The Middle East and North Africa Financial Action Task Force (MENAFATF), 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), opened a Joint Forum of Supervisory Authorities and the Private Sector under the theme “Reasonable Balance and Trust-Based Dialogue.” The event brought together supervisory and regulatory authorities, private sector experts, international organisations and member states to discuss how financial crime controls can keep pace with a changing risk environment. Discussions focused on the rapid evolution of modern technologies, including the role of digital banks and artificial intelligence in financial services, risks linked to virtual assets and terrorist financing, achieving a proportionate supervisory approach for designated non-financial businesses and professions (DNFBPs), and the role of international cooperation in sustaining effective prevention systems. MENAFATF Executive Secretary Suliman bin Rashid Aljabrin called for a stronger “culture of compliance” grounded in partnership, proportionality and trust, while flagging gaps in risk awareness, training, and information-sharing barriers; he also highlighted the value of regulator guidance, structured feedback with the private sector, and joint risk assessments and inspection processes to align understanding of emerging risks.
Middle East and North Africa Financial Action Task Force (MENAFATF) 2026-04-23
Middle East and North Africa Financial Action Task Force convenes joint supervisory and private sector forum with EAG, ESAAMLG and GIABA
The Middle East and North Africa Financial Action Task Force (MENAFATF) and regional AML/CFT bodies convened a Joint Forum of Supervisory Authorities and the Private Sector under the theme “Reasonable Balance and Trust-Based Dialogue” to examine how financial crime controls can keep pace with evolving risks. Participants discussed digital banks, artificial intelligence, virtual assets, proportional supervision of DNFBPs, terrorist financing risks, and international cooperation. MENAFATF’s Executive Secretary stressed stronger compliance cultures, highlighting gaps in risk awareness, training, information-sharing, and the need for guidance and joint risk assessments.