UAE Assumes MENAFATF Presidency for 2026

Abu Dhabi, The Gulf Observer: The United Arab Emirates has assumed the presidency of the Middle East and North Africa Financial Action Task Force (MENAFATF) for 2026, represented by Hamid Saif AlZaabi, the group announced on Monday.

The UAE’s presidency comes at a pivotal moment as MENAFATF prepares to launch the third round of mutual evaluations in alignment with the Financial Action Task Force (FATF) fifth-round methodology. Under the UAE’s leadership, the group will focus on enhancing regional readiness for these evaluations, modernizing governance frameworks, deepening international cooperation, and addressing emerging financial crime risks.

The 2026 UAE Presidency is part of a joint two-year sequence with the Kingdom of Bahrain, which will lead MENAFATF in 2027, reflecting a shared commitment to continuity and long-term capacity building in the region.

“It is a great honour to take on this leadership role. The Middle East and North Africa play a vital role in the global financial system today. Our region connects continents, markets, and major trade corridors, and what happens here increasingly shapes international financial stability,” said AlZaabi. He added, “As the UAE assumes the Presidency of MENAFATF, our focus is on strengthening the region’s resilience and ensuring that our collective efforts contribute meaningfully to the global fight against financial crime. By working together, we can elevate standards, build stronger institutions, and deliver lasting impact for our region and the world.”

Suliman Al-Jabrin, Executive Secretary of MENAFATF, noted that the joint priorities for 2026 and 2027 provide continuity, strengthen governance, and support member states in preparation for the upcoming round of mutual evaluations. “This coordinated approach will enhance MENAFATF’s effectiveness and reinforce its role within the global AML/CFT network,” he said.

Key priorities for the UAE presidency include improving MENAFATF’s institutional governance and internal structures, strengthening Secretariat resources, and enhancing regional capacity to combat money laundering, terrorist financing, and proliferation financing. International partnerships will also form a central pillar, with expanded engagement planned with FATF, peer regional bodies, and international observers.

Dedicated workstreams will focus on emerging trends and risks, including virtual assets, fintech, artificial intelligence, beneficial ownership transparency, and asset recovery, aligning MENAFATF’s work with global AML/CFT priorities.

MENAFATF members welcomed the UAE’s presidency and its comprehensive programme for 2026, noting it will advance regional cohesion, strengthen national capabilities, and align the group more closely with international standards.

The organization comprises 21 member states across the Middle East and North Africa, representing a combined GDP of over US$3 trillion, underscoring the region’s strategic role in global financial stability.