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First Meeting with Private Sector Representatives
Published Date
06 Dec 2009

Within the framework of dialogue mechanism with the private sector, the MENAFATF held on 12 November 2009 on the margin of the 10th MENAFATF plenary meeting (held in Beirut during the period 9-11 November 2009) the first meeting with private sector representatives, which was limited to the banking sector only.
The meeting underlined the role of the private sector in relation to AML/CFT. It was agreed as well to implement the dialogue mechanism with such important sector; by holding periodical meetings from time to time.

The dialogue with the private sector aims mainly at contributing to a better understanding by the private sector in the MENA region of the international AML/CFT standards, identifying the ML/TF risks related to the activities done by the private sector and suggesting the appropriate measures to face them, identifying the challenges faced by the private sector in implementing the fighting criteria and submitting the appropriate solutions to overcome such challenges, reviewing the institutional, modern and developed AML/CFT policies and measures, studying the issues raised for dialogue and suggesting the appropriate recommendations or directions to submit them to the MENAFATF plenary meeting to discuss it and take the appropriate decision in this regard.