During 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.
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 the Financial Intelligence National Center and Chair of Bahrain’s AML/CFT Committee.
Hamid AlZaabi said, “This agreement reflects the shared vision of the UAE and Bahrain to build a more coordinated, resilient, and effective regional response to financial crime. As the UAE and Bahrain prepare to assume the joint Presidency of MENAFATF in 2026, this partnership will play a vital role in strengthening institutional cooperation and advancing the goals of our region’s AML/CFT framework.”
Shaikha May bint Mohammed Al Khalifa commented, “Recognising the importance of strengthening our efforts to combat money laundering and terrorist financing, and of upholding the principles of transparency and integrity through a formal framework for communication and coordination, we believe that this step will reinforce our joint cooperation and enhance our ability to address these challenges more effectively”
The MoU establishes an official structure for improved coordination and collaboration between the UAE and Bahrain in addressing money laundering, predicate offences, terrorist financing, and proliferation financing. It seeks to expand operational, technical, and policy-level cooperation between the two nations in alignment with the priorities of their joint MENAFATF Presidency in 2026.
Under this agreement, both parties will collaborate to share expertise, knowledge, and best practices across policy, supervisory, and enforcement domains; develop joint training and awareness initiatives; and work together on regulatory and risk-based supervisory tools consistent with FATF Standards.
The MoU further provides for the exchange of case studies and typologies related to cross-border financial crime, the production of joint research and publications, and the creation of task forces dedicated to addressing emerging risks and enhancing national resilience against illicit financial flows.
Additionally, the MoU calls for regular consultations between the two committees to review implementation, assess progress, and identify new opportunities for partnership. Both sides reaffirmed their dedication to supporting the MENAFATF Secretariat and contributing to the success of the Group’s third round of mutual evaluations.
(Inputs from WAM)
