Hamed Al Zaabi, the head of the Financial Action Task Force (FATF) for the Middle East and North Africa (MENA), stated that the United Arab Emirates’ presidency of the group comes at a pivotal moment for the global fight against money laundering, terrorist financing, and the proliferation of arms. This transition is marked by a shift towards evaluations that prioritize effectiveness and tangible outcomes, necessitating enhanced readiness and sustainable capacities at both the national and institutional levels.
He emphasized that the UAE’s leadership is grounded in a strong belief in the importance of collective effort and mutual cooperation. All member nations, regional, and international partners will work together with shared responsibility to bolster the framework against money laundering, terrorist financing, and the proliferation of arms, while establishing a partnership-based approach to knowledge exchange and achieving lasting impacts at both regional and global levels.
In a discussion with the Emirates News Agency on the occasion of the UAE assuming the presidency, Al Zaabi noted that “MENA-FATF” serves as the regional body that supports countries in the MENA region in strengthening their anti-money laundering and counter-terrorism financing systems, in accordance with the international standards set by the FATF.
He explained that the group was established in 2004 and now includes 21 member countries, collectively representing a nominal GDP of approximately $3.5 trillion. It is one of nine regional groups similar to FATF that together form the global network of financial task forces.
Al Zaabi indicated that the overarching goal of the UAE’s presidency of MENA-FATF in 2026 is to strengthen the frameworks for combating money laundering and terrorist financing in the region, aiming for measurable, practical results that significantly enhance the resilience of the global financial system. He noted that reducing financial crime risks in the MENA region would directly contribute to the stability and prosperity of its nations.
He highlighted the diversity of MENA-FATF’s membership, which includes advanced financial centers, major developing economies, and countries facing institutional challenges or unique situations. This diversity is a true asset, as it allows for testing international standards, tools, and approaches in real and varied environments, reflecting global challenges.
The MENA region plays a crucial role in the global economy due to its strategic location at the crossroads of continents, trade routes, and financial flows, hosting rapidly growing economies and developing financial systems. Events in this area have immediate implications for global financial integrity and stability.
Regarding the priorities of the UAE presidency, Al Zaabi mentioned a central focus on translating international standards into effective actions on the ground. This will involve six key priorities: supporting member countries in preparing for mutual evaluations, updating MENA-FATF governance, enhancing the role of the secretariat, expanding regional training and developing the capabilities of evaluators and technical experts, deepening cooperation with the FATF and similar regional groups, and addressing emerging risks such as virtual assets, financial technology, artificial intelligence, and beneficial ownership, as well as improving cooperation in asset recovery and operational efficiency.
Building capacities and training evaluators will be a core focus in the upcoming phase to prepare nations for mutual evaluation processes, alongside enhancing the role of the secretariat and engaging specialized technical experts to assist member countries in their evaluation preparations and boost implementation quality.
This year is significant as it marks the start of the third round of mutual evaluations for the group, aligning with the new fifth-round methodology of FATF, which emphasizes results and practical effectiveness over mere formal compliance. The presidency’s priority is to ensure member states enter this stage with advanced readiness, technical capabilities, and a clear understanding of what is expected from them.
A regional program will be launched to expand technical assistance, specialized training, and an online learning platform to support national risk assessments and implementation efforts, in addition to developing a regional accreditation program for evaluators aimed at broadening the base of qualified experts and enhancing consistency, credibility, and quality of evaluations throughout the region.
Al Zaabi confirmed that among the initiatives pursued during the presidency will be the establishment of a specialized regional training center, which will serve as a platform for capacity building and enhancing technical training in anti-money laundering, terrorist financing, and arms proliferation, contributing to the preparedness of countries and qualification of national personnel in accordance with best practices and international standards.
Addressing priority challenges, Al Zaabi noted that financial crimes are continuously evolving, adapting quickly to new technologies, regulatory gaps, and geopolitical pressures. Key challenges include the rapid advancement of technology, complexities in international cooperation, and persistently low asset recovery rates.
He added that the UAE presidency will initiate targeted initiatives to address these risks, focusing on issues related to virtual assets, financial technology, and artificial intelligence, improving the tracking and seizure of assets, activating the asset recovery network in the MENA region (MENA-ARIN), and strengthening beneficial ownership frameworks while enhancing the effective application of targeted financial sanctions.
He pointed out the critical role of academia, research institutes, and universities in supporting the group’s efforts by conducting specialized studies, advancing scientific research, and training skilled personnel capable of addressing digital transformation, cybercrime risks, cybersecurity, and virtual assets.
Concerning the support for member states in implementing and completing action plans related to FATF recommendations, Al Zaabi stressed that high-level political commitment is essential for successful implementation. He indicated that he would continue direct communications and field visits to several member countries based on discussions held recently.
The group aims to directly respond to member nations’ needs by providing specialized technical assistance, hands-on training, and peer support, helping countries to strengthen their frameworks and demonstrate effectiveness in practical applications. The goal exceeds merely completing action plans; it is about ensuring the sustainability of reforms and embedding them within national systems.
Al Zaabi also discussed the UAE’s national efforts in this domain, noting that the country has established a comprehensive national framework over recent years that includes updating legislative frameworks, enhancing institutional coordination, and increasing the efficiency of relevant authorities. He affirmed that this national experience serves as a practical foundation on which the UAE seeks to build regionally by sharing expertise and best practices to assist member states in strengthening their systems and enhancing their readiness for upcoming evaluations.