Abu dhabi: The Middle East and North Africa Financial Action Task Force (MENAFATF) announced on Monday that the United Arab Emirates has assumed the group's presidency for 2026, represented by Hamid Saif AlZaabi.
According to Emirates News Agency, the UAE's presidency comes at a crucial time for the region, as MENAFATF prepares to initiate the third round of mutual evaluations in line with the Financial Action Task Force (FATF) fifth-round methodology. Under the UAE's leadership, MENAFATF will aim to enhance regional readiness for mutual evaluations, modernize governance frameworks, deepen international cooperation, and advance solutions to emerging financial crime risks.
The UAE presidency is part of a two-year joint sequence with the Kingdom of Bahrain, which will lead the group in 2027, reflecting a shared commitment to continuity and long-term regional capacity building. Hamid Saif AlZaabi, the current president of MENAFATF, expressed that it is an honor to take on this leadership role and emphasized the region's vital role in the global financial system. He stated that the focus would be on strengthening the region's resilience and ensuring collective efforts contribute meaningfully to the global fight against financial crime.
Suliman Al-Jabrin, Executive Secretary of MENAFATF, noted that the joint priorities agreed by the UAE for 2026 and Bahrain for 2027 reflect a forward-looking vision. These priorities aim to provide continuity, strengthen governance, and support member states as they prepare for the upcoming round of mutual evaluations. This approach will enhance MENAFATF's effectiveness and reinforce its role within the global AML/CFT network.
The UAE's 2026 presidency will emphasize improving institutional governance and internal structures of MENAFATF to enhance the efficiency of the organization and its secretariat. International partnerships will also be a central focus, with plans for expanded engagement alongside FATF, peer regional bodies, and international observers.
Dedicated workstreams will address the latest trends, risks, and experiences related to virtual assets, fintech, artificial intelligence, beneficial ownership transparency, and enhanced cooperation on asset recovery, aligning with global AML/CFT priorities. MENAFATF members have welcomed the UAE's presidency and its comprehensive program for 2026, noting that it will help advance regional cohesion, strengthen national capabilities, and align MENAFATF's work more closely with global standards and emerging risks.
MENAFATF comprises 21 member states from across the Middle East and North Africa, representing an estimated combined GDP of more than US$3 trillion. This underscores the region's strategic importance to global financial stability and the international fight against money laundering, terrorist financing, and proliferation financing.