bank Group and International Monetary Fund (IMF) Spring Meetings this week in Washington, D.C.
According to the ministerial statement issued by the FATF, ministers emphasized the importance of the full and rapid implementation of international standards, the enhancement of international cooperation, and the acceleration of preventive measures, detection, investigation, and prosecution—alongside asset recovery and the strengthening of national legal frameworks—thereby contributing to the more effective combating of illicit finance.
The statement noted that financial crimes—including fraud, organized crime, and illicit trafficking—represent a growing threat requiring a coordinated international response, particularly in light of accelerating technological advancements that facilitate the cross-border movement of funds.
Ministers of the Financial Action Task Force (FATF) underscored the importance of countering illicit finance through coordinated, multilateral action, and agreed on the necessity of focusing efforts on the growing threat of fraud and on enhancing the effective implementation of the FATF’s risk-based standards.
MENAFATF participation—marking its first-ever attendance at the Spring Meetings of the World Bank Group and the International Monetary Fund (IMF)—falls within the framework of enhancing international coordination and exchanging expertise in the fields of financial system integrity and the combating of financial crimes.
His Excellency Hamid Saif Al Zaabi affirmed that the participation of the MENAFATF in this ministerial meeting represents a significant milestone in bolstering its presence within the international system and yielded positive results and contributed to strengthening coordination with international partners.
He added that this participation reflects the commitment to enhancing the effectiveness of their systems for combating money laundering, terrorist financing, and proliferation financing, as well as aligning with international best practices—thereby supporting the stability and integrity of financial systems at both the regional and global levels.
His Excellency noted that the outcomes of the ministerial meeting reflect a growing international consensus on the importance of joint action to confront rising financial threats, particularly in light of the rapidly evolving patterns of financial crime.