Amman: The 40th General Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) commenced in Amman, with Jordan serving as both host and chair.
According to Jordan News Agency, the event took place under the patronage of Central Bank of Jordan Governor Adel Sharkas and Samia Abu Sharif, who is the Chair of the National Committee for Combating Money Laundering and Terrorist Financing, the Head of Jordan’s Financial Intelligence Unit, and the current President of MENAFATF.
Governor Sharkas highlighted the meeting’s role in enhancing regional cooperation to combat money laundering, terrorist financing, and the financing of weapons proliferation. He emphasized Jordan’s commitment to international standards and efforts to build a durable financial system. Sharkas noted that Jordan’s national framework for anti-money laundering and counter-terrorism financing (AML/CTF) involves broad coordination among various ministries, institutions, and regulatory bodies.
Jordan has taken steps to improve technical compliance with the Financial Action Task Force’s (FATF) 40 Recommendations. The AML/CTF law introduced in September 2021 addressed legislative gaps, aligning national regulations with international standards. Sharkas pointed out that AML/CTF and weapons proliferation financing threaten national and regional security beyond legal and economic concerns, calling for knowledge-sharing and sustainable best practices.
Regional conflicts and refugee flows have increased financial crime risks, Sharkas noted, stressing the need for MENAFATF countries to adopt comprehensive risk-based national strategies and align their legal frameworks with global standards.
Abu Sharif underscored the importance of strategic cooperation across the region. She mentioned that MENAFATF is preparing for its third round of mutual evaluations, in line with FATF’s fifth evaluation round, and urged member states to enhance technical readiness and political commitment.
She outlined five strategic priorities for the 2025-2026 joint Jordan-UAE presidency of MENAFATF: supporting member countries through mutual evaluations, improving governance within MENAFATF, enhancing evaluation quality, expanding collaboration with international partners, and enhancing understanding of emerging threats and technologies.
The meeting included discussions on MENAFATF’s strategic objectives and the regional agenda for combating money laundering, terrorism financing, and proliferation financing, aiming to support Jordan’s leadership role and strengthen regional and international coordination.
A high-level workshop covered recent fundamental changes to FATF standards and upcoming mutual evaluations, helping member states prepare for future assessments. Jordan’s fifth enhanced follow-up report was reviewed, including a request to upgrade compliance ratings for four FATF Recommendations, reflecting progress in enhancing its AML/CTF regime.
The meeting attracted senior officials, experts, and observers from member states and international organizations, providing a platform to strengthen joint efforts in protecting the region’s financial and economic systems.