Dubai: Hamid AlZaabi, President of the Middle East and North Africa Financial Action Task Force (MENAFATF), announced that the UAE's assumption of the group's presidency comes at a pivotal moment for the global system to combat money laundering, terrorist financing, and the proliferation of weapons, as countries move into new rounds of assessments focused on measuring effectiveness and real-world outcomes. This shift requires higher levels of preparedness and the development of sustainable capacities at both national and institutional levels.
According to Emirates News Agency, AlZaabi explained that the UAE's presidency is driven by a firm belief in the importance of collective action and joint cooperation. He stressed that the UAE will work with all member states, as well as regional and international partners, under a shared responsibility to strengthen the framework for combating money laundering, terrorist financing and proliferation, and to entrench a partnership-based approach centered on the exchange of expertise and the achievement of sustainable impact at both regional and global levels.
In an interview marking the UAE's assumption of MENAFATF's presidency, AlZaabi noted that MENAFATF is the regional body supporting countries in the Middle East and North Africa in strengthening their systems to combat money laundering, terrorist financing, and other financial crimes, in line with international standards adopted by the Financial Action Task Force (FATF). Established in 2004, MENAFATF today comprises 21 member states, collectively representing an estimated nominal gross domestic product of around US$3.5 trillion.
AlZaabi stated that the UAE's presidency of MENAFATF in 2026 aims to strengthen anti-money laundering and counter-terrorist financing frameworks across the region, delivering practical, measurable results that contribute tangibly to the resilience of the global financial system. He emphasized that reducing the risks of financial crime in the Middle East and North Africa would directly enhance national stability and make countries safer and more prosperous.
He highlighted MENAFATF's key strength lies in the diversity of its membership, which includes advanced financial centers, major emerging economies and countries facing institutional challenges or special circumstances. This diversity allows international standards, tools, and approaches to be tested in varied, real-world environments that reflect challenges seen at the global level.
AlZaabi pointed out that the Middle East and North Africa region plays a pivotal role in the global economy due to its position at the crossroads of continents, trade routes, and financial flows, as well as its rapidly growing economies, logistics hubs, and increasingly sophisticated financial systems. Developments in the region have a direct impact on global financial integrity and stability.
Outlining the priorities of the UAE presidency, AlZaabi said the focus would be on translating international standards into effective implementation on the ground. This will be pursued through six main priorities, including supporting member states in preparing for mutual evaluations, updating MENAFATF governance, expanding regional training, deepening cooperation with FATF, addressing emerging risks, and enhancing cooperation in asset recovery and overall operational effectiveness.
He explained that capacity building and the qualification of assessors will be a core focus in the coming phase, in support of countries' readiness for mutual evaluations. This includes activating the role of the Secretariat and attracting specialised technical experts to assist member states in preparing for evaluations and improving the quality of implementation.
AlZaabi noted that this year marks an important milestone with the launch of the group's third round of mutual evaluations, in line with FATF's new fifth-round methodology, which places greater emphasis on outcomes and practical effectiveness. The presidency's priority is to ensure member states enter this phase with higher levels of preparedness, technical capability, and a clear understanding of expectations.
He added that a comprehensive regional programme will be launched, including expanded technical assistance, specialised training, and the introduction of an e-learning platform to support national risk assessments and implementation efforts. This will be complemented by the development of a regional accreditation programme for assessors, aimed at expanding the pool of qualified experts and enhancing consistency, credibility, and the quality of evaluations across the region.
AlZaabi confirmed that among the presidency's key initiatives is support for the establishment of a specialised regional training centre, to serve as a platform for capacity building and advanced technical training for countries in the region. This will contribute to raising national preparedness and qualifying national cadres in line with international best practices and standards.
On priority challenges, AlZaabi explained that financial crime continues to evolve and rapidly adapt to modern technologies, regulatory gaps, and geopolitical pressures. He identified challenges as the rapid pace of technological change, complexities of international cooperation, and low asset recovery rates. The UAE presidency will launch targeted initiatives to address these risks.
AlZaabi also underscored the importance of the academic sector and research institutes in supporting the group's efforts through specialised studies, the development of scientific research, and the preparation of qualified professionals capable of keeping pace with digital transformation and the risks associated with cybercrime, cybersecurity, and virtual assets.
With regard to supporting member states in implementing and completing action plans linked to FATF recommendations, AlZaabi stressed that high-level political commitment is a decisive factor in successful implementation. He will continue direct engagement and field visits to member states, building on discussions held in recent months. MENAFATF responds directly to the needs of its member states by providing specialised technical assistance, hands-on training, and peer-to-peer support.
AlZaabi also highlighted the UAE's national efforts in this field, noting that the country has established an integrated national framework developed over recent years. This experience provides a practical foundation that the UAE seeks to build upon regionally, by sharing expertise and best practices and supporting member states in strengthening their national systems.