UAE takes over presidency of MENA financial action task force

The UAE has taken over the presidency of the Middle East and North Africa Financial Action Task Force (MENAFATF) for 2026, represented by Hamid Saif AlZaabi.

This comes at a critical time, as MENAFATF prepares for its third round of mutual evaluations under updated global standards set by the Financial Action Task Force.

During its presidency, the UAE will focus on strengthening regional preparedness for these evaluations, modernising governance frameworks, expanding international cooperation, and addressing emerging financial crime risks.

This presidency is part of a two-year sequence with Bahrain, which will lead the group in 2027.

Speaking on the appointment, Hamid Saif AlZaabi said the UAE aims to boost resilience and contribute to the global fight against financial crime, emphasizing collaboration to raise standards and build stronger institutions.

Key priorities also include addressing emerging risks linked to virtual assets, fintech, artificial intelligence, beneficial ownership transparency and asset recovery.

MENAFATF, which includes 21 member states with a combined GDP of over $3 trillion, plays a key role in combating money laundering, terrorist financing, and related threats across the region.