Middle East and North Africa Financial Action Task Force convenes first central bank governors meeting to prepare for third-round AML/CFT and proliferation financing mutual evaluations

The Middle East and North Africa Financial Action Task Force (MENAFATF) convened its members’ central bank governors for the first time as the region begins the third round of mutual evaluations of anti-money laundering, counter-terrorist financing and proliferation financing (AML/CFT/PF) systems, aiming to secure high-level support for country preparation. Held on the sidelines of the 49th Council of Governors of Arab Central Banks and Monetary Authorities organised by the Arab Monetary Fund and hosted by the Central Bank of Tunisia, the meeting brought together MENAFATF and Financial Action Task Force (FATF) leadership, including FATF President Elisa Madrazo, MENAFATF President Samia Abu Sharif, MENAFATF Vice President Hamed Al Zaabi and Executive Secretary Suliman Aljabrin. The session, chaired by Central Bank of Jordan Governor Dr Adel Al Sharkas, highlighted the need for adequate financial and human resources, closer engagement with FATF and the global network, and early readiness for an evaluation round focused on demonstrating effectiveness. Recommended actions for members included early national-level preparation, capacity and knowledge building, and technical application of FATF methodology and procedures. Participants also recommended institutionalising this governors’ meeting on a two-year cycle to keep central bank leadership updated on MENAFATF developments as third-round evaluations progress.