Riyadh: The Kingdom of Saudi Arabia, represented by the Saudi Central Bank (SAMA), chaired the annual meeting of the Steering Committee of the IMF Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Thematic Fund for Capacity Development, held on Saturday, June 20, 2026, in Paris, France.
According to Saudi Press Agency, the meeting organized by SAMA was attended by representatives of the fund's 12 donor partners, including Canada, France, Germany, Japan, Korea, Luxembourg, the Netherlands, Qatar, the Kingdom of Saudi Arabia, Switzerland, the United Kingdom, and Italy, along with representatives from the IMF. Observers from several countries and organizations also participated, including the Financial Action Task Force (FATF), the Organisation for Economic Co-operation and Development (OECD), the United Nations Office on Drugs and Crime (UNODC), the World Bank, and the Egmont Group of Financial Intelligence Units.
Established in 2009, the fund is a joint initiative of donor countries aimed at strengthening AML/CFT frameworks and safeguarding the integrity and stability of the financial and economic systems. It focuses on financing technical assistance and capacity-building programs in the field of AML/CFT, supporting beneficiary countries that require assistance to combat money laundering and financing of terrorism crimes across different regions, tailored to each country's priorities and needs.
The fund plays a crucial role in enhancing the legislative, regulatory, and supervisory frameworks of beneficiary countries and developing the capacities of the competent authorities. This, in turn, supports the integrity and stability of their financial systems, enhances transparency and governance, and improves compliance with relevant international standards.
The steering committee, comprising representatives from donor countries and IMF officials, is tasked with determining the Fund's strategic direction and contributing to the development of its policies and priorities. Its responsibilities include approving the annual work plan and budget, reviewing performance and progress, and discussing projects and initiatives during its periodic meetings.
