Abu dhabi: On the sidelines of the 41st Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF), the General Secretariat of the UAE National Anti-Money Laundering and Countering the Financing of Terrorism and Financing of Proliferation Committee (NAMLCFTPFC) signed a Memorandum of Understanding (MoU) with the Bahrain Anti-Money Laundering and Counter-Terrorism Financing Committee.
According to Emirates News Agency, the agreement 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 The Financial Intelligence National Center- Chair of the Bahrain AML/CFT Committee. Both parties emphasized the importance of this MoU in fostering a coordinated regional response to financial crime, especially as the UAE and Bahrain prepare to assume the joint Presidency of MENAFATF in 2026.
Hamid AlZaabi highlighted that the agreement reflects a shared vision to build a coordinated regional approach to financial crime. Shaikha May bint Mohammed Al Khalifa noted the significance of upholding transparency and integrity through formal communication and coordination, reinforcing joint efforts against money laundering and terrorist financing.
The MoU establishes a framework for enhanced coordination and cooperation between the UAE and Bahrain in combating money laundering, predicate offenses, terrorist financing, and proliferation financing. It aims to deepen collaboration in operational, technical, and policy areas, aligning with the joint UAE-Bahrain MENAFATF Presidency's priorities for 2026.
Under this agreement, both nations will work together to exchange knowledge, expertise, and best practices across various domains. This includes joint training and awareness programs, collaboration on regulatory and supervisory tools aligned with FATF Standards, and sharing case studies on cross-border financial crime.
The MoU also includes provisions for regular consultations between the two committees to monitor implementation, evaluate progress, and explore new opportunities for cooperation. Both sides reaffirmed their commitment to supporting the MENAFATF Secretariat and contributing to the success of the Group's third round of mutual evaluations.