The United Arab Emirates has assumed the presidency of the Middle East and North Africa Financial Action Task Force for 2026, taking on the leadership role at a pivotal time for the region’s fight against financial crime.
The presidency will be represented by Hamid Saif AlZaabi and comes as MENAFATF prepares to launch its third round of mutual evaluations, aligned with the Financial Action Task Force’s fifth-round methodology. The upcoming assessments are expected to play a critical role in shaping how member states address money laundering, terrorist financing, and proliferation financing risks.
Under the UAE’s leadership, MENAFATF will prioritise strengthening regional readiness for mutual evaluations, modernising governance frameworks, and deepening international cooperation. The programme also places strong emphasis on emerging financial crime risks linked to virtual assets, fintech, artificial intelligence, and beneficial ownership transparency, alongside enhanced collaboration on asset recovery.
The UAE presidency forms part of a coordinated two-year sequence with the Kingdom of Bahrain, which will assume the presidency in 2027. The joint approach is designed to ensure continuity, reinforce governance, and support long-term capacity building across member states.
Speaking on the appointment, AlZaabi said the region plays an increasingly influential role in global financial stability and stressed the importance of collective action to strengthen institutional resilience and elevate standards.
MENAFATF Executive Secretary Suliman Al-Jabrin said the shared priorities of the UAE and Bahrain reflect a forward-looking vision that will enhance the group’s effectiveness within the global AML and CFT framework.
MENAFATF comprises 21 member states across the Middle East and North Africa, representing a combined GDP exceeding $3 trillion, highlighting the region’s strategic importance to the global financial system.
News Source: Emirates News Agency
