Middle East and North Africa Financial Action Task Force (MENAFATF)

Is a voluntary and cooperative cooperative group established by agreement between the governments of 14 Arab countries that form the founding members. Subsequently, a number of countries in the region joined the group, bringing the number of member states to 19. He is the observer for a number of States and international and regional organizations. It was agreed to be the seat of the Secretariat of the Group of the Kingdom of Bahrain. The Group defines its work, systems, rules and procedures, and cooperates with other international bodies, particularly the FATF Group, to achieve its objectives.

The member states of the Group shall achieve the following objectives:

1. Adopting and implementing the 40 recommendations of the FATF on Combating Money Laundering and the Financing of Terrorism and Arms Proliferation.

2. Implementation of relevant United Nations treaties and conventions and relevant Security Council resolutions.

3. Cooperate with each other to promote adherence to these standards in the MENA region and to cooperate with other regional and international organizations, institutions and bodies to promote their international commitment.

4 – Joint work to identify issues related to money laundering and terrorism financing of a regional nature, and exchange of experiences in the development of solutions to deal with them.

5. Take measures throughout the region to combat money laundering and the financing of terrorism effectively and in a manner that does not conflict with the cultural values ​​of Member States and their constitutional frameworks and legal systems.

Middle East and North Africa Financial Action Task Force (MENAFATF)