Riyadh: The Kingdom of Saudi Arabia, represented by the Saudi Central Bank (SAMA), is set to host the 39th Plenary Meeting of the Middle East and North Africa Financial Action Task Force (MENAFATF) from November 16 to 21 in Riyadh.

According to Saudi Press Agency, the meeting will be chaired by the Republic of Yemen and attended by senior officials and observers from MENAFATF member countries, as well as regional and international organizations focused on anti-money laundering (AML), combating the financing of terrorism (CFT), and combating the financing of proliferation.

Participants will discuss critical topics related to AML, CFT, and proliferation financing, as well as review the outcomes of the Financial Intelligence Units Forum (FIUF), the Operational Experts Forum on Terrorist Financing (OFTF), and the Risk Committee.

On the sidelines of the MENAFATF meeting, a conference will be held to commemorate the 20th anniversary of MENAFATF’s establishment. This conference will focus on the latest developmen
ts in AML, CFT, and combating proliferation financing.

The press release noted that Governor of the Saudi Central Bank Ayman Al-Sayari will inaugurate the conference, which will include sessions on the adoption of international standards by the Financial Action Task Force (FATF) and its regional counterpart; lessons learned from the current round of mutual evaluations and an outlook for the next round; the application of FATF standards to virtual assets and emerging technologies, along with country-specific experiences; and best practices in asset tracking and recovery, as well as the activation of international cooperation mechanisms.

These meetings form part of MENAFATF’s broader efforts to combat money laundering, terrorist financing, and proliferation financing in the Middle East and North Africa, while protecting the region from these crimes.