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On EAG participation in the 34th MENAFATF Plenary Meeting

On EAG participation in the 34th MENAFATF Plenary Meeting
 

  • 28 June, 2022

    On 24-25 May 2022, the 34th MENAFATF (Middle East and North Africa Financial Action Task Force) Plenary Meeting was held in Manama, Kingdom of Bahrain. The Plenary operated in a hybrid format. The representative of the EAG Secretariat attended the Plenary in-person as well as most of the delegations of MENAFATF Member States and observers.

    The Plenary session was chaired by His Excellency Dr. Jawhar Al-Nafisi, the President of MENAFATF, Chairman of the FIU of the Kingdom of Morocco and His Excellency Dr. Mohamed El-Amin El-Dahaby, Vice President of MENAFATF, Governor of the Central Bank of Mauritania.

    The main issue on the agenda was to discuss the enhanced follow-up reports of Jordan, Morocco, Bahrain, Egypt and the UAE. The Plenary approved these reports. Other issues discussed included updating the procedures for Mutual Evaluations and Follow-up monitoring, implementation of regional risk assessment projects and research on abuse of the NPO sector for TF purposes. The delegations also considered implementation of AML/CFT training programs for MENAFATF Member States and optimization of approaches on coordination of technical assistance, and strengthening of partnerships with FATF and FSRBs.

    The Co-chair of the FATF Working Group on Global Network Coordination, Mr. Esteban Fullin addressed the Plenary and outlined the strategic vision of the FATF Global Network, which was fully endorsed by the Plenary. The support for the joint efforts of the FSRBs to strengthen the global understanding and implementation of the FATF Recommendation was highlighted.

    The EAG Secretariat also indicated its readiness to cooperate with MENAFATF in order to improve the quality of joint work in mutual evaluations and follow-up monitoring and coordination of TA and strengthening of cooperation within the FATF Global Network.

    It should be noted that the Plenary was preceded by meetings of the MENAFATF Working Groups, including the Mutual Evaluations Working Group, the Technical Assistance and Typologies Working Group, as well as the MENAFATF Member States Financial Intelligence Units Forum and the Risk Committee meeting. The Plenary received the Working Groups’ reports.

    The 35th MENAFATF Plenary meeting will be held in late November 2022 in Morocco.

    EAG Secretariat

    See MENAFATF press release