The UAE and Bahrain have formalised a new partnership to bolster their joint fight against financial crime, signing a Memorandum of Understanding on the sidelines of the 41st MENAFATF Plenary Meeting.
The agreement is positioned as a key step toward building stronger regional coordination ahead of the two countries’ joint presidency of MENAFATF in 2026.
The MoU was signed by Hamid AlZaabi, Secretary General and Vice Chair of the UAE National Committee, and Shaikha May bint Mohamed Al Khalifa, Chief Executive of Bahrain’s Financial Intelligence National Center and Chair of its AML and CFT Committee.
Both officials said the agreement reflects a shared commitment to strengthening transparency, integrity, and resilience in the region’s response to money laundering, terrorist financing, and proliferation financing. They noted that closer cooperation will support institutional development and enhance the region’s overall AML and CFT framework.
The MoU establishes a structured framework for deeper operational, technical, and policy collaboration between the two countries. It outlines plans to exchange knowledge and best practices, develop joint training programmes, and coordinate on regulatory and risk based supervisory tools aligned with FATF Standards.
The agreement also opens the way for sharing case studies on cross border financial crime, conducting joint research, and forming task forces to address emerging risks. Regular consultations will be held to monitor progress, review implementation, and identify new areas for cooperation.
Both sides reaffirmed their support for the MENAFATF Secretariat and their commitment to contributing to the success of the organisation’s third round of mutual evaluations.
News Source: Emirates News Agency
