Amman, May 7 (Petra) – The 40th General Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) kicked off in Amman on Wednesday, hosted and chaired by Jordan.

The event was held under the patronage of Central Bank of Jordan Governor Adel Sharkas and Samia Abu Sharif, Chair of the National Committee for Combating Money Laundering and Terrorist Financing, Head of Jordan’s Financial Intelligence Unit, and current President of MENAFATF.

Governor Sharkas emphasized the meeting’s role in advancing regional cooperation to combat money laundering, terrorist financing, and the financing of weapons proliferation. He underscored Jordan’s high-level commitment to international standards and the country’s efforts to build a robust and sustainable financial system. He noted that Jordan’s national anti-money laundering and counter-terrorism financing (AML/CTF) framework involves broad coordination among ministries, institutions, and regulatory bodies.

Sharkas highlighted Jordan’s enhanced technical compliance with the Financial Action Task Force’s (FATF) 40 Recommendations. The AML/CTF law that took effect in September 2021 addressed legislative gaps and became the cornerstone for aligning national regulations with international standards.

He added that AML/CTF and weapons proliferation financing pose threats beyond legal and economic concerns they impact national and regional security. He called for continued knowledge-sharing and sustainable best practices to secure a safer and more prosperous future.

Sharkas also noted that regional conflicts and refugee flows have increased the risks associated with financial crimes. He stressed the need for MENAFATF countries to adopt comprehensive, risk-based national strategies and to harmonize their legal frameworks with global standards.

Abu Sharif emphasized the importance of strengthening strategic cooperation and partnerships across the region. She said MENAFATF is preparing for its third round of mutual evaluations, aligned with the FATF’s fifth evaluation round, and called on member states to step up both technical readiness and political commitment.

She outlined the 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 deepening understanding of emerging threats and technologies.

The meeting featured key discussions on MENAFATF’s strategic objectives and the regional agenda to counter money laundering, terrorism financing, and proliferation financing. The discussions aimed to support Jordan’s leadership role and strengthen regional and international coordination.

A high-level workshop was also held on recent fundamental changes to FATF standards and upcoming mutual evaluations, helping member states prepare for future assessments.

Among the items under review was Jordan’s fifth enhanced follow-up report, which includes a request to upgrade Jordan’s compliance ratings for four FATF Recommendations from "partially compliant" to "compliant" or "largely compliant," reflecting the country’s progress in enhancing its AML/CTF regime.

The meeting drew senior officials, experts, and observers from member states and international organizations, providing a platform to reinforce joint efforts in protecting the region’s financial and economic systems.

//Petra// AF

07/05/2025 21:29:42