ABU DHABI, 12th January, 2026 (WAM) -- Hamid AlZaabi, President of the Middle East and North Africa Financial Action Task Force (MENAFATF), said 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, he noted, requires higher levels of preparedness and the development of sustainable capacities at both national and institutional levels.
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 centred on the exchange of expertise and the achievement of sustainable impact at both regional and global levels.
In an interview with the Emirates News Agency (WAM) marking the UAE’s assumption of MENAFATF's presidency, AlZaabi said 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).
He noted that MENAFATF was established in 2004 and today comprises 21 member states, collectively representing an estimated nominal gross domestic product of around US$3.5 trillion. The group is one of nine FATF-style regional bodies that together form the global FATF network.
AlZaabi said that the overarching objective of the UAE’s presidency of MENAFATF in 2026 is to strengthen anti-money laundering and counter-terrorist financing frameworks across the region, while delivering practical, measurable results that contribute tangibly to the resilience of the global financial system.
He underscored 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 that MENAFATF’s key strength lies in the diversity of its membership, which includes advanced financial centres, major emerging economies and countries facing institutional challenges or special circumstances. This diversity, he said, represents a real source of strength, as it 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, he added, have a direct impact on global financial integrity and stability.
Outlining the priorities of the UAE presidency, AlZaabi said the focus would be on a central objective: 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 and strengthening the role of the Secretariat; expanding regional training and building the capacity of assessors and technical experts; deepening cooperation with FATF, peer regional bodies and international partners; addressing emerging risks such as virtual assets, financial technology, artificial intelligence and beneficial ownership; 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, alongside 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.
In this context, 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 rather than formal compliance alone.
He stressed that 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 in the areas of anti-money laundering, counter-terrorist financing and counter-proliferation. This, he said, 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 the most prominent challenges as the rapid pace of technological change, the complexities of international cooperation and persistently low asset recovery rates.
He said the UAE presidency will launch targeted initiatives to address these risks, including work on virtual assets, financial technology and artificial intelligence; strengthening asset tracing and confiscation; activating the Middle East and North Africa Asset Recovery Inter-Agency Network (MENA-ARIN); reinforcing beneficial ownership frameworks; and improving the effective implementation of targeted financial sanctions.
AlZaabi also underscored the importance of the academic sector, research institutes and universities 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 said he will continue direct engagement and field visits to a number of member states, building on discussions held in recent months.
He added that MENAFATF responds directly to the needs of its member states by providing specialised technical assistance, hands-on training and peer-to-peer support, helping countries strengthen their frameworks and demonstrate effectiveness in practical application. The objective, he emphasised, is not merely to complete action plans, but to ensure the sustainability of reforms and their institutionalisation within national systems.
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, encompassing legislative updates, enhanced institutional coordination and improved efficiency of relevant authorities.
He said this national 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 and improving their readiness for forthcoming evaluations.