From 28 to 30 November 2011, the EAG delegation took part in the 14th MENAFATF Plenary meeting in Algeria

For the first time the EAG was presented at the МЕNAFATF Plenary after the organizations obtained observaer statuses on a mutual basis at summer 2011. Cooperation of the groups is aimed at expanding the interregional interaction in the field of combating money laundering and financing of terrorism, as well as at the exchange of experience and best practices.

A large number of AML/CFT experts participated in the Plenary meeting, representing MENAFATF member countries (Jordan, UAE, Bahrain, Tunisia, Algeria, Saudi Arabia, Sudan, Iraq, Oman, Qatar, Kuwait, Lebanon, Egypt, Morocco and Yemen), in addition to observer countries and organizations (Palestine, France, USA, World Bank, International Monetary Fund, Gulf Cooperation Council, Financial Action Task Force, Arab Monetary Fund and Eurasian Group).

The 14th Plenary sessions included a number of important events and discussed a series of subjects related to the MENAFATF work and activities. 

The 14th plenary meeting approved on granting the United Nations an observer seat with the MENAFATF, which would enhance the cooperation with the United Nations bodies and organs. Within the framework of the follow up process for the mutual evaluation processes, the 14th Plenary meeting has adopted 5 follow-up reports for the following countries: Lebanese Republic, Republic of Tunisia, United Arab Emirates, State of Qatar and Kingdom of Bahrain. The reports revealed the progress made by such countries in developing their AML/CFT regimes according to the plan established for that purpose in their MERs adopted between 2006 and 2009.

The plenary meeting adopted the typologies report on “Illicit Trafficking in Narcotic Drugs and Psychotropic Substances and Money Laundering, submitted and recommended by the TATWG; the report was prepared by the Typologies Experts Group in the MENAFATF countries.

The report reached a number of recommendations that aim at enhancing the combating process against illicit trafficking in narcotic drugs and psychotropic substances and the ML crime.

The EAG made a presentation on the main activities of the Eurasian group, scientific research and typologies, mutual evaluations, communication policy.

The 15th MENAFATF plenary meeting will be held in May 2012 in the Kingdom of Saudi Arabia.

About MENAFATF

Middle East and North Africa Financial Action Task Force - is a FATF-style regional body and the FATF associate member. The MENAFATF was formed at an inaugural ministerial meeting in Bahrain on November 30, 2004 attended by the governments of fourteen countries.

The headquarter of the body is located in the Kingdom of Bahrain.

The Kingdom of Saudi Arabia represented by Dr. Abdulrahman A. Alkalaf, Saudi Arabian Monetary Agency (SAMA) Deputy Governor for Technical Affairs will chair the MENAFATF in 2012.