The Middle East and North Africa Financial Action Task Force (MENAFATF) has announced a new five-point strategic plan to strengthen regional efforts against money laundering and terrorist financing, as Jordan assumes the group’s presidency for 2025.
The strategy, revealed during a leadership meeting in Amman on Tuesday, marks the first time the regional watchdog has established such comprehensive strategic priorities, signaling a more coordinated approach to tackling financial crime across the MENA region.
Jordan’s Samya Abu Shareef, who heads the country’s Anti-Money Laundering and Terrorist Financing Unit, will serve as MENAFATF president throughout 2025, whilst UAE’s Hamed Al Zaabi will act as vice president before taking the helm in 2026.
The new framework focuses on enhancing the effectiveness of the group’s mutual evaluation process, strengthening governance, implementing Financial Action Task Force (FATF) recommendations, boosting international cooperation, and intensifying efforts to combat emerging financial crime risks.
“These joint priorities chart an ambitious path to enhance the strategic direction, vision and future priorities of the group,” Abu Shareef said at the meeting, which coincides with MENAFATF’s 20th anniversary.
The announcement comes as regional financial centres face mounting pressure to demonstrate their commitment to combating illicit financial flows. The UAE, in particular, has stepped up its anti-money laundering efforts after being placed on the FATF’s grey list in March 2022.
Al Zaabi highlighted the region’s enhanced capabilities to combat financial crimes, noting specific initiatives such as the regional asset recovery network. “The UAE takes great pride in its active role within the MENAFATF, firmly dedicated to safeguarding the integrity of the global financial system,” he said.
MENAFATF’s Executive Secretary, Suliman AlJabrin, emphasised the timeliness of the joint initiative between Jordan and the UAE, particularly as it addresses evolving challenges in financial crime.
The organisation, established in 2004, has grown from 14 to 21 member countries across the Middle East and North Africa, with 18 observer nations. Both Jordan and the UAE were founding members of the group, which aims to implement FATF recommendations and strengthen regional cooperation in combating financial crime.
The new strategy builds upon initiatives implemented during Yemen’s presidency in 2024 and will guide the organisation’s efforts through 2026, when the UAE concludes its term as president.
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