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MENAFATF 2nd Plenary On AML/CTF 26-27 September 2005
Published Date
02 Oct 2005

The Middle East and North Africa Financial Action Task Force (MENAFATF), which was established in November 2004 and is headquartered in the Kingdom of Bahrain, held its 2nd Plenary meeting in Beirut on 26-27 September 2005.

The Plenary was chaired by The Republic of Lebanon represented by Dr. Mohammed Baasiri.

The Plenary was attended by the vice-president of MENAFATF Mr. Mahmoud Abdel-Latif from the Republic of Arab Egypt, and the Executive Secretary Mr. Adel Qulish, together with the representatives and delegates of all the 14 member countries, which are: Jordan, UAE, Bahrain, Tunisia, Algeria, KSA, Syria, Oman, Qatar, Kuwait, Lebanon, Egypt, Morocco and Yemen. In addition, the Plenary was also attended by the following observers: UK, USA, France, IMF, WB, FATF, UNODC, GCC and Egmont Group.

The members of the MENAFATF unanimously approved the inclusion of the Republic of Iraq and the Islamic Republic of Mauritania as MENAFATF members.

Various issues relating to the work of the MENAFATF were discussed and a mutual mechanism was adopted in order to achieve the goals of MENAFATF.

In addition, the Members also undertook to commence a Mutual Evaluation Program and approved the creation and use of regional typologies to combat money laundering and terrorist financing.

Besides, A Technical Assistance Forum has been held on 28-29 September 2006 in coordination with IMF, WB and UNODC, during which the Technical Assistance needs of the MENAFATF members has been discussed.

The next Plenary of the MENAFATF will take place in Cairo in March 2006.